当量化基金瞄准“基金平均成绩”，权益底仓又有新选择

Core Viewpoint - The article discusses the recent reforms in the public fund industry, particularly the establishment of performance benchmarks, which are expected to enhance the quality of public funds and provide clearer investment goals for investors [2][24]. Group 1: Performance Benchmarks - The public fund industry has introduced a performance benchmark system, which includes a classification of benchmark elements, aimed at improving fund performance evaluation [2]. - Investors are encouraged to align their investment goals with these benchmarks, particularly in actively managed equity products, where the goal should be to outperform the average market performance [3]. Group 2: Market Average and Active Equity Funds - Defining the market average is crucial; for those aiming to outperform indices like the CSI 300 or the CSI 500, selecting corresponding enhanced index products is likely to meet their objectives [4]. - The Wind偏股混合基金指数 (885001) has shown a consistent ability to outperform mainstream broad-based indices over the past decade, reflecting the alpha generation of actively managed equity funds [4][5]. Group 3: Historical Performance Data - Historical data shows that the偏股混合型基金指数 has had varied performance from 2016 to 2025, with notable years such as 2019 and 2020 where it achieved returns of 45.02% and 55.91% respectively [5]. - The percentage of actively managed equity funds that consistently outperform the偏股混合基金指数 over five years is below 5%, indicating the rarity of such funds [8]. Group 4: Quantitative Investment Strategies - Quantitative investment strategies are highlighted as a more reliable method for investors to achieve returns above the market average, as they leverage disciplined models to identify outperforming products [10][11]. - The 华安事件驱动量化混合 fund, managed by Zhang Xu, has consistently outperformed its benchmarks since its management began in 2020, showcasing the effectiveness of quantitative strategies [12][13]. Group 5: Fund Management and Strategy - Zhang Xu employs a comprehensive quantitative investment system that integrates various analytical models to enhance fund performance, focusing on industry rotation and stock selection strategies [15][20]. - The fund's strategy aims for excess returns while maintaining a secondary focus on tracking error, utilizing a combination of micro, macro, and event-driven analyses [20][21].