蒙玺投资李骧：发力“全频段Alpha”，量化行业迎来“精耕细作”时代

Core Viewpoint - The essence of quantitative investment lies in the accumulation and iteration of talent and technology, aiming for engineering success through meticulous refinement of each module [1][4]. Group 1: Company Overview - Mengxi Investment positions itself as a "performance-first, technology-first" quantitative investment firm, evolving from a low-latency trading focus to a multi-strategy, multi-asset, multi-frequency institution managing over 15 billion yuan [1][6]. - The company has a strong emphasis on long-termism, with key decisions centered around low-latency technology, a centralized research team structure, and the adoption of nonlinear models, particularly AI [6][7]. Group 2: Competitive Advantages - The company prioritizes low-latency technology as a critical competitive edge, essential for executing quantitative strategies in a highly competitive environment [6][7]. - Mengxi Investment employs a centralized research team model to enhance collaboration and efficiency, avoiding redundant research efforts [7]. - The integration of AI and nonlinear models has significantly improved predictive capabilities, with the establishment of an AI Lab in 2025 [7][8]. Group 3: Future Strategy - The company plans to focus on "strictly controlling style full-frequency Alpha," which encompasses multiple markets, asset types, and time frames, to capture diverse sources of excess returns [9][10]. - Mengxi Investment is expanding its product line to include market-neutral, index-enhanced, quantitative stock selection, options arbitrage, and more, with a particular interest in ETF-related strategies [11]. - The firm is also building its overseas business framework as a key area for future growth [12]. Group 4: Industry Insights - The quantitative investment sector in China is experiencing a return to value, with an emphasis on "fine-tuning" strategies to enhance performance [13][14]. - The industry has evolved through distinct phases, with the current focus on pure Alpha and the need for head institutions to strengthen their competitive capabilities globally [15]. - The future of quantitative investment in China will rely on meticulous operations and continuous strategy iteration to achieve superior returns [15].