私募发行火热！年内新备案超7900只，增逾八成！百亿量化私募领跑

Core Viewpoint - The private equity market in A-shares is experiencing a resurgence, with a significant increase in the issuance of new products, particularly in quantitative strategies, driven by a recovering market and improved regulatory environment [1][2][3]. Group 1: Market Recovery and Product Issuance - As of August 31, 2025, the number of newly registered private equity securities products has exceeded 7900, representing a year-on-year increase of 82.19% from 4340 in the same period of 2024 [2]. - The monthly registration volume has remained above 1100 for three consecutive months, indicating sustained enthusiasm for private equity securities products [2]. - In July 2025, the new registration scale reached 1074.27 billion, marking a nearly four-year high, compared to only 156 billion in the same month last year [2]. Group 2: Factors Driving Growth - The growth in registered private equity securities products is attributed to several factors, including the steady recovery of the A-share market and the strong performance of strategic emerging industries like artificial intelligence, which have increased market risk appetite [3]. - The improvement in the regulatory framework and transparency of the private equity fund industry has bolstered investor confidence, creating a stable environment for healthy industry development [3]. - The strong profitability of private equity securities products has further stimulated investor participation [3]. Group 3: Quantitative Investment Strategies - Quantitative investment strategies have seen rapid development and demonstrated significant advantages in the current market environment, leading to increased investor interest [4]. - The number of registered quantitative products has doubled year-on-year, reaching 3584, accounting for 45.33% of the total [7]. - Among the quantitative products, stock strategies are the most popular, making up 72.57% of the total, followed by futures and derivatives (13.81%) and multi-asset strategies (10.66%) [7]. Group 4: Performance of Specific Strategies - Stock strategy products have been particularly noteworthy, with 5173 registered, representing 65.42% of the total, and a year-on-year increase of over 90% [5]. - Multi-asset and futures/derivatives strategies have also seen steady growth, with registrations increasing by 76.58% and 66.87%, respectively [5]. - The performance of quantitative products has been strong, with some leading institutions reporting excess returns of 20% to 30% [6]. Group 5: Dominance of Leading Private Equity Firms - A total of 76 private equity firms with over 10 billion in assets have registered 1936 products this year, averaging at least 25 products per firm, which accounts for nearly a quarter of the total [8]. - Three leading quantitative private equity firms have registered over 100 products each, with KuanDe Private Equity leading at 118 products, followed by HeiYi Asset at 112, and MingFa Investment at 101 [8][10]. - The concentration of product registrations among top firms highlights the significant headwind effect in the industry [9].