又见“爆款”，私募市场“开门红”来了？

Core Viewpoint - The private equity market in China is experiencing a "good start" in 2026, with a notable increase in demand for quality subjective strategies and sustained interest in quantitative strategies [1][3]. Group 1: Market Trends - The Shanghai Composite Index has surpassed 4100 points, leading to a surge in private equity fundraising, exemplified by Shanghai Fusheng Asset's 10 billion yuan product that sold out in seconds [1]. - The current private equity issuance and sales show a "structured good start," with quantitative strategies maintaining high popularity and some outstanding subjective strategy products also experiencing "instant sell-out" phenomena [1][3]. - Compared to last year, the pace of private equity sales has accelerated, with investors showing increased demand for equity assets and quicker decision-making [1][7]. Group 2: Investor Behavior - Existing clients remain the primary source of funding, with new client entry being relatively slow but showing a growth trend [8][9]. - High-net-worth individuals continue to dominate subscription activities, with a notable increase in the willingness of ultra-high-net-worth clients to increase their allocations [8][9]. Group 3: Strategy Focus - Institutions are focusing on high-growth sectors, with a dual investment strategy that includes waiting for results in the innovative drug sector and embracing explosive growth opportunities in AI applications [11]. - The innovative drug sector is expected to capture 20% to 30% of the global market share in the next decade, indicating a significant growth potential [11]. - New consumption and the AI industry chain are identified as key focus areas for investment, driven by long-term growth logic and short-term performance support [12].