私募年内平均收益超24%，量化多头大赚36.76%

Core Insights - As of October 31, 2025, 91.33% of the 10,969 private equity funds achieved positive returns, with an average return rate of 24.32% [1][3] - The top 5% of funds yielded an impressive return of 72.03%, indicating a strong performance across the market [1][3] Strategy Performance - Equity Strategy: Leading with an average return of 29.52%, 92.73% of equity funds reported positive returns. Among 6,931 funds, 6,427 were profitable, with the top 5% achieving a return of 82.48% [1][3] - Multi-Asset Strategy: Ranked second with an average return of 19.71% and a positive return rate of 91.61%. This strategy effectively captured equity market gains while diversifying risks through bonds and commodities [1][3] - Combination Funds: Showed strong stability with 96.85% of funds in positive territory, although the average return of 17.86% was slightly lower than that of multi-asset strategies [1][3] - Bond Strategy: Maintained a conservative approach with an average return of 8.77%, but 90.09% of funds achieved positive returns, highlighting its risk-averse nature [2][3] - Futures and Derivatives Strategy: Experienced moderate performance with an average return of 13.02% and 82.43% of funds in positive territory, affected by volatile commodity prices [2][3] Sub-Strategy Insights - Quantitative Long Strategy: Emerged as the top performer within equity strategies, boasting an average return of 36.76% and a positive return rate of 96.52%, significantly outperforming subjective long strategies [3][5] - Subjective Long Strategy: Achieved a return of 29.72%, with a notable 5% percentile return of 86.45%, indicating strong performance in specific sectors like technology [4][5] - Market Neutral and Long-Short Strategies: Reported lower average returns of 9.22% and 18.29%, respectively, due to their hedging mechanisms limiting upside potential [4][5] Market Dynamics - The performance of quantitative strategies has been attributed to several factors, including rapid sector rotation in technology and high trading volumes in the A-share market, which support high-frequency trading [6]