SPD BANK(SH:600000) Huafu Securities·2025-11-04 13:22Group 1: Overview of Quantitative Funds - The report categorizes quantitative funds into three main types: active quantitative funds, index-enhanced quantitative funds, and hedging quantitative funds, each with distinct characteristics and advantages suitable for different trading needs [9]. Group 2: Active Quantitative Funds - As of October 31, 2025, there are 208 active quantitative funds tracking 17 indices, with 70 funds tracking the CSI 300 index, 54 funds tracking the CSI 500 index, and 37 funds tracking the CSI 800 index [16]. - In October 2025, active quantitative funds tracking the CSI 300 index achieved an average excess return of 0.2%, while those tracking the CSI 500 index achieved an average excess return of 1.2% [2][24]. - Among industry-themed funds, those tracking the Hang Seng A-share specialized new enterprises index, digital economy, and emerging growth index ranked highest in excess returns for October [34]. Group 3: Index-Enhanced Funds - There are 346 index-enhanced funds tracking 27 indices, with 64 funds tracking the CSI 500 index, 66 funds tracking the CSI 300 index, and 61 funds tracking the CSI A500 index as of October 31, 2025 [36]. - Funds tracking the CSI 500 index achieved an average excess return of 1.1% in October 2025, while those tracking the CSI 300 index achieved an average excess return of 0.5% [39][45]. Group 4: Hedging Quantitative Funds - In October 2025, hedging quantitative funds had an average absolute return of -0.01%, with net asset value volatility higher than the year-to-date average, while the maximum drawdown was lower than the year-to-date average [56].