Group 1 - The A-share market showed a continuous recovery in July, leading to an explosive growth in private equity fund registrations, with a total of 1,298 funds registered, a month-on-month increase of 18%, marking the highest monthly registration since 2025 and breaking a 27-month record [1][3] - Year-to-date, the cumulative number of registered private equity securities products reached 6,759, representing a year-on-year increase of 61.39% [1] Group 2 - The surge in private equity fund registrations was driven by three main factors: the strong performance of the A-share market, the excellent performance of quantitative strategy products attracting significant capital inflow, and the continuous optimization of supply with top institutions and quality products emerging [3] - Equity strategies dominated the private equity fund registration market, accounting for nearly 70% of the total, with 887 equity strategy funds registered in July, reflecting a 24.58% month-on-month growth [4] Group 3 - Multi-asset strategies showed significant growth, with 162 funds registered in July, accounting for 12.48% of the total, indicating a rising demand for diversified allocation as investors seek to mitigate risks from single market volatility [4] - The number of registered funds from billion-level institutions led the market, with 48 out of 676 private equity institutions being billion-level, and the top twelve institutions in terms of registration volume were all billion-level [5] Group 4 - Quantitative product registrations saw a nearly 20% month-on-month increase, making up approximately 47.77% of the total registered products in July, with a total of 620 quantitative products registered [5] - Year-to-date, the number of registered quantitative products reached 3,081, representing a year-on-year increase of 77.68%, with equity strategies being the main contributors to quantitative product registrations [5]

Core Insights - The private equity industry has experienced a surge in product registrations since 2025, with a total of 4,361 private securities products registered by May 31, marking a significant increase of 45.03% compared to the same period last year [1] - In May alone, the number of registered products reached 870, reflecting a year-on-year growth of 77.19% [1] Strategy Distribution - Equity strategies dominate the market, with 2,749 registered equity strategy products this year, accounting for 63.04% of the total [3] - Multi-asset strategies and futures/derivatives strategies follow, with 646 and 510 registered products respectively, representing 14.81% and 11.69% of the total [3] - In contrast, combination funds and bond strategies have lower market activity, with both categories failing to exceed 200 registered products this year [3] Quantitative Products - Quantitative private equity products have also shown strong performance, with a total of 1,930 registered since 2025, making up 44.26% of all private securities product registrations [3] - Within quantitative products, the majority are focused on equity strategies, with 1,339 registered products, which constitutes 69.38% of the total quantitative product registrations [3] - Futures/derivatives strategies and multi-asset strategies follow, with 299 and 231 registered quantitative products respectively, accounting for 15.49% and 11.97% of the total [3] Detailed Breakdown of Equity Strategies - Within the equity strategy category, the majority of quantitative products are derived from index enhancement strategies (quantitative long equity), with 850 registered products, representing 63.48% of the total registered equity quantitative products [4] - For futures/derivatives strategies, the predominant quantitative products are from the quantitative CTA strategy, with 285 registered products, making up 95.32% of the total registered quantitative products in this category [4]

Group 1 - The number of newly registered private equity funds has been declining, with only 54 new registrations in 2023 compared to 448 in 2022 and 312 in 2023 [3] - In April 2024, there were 16 new registrations, with a total of 5 private securities funds and 12 private equity and venture capital funds [3] - The trend shows a significant decrease in new registrations over the past three years, indicating a cooling market for private equity [3] Group 2 - Despite the decline in new registrations, there has been a surge in the registration of private securities products, with 3,491 products registered by April 30, 2024, a 38.81% increase from the previous year [3][4] - Stock strategies remain the dominant approach, accounting for 63.02% of the registered products, while multi-asset and futures strategies are gaining popularity [4] - Quantitative private equity products represent 43.83% of the total registered private securities products, with stock quantitative strategies leading the way [4] Group 3 - Small-scale private equity firms are the main contributors to the registered products, with 1,240 products from firms managing between 0-5 billion and 407 products from those managing between 5-10 billion [4] - The enthusiasm for A500 index enhancement products has increased, with 165 products registered in 2024, primarily driven by large private equity firms managing over 100 billion [4] - The growth of quantitative strategies in the private equity sector is attributed to improved liquidity in the A-share market and a rising demand for stable returns from investors [4]