百亿私募最新业绩榜揭晓！复胜、幻方居前！东方港湾领先近3年！

Core Insights - The A-share market experienced its first adjustment in November after seven months of slow bullish trends, with an average return of -0.77% for 668 products from billion-yuan private equity firms, and only 40.42% of these products achieving positive returns [2][7] Group 1: Billion-yuan Private Equity Overview - As of the end of November, there are 113 billion-yuan private equity firms, maintaining the same number as the end of October, nearing the historical peak of 116 firms in March 2022 [2][3] - Two new firms, Yuankang Private Equity and Liwei Private Equity, have crossed the 100 billion yuan threshold in November, both focusing on bond strategies [2] Group 2: Investment Strategies and Performance - Among the 113 billion-yuan private equity firms, 55 are quantitative, 47 are subjective, and 9 employ a combination of both strategies [3] - In terms of core strategies, 85 firms focus on stock strategies, 12 on multi-asset strategies, 9 on bond strategies, and 2 on futures and derivatives [3] Group 3: Geographic Distribution and Employee Count - Shanghai has the highest number of private equity firms at 53, followed by Beijing with 29, and Shenzhen with 9 [4] - There are 14 firms with over 100 employees, including prominent names like Foreign Trade Trust and Jiukun Investment [4] Group 4: Internationalization Trends - 39 of the billion-yuan private equity firms have obtained the Hong Kong 9 license, an increase of 4 firms since October, indicating a trend towards internationalization [4] Group 5: Performance Metrics - The average return for billion-yuan private equity products from January to November is 29.44%, with quantitative products yielding an average return of 34.42%, outperforming non-quantitative products by over 10% [7] - The top three performing private equity firms from January to November are Lingjun Investment, Yuanxin Investment, and Fusheng Asset, with closely matched returns [7][12] Group 6: Long-term Performance - Over the past three years, the average return for billion-yuan private equity products is 69.72%, with the top firms being Jiuqi Investment, Dongfang Port Bay, and Qianyan Private Equity [12][19] - In the last five years, the average return is 87.07%, with Fusheng Asset leading the performance rankings [19]