幻方、九坤、明汯等18家百亿量化私募全部产品创新高！量化成逆势新高“主力军”！

Core Insights - In November, the A-share market experienced a decline in trading volume, rapid sector rotation, and pressure on heavyweight stocks, with the Shanghai Composite Index falling by 1.67%, Shenzhen Component Index by 2.95%, and ChiNext by 4.23% [2] - Despite the market conditions, 61% of the private equity products under billion-yuan private equity firms reached historical net value highs, with 389 products achieving this milestone [2] - Quantitative products dominated the performance, with 324 out of 389 products being quantitative, accounting for over 80% of the total [3] Product Strategy Overview - The majority of products were equity strategy products, totaling 312, with quantitative long positions making up 240 and subjective long positions 33 [3] - Multi-asset strategy products accounted for 39, bond strategy products for 27, futures and derivatives strategy products for 9, and combination fund products for 2 [3] Performance of Private Equity Firms - 24 billion-yuan private equity firms had all their products reach historical net value highs in November, with 18 being quantitative and 4 subjective [3] - Notable firms with over 10 products include Ri Dou Investment, Jiu Kun Investment, Tian Yan Capital, Ming Long Investment, and Ningbo Huanfang Quantitative [4] Top Performing Products - The top-performing private equity firms for the year-to-date include Ling Jun Investment, Ningbo Huanfang Quantitative, Cheng Qi Asset, Tian Yan Capital, and Jin Ge Liang Rui, all of which are billion-yuan quantitative private equity firms [4] - The highest number of products reaching historical highs was led by Ju Kuan Investment with 40 products, achieving a 93.02% success rate [12][14] Recent Trends in Quantitative Strategies - The article highlights that quantitative strategies are more adaptable to different market environments, allowing for stable alpha returns [2] - Firms like Ningbo Huanfang Quantitative and Ming Long Investment have successfully integrated AI into their investment strategies, enhancing their performance [11][19] Long-Term Performance Metrics - Over the past year, the threshold for the top 20 products was set at a return of over ***%, with 17 being quantitative long products [15] - In the last three years, the top products also featured a significant number of quantitative strategies, with notable firms like Ju Kuan Investment and A Ba Ma Investment leading the rankings [19] - For the last five years, subjective long products dominated the top rankings, with Ri Dou Investment and Jiu Kun Investment securing the top spots [22][26]