Group 1 - The average net value growth rate of products from 36 billion-level quantitative private equity institutions reached 18.92% in the first seven months, with all achieving positive net growth [1][2] - Among the 90 billion-level private equity institutions by the end of July 2025, 44 are quantitative, indicating a strong market preference for quantitative strategies [1] - In July, three subjective private equity institutions exited the billion-level club, while three new or returning institutions joined, with two being quantitative, reflecting ongoing market interest in quantitative strategies [1] Group 2 - In the 55 billion-level private equity institutions with net value displays, the average net value growth rate was 16.60%, with 54 institutions achieving positive growth, representing 98.18% [2] - Among the 42 billion-level private equity institutions with an average net value growth rate exceeding 10%, 32 are quantitative, highlighting their superior performance compared to subjective and mixed strategy institutions [2] - The average net value growth rate for 16 billion-level subjective private equity institutions was 13.59%, with 15 achieving positive growth, indicating a relatively weaker performance compared to quantitative peers [3] Group 3 - The active trading and accelerated sector rotation in the A-share market this year have created favorable conditions for quantitative strategies, particularly benefiting from the strength of small-cap stocks [3] - Quantitative private equity institutions demonstrate strong competitiveness in specific market environments due to their systematic advantages, while subjective institutions face greater challenges in rapidly changing markets [3]