Core Viewpoint - The recent decline in wealth management yields, combined with a recovery in the capital market, has led to a gradual increase in the sales of private securities investment products [1]. Group 1: Product Registration and Market Trends - In the first half of the year, a total of 5,461 new private securities investment products were registered, marking a year-on-year increase of 53.61% and a month-on-month increase of 100.48% [2][3]. - In June alone, 1,100 private securities investment funds were registered, achieving a monthly record high for the year with a month-on-month growth of 26.44% [3]. - Stock strategies remain the dominant force in private fund registrations, with 3,458 new stock strategy private products accounting for 63.32% of the total registered products [3]. Group 2: Performance of Investment Strategies - Quantitative strategies have emerged as a mainstream direction in the market, with 2,448 registered quantitative strategy private products, of which 1,715 are stock quantitative strategies, representing 70.06% [3]. - The most favored strategy within stock quantitative strategies is the index enhancement strategy, with 1,061 registered products, making up 61.87% of the stock quantitative strategies [3]. - The top three performing strategies in the first half of the year were the Tangpu 1000 Index Enhanced Private Index (+15.87%), Tangpu Subjective Growth Private Index (+12.80%), and Tangpu 500 Index Enhanced Private Index (+10.66%) [5]. Group 3: Market Outlook and Investment Focus - Private equity institutions are generally optimistic about the market in the second half of the year, focusing on sectors such as technology, consumer goods, innovative pharmaceuticals, and dividend assets [8]. - The liquidity environment is expected to remain relatively loose, reducing the likelihood of systemic risks, as domestic policies are anticipated to become more proactive [8]. - Investment strategies proposed include a focus on high-quality companies in undervalued sectors, particularly in the internet, electronics, and automotive industries, alongside a focus on high-potential innovative growth companies [8].

Core Viewpoint - The recent decline in wealth management yields, combined with a recovery in the capital market, has led to a gradual increase in the sales of private securities investment products [1]. Group 1: Product Registration and Market Trends - A total of 5,461 new private securities investment products were registered in the first half of the year, representing a year-on-year increase of 53.61% and a month-on-month increase of 100.48% [2][3]. - In June alone, 1,100 private securities investment funds were registered, marking a monthly record high for the year with a month-on-month growth of 26.44% [3]. - Stock strategies remain the dominant force in private fund registrations, with 3,458 new stock strategy private products accounting for 63.32% of total registrations [3]. Group 2: Performance of Quantitative Strategies - Quantitative strategies have emerged as a mainstream direction in the market, with 2,448 registered quantitative strategy private products, of which 1,715 are stock quantitative strategies, making up 70.06% [3]. - The index enhancement strategy is particularly favored, with 1,061 registered products, representing 61.87% of stock quantitative strategies [3]. - The top three performing strategies in the first half of the year were the Tongpu 1000 Index Enhancement Private Index (+15.87%), the Tongpu Subjective Growth Private Index (+12.80%), and the Tongpu 500 Index Enhancement Private Index (+10.66%) [5]. Group 3: Market Outlook and Investment Focus - Private institutions are generally optimistic about the market in the second half of the year, focusing on technology, consumption, innovative pharmaceuticals, and dividend assets [9]. - Clear and favorable domestic policies are expected to maintain a relatively loose liquidity environment, reducing the likelihood of systemic risks [9]. - Investment strategies include a focus on high-quality companies in sectors such as AI applications, upstream resources, new consumption, and innovative pharmaceuticals [9].