21世纪经济报道记者易妍君 广州报道市场风险偏好回升背景下，私募证券投资基金日益活跃。 根据私募排排网最新统计，今年前4个月，已有1372家私募证券投资基金管理人备案了新产品，累计备 案私募证券产品3491只，较2024年同期的2515只增长了38.81%。其中，4月新备案的私募证券产品数量 达到1170只，创下近24个月内单月最高纪录。 值得一提的是，伴随A股市场流动性回暖，量化策略逐渐成为市场主流策略之一。特别是以指数增强 （简称"指增"）为代表的股票量化策略颇受机构青睐。例如，今年以来，包括黑翼资产、宽德私募、世 纪前沿在内，多家"百亿"（管理规模超过100亿元以上，下同）私募均备案了A500指数增强产品。 "量化策略在私募领域的应用广度与深度持续拓展，已发展成为投资者资产配置的核心组成部分。"融智 投资FOF基金经理李春瑜向21世纪经济报道记者指出，随着市场参与者数量快速增长，量化行业竞争日 趋白热化，倒逼各机构通过构建差异化策略体系、强化技术研发投入和完善风险管理机制来提升核心竞 争力。 量化私募产品占比接近44% 2025年以来，A股市场逐步企稳，投资者情绪有所回暖，私募基金行业则掀起了备案新产品 ...

5月8日，上海科创银行联合浦发银行、上海国投先导私募基金在上海举办"临界点・跃迁力——硬科技 及医疗项目融资路演专场"。会议旨在聚焦前沿领域优质项目，促进头部资本与科技创新精准对接，助 力优质项目全生命周期加速成长。 来自人工智能、集成电路、生物医药领域的多家高成长科创企业登台路演介绍自身技术优势、产业化进 展以及融资需求。30余家知名风险投资机构参与本次路演，会后与意向企业进一步资本对接、深度交 流。 浦发银行总行战略客户部总经理李林女士、上海国投先导私募基金管理有限公司副总经理何苗女士、上 海科创银行有限公司行长陆珏女士出席活动并致辞。 浦发银行总行战略客户部总经理李林 上海科创银行行长陆珏在致辞中表示，上海科创银行始终致力于成为科创生态圈的超级链接者，今天， 我们很高兴与浦发银行、上海国投先导基金的专业团队强强联手，汇聚了经验丰富的耐心资本和产业资 源，为优秀科创项目提供强有力的生态能量。我们相信，在生态伙伴的共同努力下，大家一定能并肩跨 越临界点、共同拥抱新时代下的新机遇。 本次路演成功搭建了科创企业与投资机构之间沟通的桥梁，促进了科技与资本的深度融合。上海科创银 行将持续秉持服务科创企业的初心、不断 ...

Group 1 - The article highlights the emergence of six innovative technology companies in Hangzhou, referred to as the "Six Little Dragons," symbolizing the city's transformation into a hub for technological innovation [1][7] - Hangzhou's innovation ecosystem is supported by a vast network of startups and established industry leaders, emphasizing the need for financial support from various sources, including angel investments and large asset management [1][2] - The local government plays a crucial role in fostering a favorable business environment for tech startups, providing incentives and support services that encourage innovation and growth [4][6] Group 2 - The shift from "wild growth" to "high-quality development" in Hangzhou's financial sector is characterized by a focus on larger investments in established industries, enhancing the overall innovation landscape [2] - The government has implemented several forward-looking policies to promote strategic emerging industries, including the establishment of large-scale industry funds to support innovation [11][12] - The integration of capital and industry is being actively pursued, with recommendations for collaboration between government funds and leading enterprises to strengthen the innovation ecosystem [13][14] Group 3 - The article emphasizes the importance of capital in empowering technology companies, enabling them to grow and compete effectively in the market [16][17] - Hangzhou has become a gathering place for major industry leaders, supported by a robust financial infrastructure that facilitates the growth of both small startups and large enterprises [16][17] - The synergy between innovation and capital is seen as a driving force behind Hangzhou's emergence as a significant player in the tech industry [17]

【导读】上海证监局向辖区私募管理人发送通知，股权创投、主观和量化证券基金自评自纠要点出炉 近日，上海证监局向辖区私募基金管理人发送了《关于规范上海辖区私募基金管理人经营运作的通知》 （以下简称《通知》），要求私募管理人开展学习和自评，并在2025年6月15日之前完成自评自纠，形 成相关报告，并及时整改发现的问题。《通知》对股权创投基金、主观策略证券基金、量化策略证券基 金提出了不同的自查要求。 具体来看，《通知》要求私募对公司基本情况、存续私募基金运行情况、出资设立未备案合伙企业情况 开展自评自纠，但2025年5月31日之前已发布清算公告的私募基金或已提起工商注销流程的未备案合伙 企业，可不纳入本次自评自纠。 投资运作方面，《通知》对三类不同私募基金提出了不同的自评自纠要求： 一是股权创投类基金，自评是否聘请专业托管机构，如无，是否明确保障私募基金财产安全的制度措施 和纠纷解决机制；是否将投资管理职能部分或全部交由第三方或投资者行使；是否按照合同约定进行投 资；投资前是否开展尽职调查，是否存在自融自用、明股实债等情况；是否存在滚动发行、分离定价、 募新还旧等资金池运作情形；涉及关联交易是否履行约定的审核程序并 ...

