Core Insights - In September 2023, A-shares indices reached new highs, with the Shanghai Composite Index rising 0.64%, while the Shenzhen Component and ChiNext Index increased by 6.54% and 12.04% respectively [2] - A total of 2,993 private equity products achieved historical net value highs in September, representing approximately 62.22% of products established for over a year [2] - Among these products, 1,125 were quantitative, and 1,868 were non-quantitative, with stock strategy products being the most prevalent [2][3] Product Types - Stock strategy products accounted for 1,931, approximately 64.52% of the total, followed by multi-asset strategy products (443), futures and derivatives strategy products (339), bond strategy products (173), and combination fund products (107) [2] - The majority of products (1,252) came from private equity firms with assets under management below 500 million, while 429 products were from firms with over 10 billion [3] High-Performing Private Equity Firms - A total of 66 private equity firms had all their products reach historical highs in September, with 40 being subjective private equity firms, 19 quantitative, and 7 combining both strategies [4][5] - Among these, 8 firms with over 10 billion in assets included notable names such as Fusheng Asset and Ningbo Huanfang Quantitative [5] Notable Products - The "Double Ten Fund" category, which includes products established for over 10 years with annualized returns exceeding 10%, featured 30 products, predominantly subjective long products [13] - The top-performing products in the quantitative long category had a threshold return of over ***% [16] Investment Strategies - The quantitative long strategy had 476 products achieving historical highs, with the top five returns coming from firms like Huanrong Investment and Longyin Tiger Roar [16] - For subjective long strategies, 606 products reached new highs, with the top five returns from firms such as Shanghai Geru Private Equity and Beijing Xiyue Private Equity [19] Multi-Asset and Derivatives Strategies - Multi-asset strategy products numbered 268, with the top five returns coming from firms like Juku Investment and Yiku Capital [28] - In the futures and derivatives strategy category, 149 products reached historical highs, with a focus on quantitative and subjective CTA strategies [33]