“小而美”私募股票、期货、量化半年度十强揭晓！富延、泓熙、智信融科等夺冠！

Core Viewpoint - The performance of private equity funds with assets under management between 0-500 million yuan has shown significant changes in strategies following the "924" market event, with CTA strategies underperforming compared to stock strategies in the latter half of the year [2][4]. Group 1: Performance Overview - As of June 2025, there are 6,534 private equity funds with assets between 0-500 million yuan, accounting for 84.30% of the industry, indicating a substantial presence of smaller fund managers [2]. - The average return for the 0-500 million private equity funds in the first half of 2025 was 10.44%, with a one-year average return of 33.15% [6]. Group 2: Strategy Performance - Among the various strategies, subjective long/short strategies led with an average return of 12.32%, while quantitative long strategies achieved an average return of 15.66% [7][4]. - The average returns for different strategies in the first half of 2025 are as follows: - Subjective Long/Short: 12.57% - Subjective CTA: 11.55% - Macro Strategy: 10.03% - Composite Strategy: 9.99% [6][11]. Group 3: Top Performers - The top three performing private equity funds in the stock strategy category are: - 富延资本 (Fuyuan Capital) - 沁昇基金 (Qinsheng Fund) - 滨利投资 (Binli Investment) [8]. - In the futures and derivatives strategy category, the leading funds are: - 泓熙基金 (Hongxi Fund) - 孚盈投资 (Fuying Investment) - 水木长量 (Shuimu Changliang) [12]. - For multi-asset strategies, the top performers are: - 易则投资 (Yize Investment) - 数弈众城投资 (Shuyi Zhongcheng Investment) [16]. Group 4: Quantitative Fund Performance - The average return for quantitative products in the first half of 2025 was approximately 8.39%, with 83.12% of the products showing positive returns [20]. - The top three quantitative funds based on performance are: - 智信融科 (Zhixin Rongke) - 广州天钲瀚 (Guangzhou Tianzhanhan) - 巨量均衡基金 (Julang Junheng Fund) [22].