Core Viewpoint - The Shanghai Securities Regulatory Bureau has issued a notice to enhance the compliance and operational standards of private fund managers in the region, emphasizing the need for self-assessment and rectification amidst increasing regulatory scrutiny [1][2][3] Regulatory Requirements - Private fund managers in Shanghai are required to organize collective learning sessions on relevant laws and regulations, including the Securities Investment Fund Law and the Private Investment Fund Supervision Regulations [2] - Participation in compliance training is mandated, with the Shanghai Securities Regulatory Bureau providing guidance and resources for private fund managers to improve their operational compliance [2] - A self-assessment and rectification process must be conducted by private fund managers, focusing on their operational status, fund performance, and any unregistered partnerships [2][3] Self-Assessment Focus Areas - The notice outlines specific self-assessment requirements for different types of private funds, including checks on investment management practices, compliance with fund contracts, and the handling of fund assets [4][5] - For equity investment funds, managers must verify the use of professional custodians and assess potential conflicts of interest and fund pooling practices [4] - For quantitative strategy funds, self-assessment must include evaluations of risk management, model testing, and the adequacy of IT systems [5] Market Activity - Despite stricter regulations, the enthusiasm for new private fund products remains high, with a nearly 40% year-on-year increase in the number of private fund product registrations in 2024 [1][6] - In April, 638 private securities managers registered a total of 1,170 private securities products, marking a 12.18% increase from March and the highest monthly registration in nearly two years [6][7] - Equity strategy products accounted for over 64% of the total registrations in April, indicating a renewed investor interest in stock assets [6][7]

Group 1 - The number of private equity securities products registered in April continued to grow, with 638 private equity fund managers registering a total of 1,170 products, reflecting a month-on-month increase of 12.18%, marking a new high for single-month registrations in nearly two years and indicating a significant rebound in investor confidence [1] Group 2 - Among the registered products, stock strategy products dominated with 752 registrations, accounting for 64.27% of the total, indicating a clear recovery in investor enthusiasm for stock assets [2] - Multi-asset strategy products and futures and derivatives strategy products followed with 173 and 133 registrations, representing 14.79% and 11.37% respectively [2] - The CSI A500 Index Enhanced product emerged as a notable innovation, with 50 registrations in April, a month-on-month increase of 6.38%, bringing the total for the year to 165 [2] Group 3 - The increase in registrations for the CSI A500 Index Enhanced product is attributed to a rise in investor risk appetite and enhanced promotional efforts from distribution channels, alongside favorable policies and a general rebound in the A-share market [3] - The CSI A500 Index Enhanced strategy is characterized by a diverse range of factors contributing to excess returns, making it appealing for quantitative private equity institutions [3] Group 4 - As competition intensifies among private equity institutions, developing differentiated competitive strategies has become a core challenge [4] - Quantitative private equity institutions are advised to leverage their comprehensive strengths, particularly in research and investment capabilities, while increasing investments in technology, talent, and risk management [4] - A robust risk management system and a strong reputation are essential for long-term stability and success in the competitive landscape [4]

【导读】深圳证监局通报辖区部分私募六大典型问题 5月8日，深圳证监局发布深圳私募基金监管情况通报，对辖区部分私募基金管理人存在的违法违规情形 进行了通报，并提出了监管要求。根据通报，有股权类机构将募集资金挪用至个人及其关联账户，有证 券类私募产品嵌套层级高达十层。 近年来，深圳证监局在日常监管中发现，辖区部分私募基金管理人存在违反法律法规规定、违反基金合 同约定开展投资运作的情形，产品估值、申购赎回及关联交易等展业行为损害投资者权益的情形较为突 出，个别机构触犯挪用基金财产的底线要求。 深圳证监局表示，发生上述情形的核心原因在于，私募基金管理人在私募基金投资运作过程中未谨慎勤 勉履行投资管理义务。 深圳证监局通报了六大典型问题，包括挪用基金财产、投资运作违反监管要求、投资运作违反基金合同 约定、关联交易未履行合同约定的决策机制、净值失真期间允许开放申赎、未按合同约定支付赎回款。 在挪用基金财产方面，深圳证监局表示，某股权类私募机构在所管理的私募基金到期清算前，未征得所 有投资者同意，通过控制底层资产项目公司网银账户的方式，将部分基金财产从底层资产转回该机构自 有资金账户，供其关联方及其他基金产品使用。某股权类 ...

