年内管理规模连升3级！这家势头强劲的量化私募如何实现“惊艳”业绩？| 私募深观察

Core Viewpoint - The article focuses on Hanrong Investment, a quantitative private equity firm that has achieved significant returns through advanced machine learning methodologies in investment strategies [5][6][8]. Company Overview - Hanrong Investment specializes in quantitative investment, utilizing mathematical statistics and machine learning to develop strategies aimed at consistently outperforming benchmark indices [6][8]. - The firm was established in December 2015 and has seen its management scale exceed 4 billion yuan by the end of November 2025 [9]. Investment Strategies - The core strategy of the company is based on an end-to-end machine learning methodology, focusing on short-cycle Alpha strategies with prediction horizons ranging from intraday to three days [11]. - The company has transitioned from a traditional multi-factor system to an end-to-end machine learning approach, enhancing the breadth and depth of Alpha sources [16]. Product Line - Hanrong Investment's product offerings include quantitative long/short, index enhancement, and market-neutral series, with a focus on maintaining full positions without timing signals [12]. - The representative products include "Hanrong Lion Quantitative Selected No. 1" and "Hanrong Libra Quantitative Hedge No. 3," both of which have shown strong performance metrics [14][15]. Research and Development - The company has developed a comprehensive end-to-end deep learning research and trading lifecycle management platform to ensure systematic and unified research processes [17]. - The investment research team has maintained a zero turnover rate since its formation in 2021, emphasizing stability and a clear incentive structure for employees [22]. Risk Control - Hanrong Investment employs a systematic risk control framework throughout the strategy development, trading execution, and daily operations, which has allowed it to navigate market volatility effectively [23]. - The firm utilizes the BARRA CNE5 risk model for controlling style exposures relative to benchmark indices, ensuring strict adherence to risk management protocols [18]. Future Outlook - The company aims to continue its technology-driven approach, focusing on the integration of artificial intelligence in quantitative investment, and enhancing its capabilities in data, computing power, and algorithms [25][26]. - By systematically planning and laying out its three core elements, Hanrong Investment seeks to maintain a competitive edge in the market and deliver consistent excess returns to investors [28].