平方和、鸣石领衔！云起、倍漾争锋…谁是量化多头年度“领跑者”？

Core Viewpoint - The A-share market showed a fluctuating upward trend in 2025, with major indices recording significant gains, including an 18.41% increase in the Shanghai Composite Index and a 49.57% rise in the ChiNext Index [2] Group 1: Market Performance - By the end of 2025, the Shanghai Composite Index rose by 18.41%, the Shenzhen Component Index increased by 29.87%, and the ChiNext Index surged by 49.57% [2] - The CSI 2000 Index and the Micro-cap Index, representing small and micro-cap stocks, performed exceptionally well, with increases of over 36% and 80% respectively [2] Group 2: Quantitative Strategies - In the context of deepening artificial intelligence and quantitative technologies, quantitative long strategies achieved impressive returns by systematically identifying investment opportunities in small and mid-cap stocks [2] - As of the end of 2025, there were 705 quantitative long strategy products that met ranking criteria, with an average annual return of 45.77%, significantly outperforming other secondary strategies [3] Group 3: Performance of Private Equity Strategies - The top-performing private equity strategies in 2025 included: - "Xi Ni Duo Sha" with 45.77% average return - "Subjective Long" with 37.78% - "Subjective CTA" with 34.50% [3][4] - The total number of products in the private equity secondary strategy category was 4,745, with an overall average return of 32.24% [4] Group 4: Leading Private Equity Firms - In the category of private equity firms managing over 100 billion, the top three firms were Lingjun Investment, Square and Investment, and Ming Stone Fund, with their average returns exceeding a certain threshold [5] - For firms managing between 20-100 billion, the leaders were Luxiu Investment, Yunqi Quantitative, and Beiyang Quantitative, with their average returns also surpassing a specific level [9] - In the 5-20 billion category, the top three firms were Longyin Huxiao, Zhongmin Huijin, and Shanghai Zijie Private Equity [12][14] Group 5: Emerging Private Equity Firms - Guangzhou Chuan Shan Private Equity led the 0-5 billion category, with its top product achieving a remarkable return [16][17] - The firm was established in 2022 and focuses on quantitative investment, aiming for absolute returns through diversified strategies and strict risk control [17]