机构简介： 敦和资产管理有限公司成立于 2011 年3月2日，是一家中国本土成长起来的、致力于国内外资本市场投 资的全球宏观私募基金公司。多年以来，敦和资管逐步探索并形成了基本面驱动的股票、债券和大宗商 品等多资产配置，现货、期货、期权和场外衍生品等多工具使用，以及不同风险收益特征的多策略构建 能力。在此基础上，公司形成了宏观对冲，多资产组合及系统化多策略的三大系列大类资产配置私募基 金产品。围绕建立"一切以客户为中心"的一流资产管理机构发展目标，敦和资管已经建立并形成了包括 投研、系统建设、市场销售、合规风控、人力资源和财务支持的前中后台全面保障运营体系。目前，公 司资产管理规模超过 400 亿元人民币，名列私募证券投资基金行业前列。xa0 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 根据市场公开信息及5月6日披露的机构调研信息，知名私募敦和资管近期对1家上市公司进行了调研， 相关名单如下： 1）赛意信息 （敦和资管参与公司线上电话会议） 调研纪要：公司领导介绍了公司基本情况、业务模式、经营模式及未来发展方向，并与机构人员交流。 ...

Group 1: New Regulations on Housing Standards - The national standard "Residential Project Specification" will be implemented starting May, raising the minimum height of new residential buildings to 3.00 meters and requiring each unit to have rooms that meet daylight standards [2] - The new regulations also enhance sound insulation requirements between bedrooms, living rooms, and adjacent rooms, as well as for external windows and noise from building equipment [2] - Elevators must be installed in buildings with four or more floors according to the new housing standards [2] Group 2: Marriage Registration Reforms - The revised "Marriage Registration Regulations" will take effect on May 10, 2025, introducing nationwide marriage registration services and eliminating fees for registration [5] Group 3: Consumer After-Sales Service Standards - The new "Consumer After-Sales Service Methods and Requirements" standard will be implemented on May 1, 2025, emphasizing timely response, professionalism, convenience, and transparency in after-sales services [8] - The standard includes new service types such as delivery, extended warranty, and recycling, while enhancing consumer data privacy protections [8] Group 4: Return Policy Regulations - The "After-Sales Service No-Reason Return Service Specification" will be implemented on May 1, 2025, outlining conditions and processes for no-reason returns for both online and in-store sales [10] Group 5: Food Safety Reporting System - A national food safety reporting system will be launched in May to encourage reporting of food safety violations and risks, enhancing community involvement in food safety [12] Group 6: Rural Women's Rights Protection - The "Rural Collective Economic Organization Law" will take effect on May 1, 2025, strengthening the protection of rural women's rights and ensuring equal rights in collective economic organizations [15] Group 7: Tax Professional Service Regulations - The "Tax Professional Service Management Measures (Trial)" will be implemented on May 1, focusing on improving service quality and establishing a credit and risk management mechanism for tax services [17] Group 8: Energy Consumption Standards - Thirteen mandatory national standards, including "Energy Consumption Limits for Refining and Chemical Industry Products," will be implemented on May 1, expected to save 24.52 million tons of standard coal annually [19]

为进一步提升私募机构合规意识和水平，增强对法规及自律规则要求的理解和掌握，中国证券投资基金 业协会（以下简称"基金业协会"）将在全国开展2025年私募基金合规系列培训。4月25日，基金业协会 与北京证监局、北京基金小镇投资者教育基地在京举办了该系列的首场培训。北京证监局、基金业协会 领导先后做开班致辞，表示将服务和推动私募基金行业规范运作、高质量发展。 培训邀请证监会市场二司、北京证监局相关业务负责人以及基金业协会相关业务骨干授课。来自北京、 天津、河北、山东、山西、内蒙古、青岛地区的私募基金管理人的高管，共计130余家机构的200余人参 加面授培训。 基金业协会相关业务负责人及骨干详细解读了私募基金管理人登记和持续运作标准、事中事后管理和登 记信息变更要求，私募基金备案规则体系、基金备案和《运作指引》重要条款及注意事项，介绍了市场 风险与监管要求，剖析了私募基金纪律处分典型案例，切实帮助私募基金管理人全面、准确掌握合规要 求，提高专业化运作水平。 随着相关法规及自律规则的不断完善，私募行业的发展将更加规范化、专业化。北京基金小镇相关负责 人表示，将在基金业协会、北京证监局的支持和指导下，充分发挥国家级投资者 ...