● 本报记者王宇露 中国证券投资基金业协会发布的最新数据显示，截至7月30日，7月以来备案的私募证券投资基金已达 1203只，创下今年以来单月新高。在市场逐步回暖的背景下，投资者热情逐步回升。整体来看，量化产 品依然是备案的主力军。在投资者对量化产品热情高涨之际，多家量化私募相继宣布对部分产品进行封 盘。 私募发行市场回暖 中国证券投资基金业协会网站显示，截至7月30日，7月以来共有1203只私募证券投资基金完成备案。此 前，6月共有1075只私募证券投资基金备案，4月有1138只完成备案，3月有1007只完成备案，其他月份 均未超过1000只。 7月私募证券投资基金备案数量再次突破1000只的同时，也创下今年以来单月备案数量的新高。业内人 士认为，在市场逐步回暖、指数不断走高的背景下，投资者热情逐步回升，这是私募发行市场回暖的主 要原因。 从备案的私募管理人来看，量化私募依然是备案新产品的主力军，九坤投资、明汯投资、蒙玺投资、世 纪前沿、宽德私募、量派投资等知名量化私募均有一些新产品完成备案。知名主观股票多头私募中，华 安合鑫、星石投资、重阳投资等也有新产品备案，但备案数量相对较少。 7月31日，广东宏锡基 ...

Group 1 - The number of private securities investment funds registered in July reached 1,203, setting a new monthly record for the year, indicating a recovery in the private placement market as investor enthusiasm rises [1] - Quantitative products remain the main force in the registration of new private funds, with notable firms like Nine Kun Investment and Ming Cong Investment launching new products [1] - The overall private fund issuance market shows a warming trend, with the number of registered funds in previous months being lower, such as 1,075 in June and 1,138 in April [1] Group 2 - Guangdong Hongxi Fund Management announced the suspension of fundraising for some of its traditional quantitative CTA products starting August 1, 2025, to focus on existing investors and enhance service quality [2] - The firm has managed assets between 5 billion and 10 billion yuan, emphasizing a cautious management principle regarding strategy capacity limits [2] - Other quantitative private funds have also announced similar suspensions, indicating a trend of selective fundraising in the market [3] Group 3 - The private fund issuance market is experiencing uneven performance, with quantitative funds attracting more capital compared to subjective funds, which struggle to achieve significant fundraising [3] - Some leading subjective private funds have also paused new client subscriptions, reflecting a cautious approach to managing growth and performance [3] - The macro environment is perceived as favorable for quantitative funds this year, leading to rapid sellouts of popular products, while many private institutions still face fundraising challenges [3]

● 本报记者 王宇露 百亿级量化私募衍复投资近日公告称，基于公司业务发展的战略规划以及对投资者利益的综合考量，计 划于7月1日起关闭所有中证500、中证1000、万得小市值概念指数增强产品的新客户申购。无独有偶， 渠道人士6月18日透露，知名量化私募宽德投资也将在6月30日全渠道进行封盘。此前，百亿级主观私募 睿郡资产也曾宣布旗下明星基金经理董承非所管产品封盘。 尽管封盘的消息时有传出，不过从整体上来看，私募发行市场仍然呈现冷热不均的态势，产品热销现象 仅发生在极少数头部绩优私募上，大多数私募机构仍面临募资难题。 封盘现象频现 中国证券报记者近日从销售渠道处获悉，衍复投资近日发布公告称，计划于7月1日起关闭所有中证 500、中证1000、万得小市值概念指数增强产品的新客户申购，已持有投资者追加投资不受影响。 量化私募吸金能力更强 资料显示，2019年7月高亢创立衍复投资，2020年1月衍复投资第一只产品建仓运作。同年6月，其管理 规模破10亿元，同年10月管理规模破100亿元，仅用了不到一年半的时间就步入"百亿俱乐部"。据悉， 衍复投资最新管理规模超700亿元。私募排排网数据显示，截至今年5月底，衍复投资旗下 ...

Group 1 - The private equity industry is witnessing a trend of limiting new client subscriptions, signaling a strategic shift towards managing fund sizes to protect existing investors' interests [2][3][4] - Quantitative private equity firms, such as Yuanfu Investment and Longqi Technology, have announced plans to close certain products to new investors, while allowing existing clients to continue investing [2][3] - The rationale behind these actions includes preventing dilution of investment returns and ensuring that fund managers can maintain performance amid market volatility [4][5] Group 2 - The trend of limiting subscriptions reflects a cautious approach by private equity firms in response to current market uncertainties, indicating a focus on long-term performance rather than rapid growth [5][6] - Recent data shows that retail investor sentiment is improving, with significant net inflows into the A-share market, suggesting a potential recovery in market conditions [6][7] - Private equity firms are increasingly focusing on sectors such as semiconductors and medical devices, with a notable increase in research activity in these areas [10][11]

Group 1 - The core viewpoint is that multiple quantitative investment strategies at Yanfu Investment will suspend new client subscriptions starting July 1, 2023, to prioritize business development and investor interests [1] - Yanfu Investment will stop accepting new subscriptions for its index-enhanced products related to the CSI 500, CSI 1000, and Wind Small Cap Concept indices, while existing clients can still make additional investments [1] - Yanfu Investment is a leading quantitative private equity firm in China, founded by Gao Kang, who has a background in quantitative strategy and has previously worked at Two Sigma Investments and Ruitian Investment [1] Group 2 - Ruijun Asset, another private equity firm, announced it will suspend new client subscriptions for products managed by Dong Chengfei starting June 8, 2025, to prioritize performance and control scale [2] - This is the first time Dong Chengfei has taken such action since transitioning from public to private management three years ago, with his current management scale exceeding 10 billion [2] - The suspension aims to enhance product performance and better serve existing clients, with no impact on subscription activities for current clients [2]

Group 1 - The core viewpoint of the article highlights that another quantitative private equity firm, Rianfu Investment, has announced a closure of new client subscriptions for certain index-enhanced products due to limited strategy capacity, effective July 1 [2] - Rianfu Investment's current scale has exceeded 70 billion, surpassing other quantitative giants like Kuangde [2] - The Rianfu Zhongzheng 500 index-enhanced series has shown a year-to-date return of approximately 8.2%, significantly outperforming the Zhongzheng 500 index, which has only increased by 0.25%, resulting in an excess return of around 8% [2] Group 2 - Rianfu Investment was established in July 2019 and focuses on quantitative investment, quickly entering the hundred billion private equity ranks within a year of launching its first product [3] - The firm has diversified its strategies across various indices, including 300, 500, A500, 1000, small-cap, and hedging [3] - In recent months, several hundred billion private equity firms have announced closures to control their scale and ensure returns, indicating a trend in the industry [4]