Group 1 - 华夏基金 announced the opening of its 华夏安泰对冲策略3个月定期开放灵活配置混合基金 for subscription, redemption, and conversion from May 16 to May 22, 2025, with a total scale limit of 2.3 billion yuan [1] - The 华夏安泰对冲策略3个月定开基金 has achieved a cumulative net value growth rate of 23.28% and an annualized return of 4.33% since its establishment in June 2020, ranking first among similar products [1] - The fund's scale has been continuously growing since Q2 2023, reaching 2.304 billion yuan in mid-2024, and has implemented scale control measures since the open period in August 2023 [1] Group 2 - The average return rate for 42 hedge strategy funds in the market as of May 12 is 0.85%, with 80% of products achieving positive returns, and the best-performing funds exceeding a 3% return [2] - The total scale of hedge strategy funds in the market has declined recently, with a total scale of less than 5.5 billion yuan as of Q1 2025, a decrease of nearly 20% compared to the end of last year and over 35% compared to mid-last year [2] - The scale control mechanism implemented by funds is believed to help maintain operational stability and provide a better investment experience for holders [1]

Group 1 - The core viewpoint of the news is that both Huaxia Antai and Invesco Great Wall have announced scale control measures for their hedge fund strategies during the open subscription periods, indicating a cautious approach to fund management amid market fluctuations [1][2][5] - Huaxia Antai Hedge Strategy has set a total scale limit of 2.3 billion RMB for its open period from May 16 to May 22, 2025, to protect the interests of existing fund holders [2][5] - Invesco Great Wall's hedge strategy has a scale limit of 3 billion RMB for its upcoming open period from May 9 to May 15, 2025, also employing a "proportional confirmation" principle for subscription applications [5][6] Group 2 - Despite the positive performance of hedge funds this year, with an average return of 0.85% and nearly 80% achieving positive returns, the overall scale of hedge strategy funds has been shrinking since the second half of last year [7][8] - As of the end of the first quarter, the total scale of hedge strategy funds was approximately 5.5 billion RMB, a decrease of nearly 20% from the end of last year and over 35% compared to mid-last year [9] - The market environment has shown resilience, but the performance of hedge funds has been mixed, with smaller, high-growth stocks performing better than high-profit, low-valuation stocks, leading to a general underperformance of quantitative strategies [9]