私募开启自购表达坚定信心

Core Viewpoint - Private equity firms are actively engaging in self-purchase actions at the beginning of 2026, indicating confidence in the market despite concerns about potential downturns [1][2]. Group 1: Company Actions - Jiu Yang Run Quan Capital Management announced that its chairman and fund manager, Hu Jun Cheng, personally subscribed to new fund shares worth RMB 10 million [1]. - The firm has a history of self-purchases, with employees subscribing a total of RMB 12.396 million in the past year and management subscribing RMB 22.51 million in February 2022 [1]. - Another private equity firm, Yuan Fang Private Fund Management, also announced a self-purchase of at least RMB 4 million for its fund [2]. Group 2: Industry Insights - Self-purchase actions by private equity firms serve as a confidence bridge for investors and demonstrate the responsibility of fund managers [3]. - The increase in self-purchase activities reflects a trend towards more regulated and transparent practices in the private equity industry, which can attract long-term capital and stabilize the market [3]. - As of November 2025, the total scale of private equity funds reached RMB 22.09 trillion, with private securities investment funds exceeding RMB 7 trillion [3]. Group 3: Market Outlook - Hu Jun Cheng expressed a rational optimism about the long-term development of the capital market, supported by improved market ecology, funding structure, policy guidance, and economic growth quality [4]. - Key factors contributing to this outlook include strengthened regulations, the influx of long-term capital, and a transformation in economic structure that enhances investment [4].