Caitong Securities(SH:601108) Sou Hu Cai Jing·2025-09-18 11:17Core Viewpoint - The active equity funds in the public offering market have performed exceptionally well this year, with over 98% achieving positive returns and 75% outperforming the market benchmark (CSI 300 Index up by 14.95%) [3][4]. Group 1: Performance of Active Equity Funds - More than 98% of active equity funds have recorded positive returns this year, with 75% surpassing the market performance [3]. - The top three active equity fund managers among licensed public funds are Dongzheng Asset Management, Caitong Asset Management, and Guotai Haitong Asset Management [3][4]. - Caitong Asset Management has a comprehensive product line in active equity funds, contributing to its strong performance in recent years [3]. Group 2: Caitong Asset Management's Fund Performance - Caitong Asset Management's 20 active equity funds have all achieved returns exceeding 20% this year, significantly outperforming the CSI 300 Index [5]. - Over the past year, all but one of Caitong's funds have returned over 50%, with four funds doubling their value [5]. - The firm has successfully positioned itself in various sectors, including technology, manufacturing, and consumption, leading to substantial returns [5][24]. Group 3: Investment Strategies and Fund Management - Caitong Asset Management employs a diverse range of investment strategies across its funds, focusing on sectors such as technology, advanced manufacturing, and consumer goods [6][20]. - The firm has adopted a structured approach to fund management, utilizing a three-tiered structure that balances core holdings with tactical positions [29]. - The investment philosophy emphasizes a combination of industry insights and rigorous research, enabling the team to identify trends and opportunities effectively [44][45]. Group 4: Research and Development - Caitong Asset Management's investment team consists of approximately 40 members, with 20 dedicated researchers focusing on various sectors [45]. - The firm integrates a comprehensive research approach into its investment strategy, enhancing the decision-making process and aligning with long-term absolute return goals [46][47]. - The success of Caitong's equity products is attributed to a systematic approach that combines industry perspective, research empowerment, and a focus on absolute returns [47].