正瀛资产：新晋百亿私募！四大优势助力指增超额排名居前且低回撤！

Core Viewpoint - Zhengying Asset has experienced significant growth in assets under management, surpassing 10 billion yuan in September 2025, driven by a combination of subjective and quantitative investment strategies [2][3]. Group 1: Company Overview - Zhengying Asset was established in 2015 and has adopted a hybrid investment model that combines subjective and quantitative approaches, enhancing market insight and risk management [2]. - The company is recognized as one of the early participants in the on-site options market, possessing deep expertise in options volatility trading [2]. - In 2021, Zhengying Asset began to expand into stock trading by introducing a high-frequency trading team, which includes members from prestigious universities [2]. Group 2: Strategy and Performance - From the end of 2021 to 2023, the company primarily focused on margin trading T0 strategies, transitioning to core T0 strategies in 2023 [3]. - By August 2023, the stock high-frequency T0 strategy had grown from zero to 7.5 billion yuan in scale [3]. - The current scale of the stock neutral T0 strategy product line is approximately 4 billion yuan, while the stock index enhancement T0 strategy product line stands at around 3.5 billion yuan [5]. Group 3: Risk Management - The company prioritizes risk control, ensuring a balance between profitability and liquidity [6]. - A dedicated team manages risk across all strategy operations, adhering to a comprehensive risk control process that includes preemptive measures, real-time monitoring, and post-evaluation [13][14][15]. Group 4: Competitive Advantages - Zhengying Asset's rapid rise in the stock high-frequency sector is attributed to four main advantages: strong computing power, integrated software and hardware, low-latency systems, and meticulous management [7][8][9][10][11]. - The company employs a unique index enhancement strategy that combines artificial intelligence and machine learning for factor extraction, optimizing factor combinations based on risk and return [19]. Group 5: Product Performance - The company's index enhancement product "Zhengying Qiji Index Enhancement No. 17" has achieved significant excess returns, ranking third among similar products with over 5 billion yuan in scale [16]. - The strategy focuses on replicating index constituents daily to achieve excess returns, maintaining a historical maximum excess drawdown of less than 1% and a daily excess win rate of around 90% [18].