本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 在当前A股的慢牛行情下，不再仅仅是一场"谁跑得更快"的短跑竞赛，而是一场"谁跑得更稳、效率更高"的综合性耐力比拼。对于追求资产长期 增值的投资者而言，一个在专业领域逐渐被普通投资者所熟知的指标——夏普比率，便成为了衡量的"标尺"。 简单来说，夏普比率就是衡量"每多承担一单位风险，能够换来多少超额回报"。夏普比率越高，说明该基金的风险调整后收益能力越强，投资效 率也越高。夏普比率越高同时也意味着该基金经理不仅具备赚钱能力，更拥有优秀的风控意识和精细的投资效率。 在不同规模私募中，百亿私募凭借更强大的投研实力、更丰富的数据资源等，今年来夏普比率表现明显领先于其他规模私募， 662只百亿私募旗 下的产品，今年来夏普均值高达2.5349。 | 公司规模 | 符合排名规则的产品数 产品规模合计(万元) | | 今年来收益均值 | 今年来夏普均值 | | --- | --- | --- | --- | --- | | 100亿以上 | 662 | 12237035.22 | 30.15% | 2.5349 | | 50-100亿 | 373 | 471003 ...

Core Viewpoint - The article discusses the performance of private equity funds in the context of a bullish market trend in A-shares, emphasizing the importance of both offensive and defensive capabilities of these funds to capture investment opportunities and mitigate risks [1][3]. Offensive Capability (Upward Capture Rate) - Offensive capability measures how sensitive a fund is to market uptrends, with a higher value indicating stronger performance against the market. The upward capture rate is calculated as: (Cumulative return of the portfolio during the benchmark's up period + 1) / (Cumulative return of the benchmark during the up period + 1) - 1 [2]. Defensive Capability (Downward Capture Rate) - Defensive capability assesses how well a fund performs during market downturns, with a lower value being preferable. A negative value indicates that the fund can generate positive returns even in a declining market. The downward capture rate is calculated similarly to the upward capture rate but focuses on down periods [3]. Performance Summary of Private Equity Funds - For the year to date, the average return of 4,377 qualifying private equity products is 15.28%, with an average offensive capability of 1.356 and a defensive capability of 0.128. The top three funds in terms of offensive capability among large private equity firms (over 5 billion) are from Yuanxin Investment, Harmony Huiyi Asset, and Longqi Technology [5]. - The top fund, "Yuanxin China Active Growth C Class," managed by Wang Aoye, has achieved significant returns and is noted for its strong offensive capability [5][6]. - In the small private equity category (under 5 billion), the top three funds are from Nengjing Investment Holdings, Hunan Zijin Private Equity, and Jiuge Investment [8]. Recent Performance Trends - Over the past year, the average return of 4,165 qualifying products is 36.34%, with an overall offensive capability of 0.975 and a defensive capability of -0.130. The leading funds in this category are from Jiuqi Investment, Heiyi Asset, and Stable Investment [10]. - The top fund, "Jiuqi Value Selection No. 1," managed by Jiang Yunfei, has demonstrated strong performance metrics [12][13]. Three-Year Performance Overview - For the past three years, the average return of 2,638 qualifying products is 43.03%, with an average offensive capability of 0.881 and a defensive capability of 0.248. The top funds in this category are from Qianhai Bopu Asset, Kaishi Private Equity, and Hainan Xiwa [16]. - The leading fund, "Bopu Value Far-reaching No. 1 A Class," managed by Yuan Hao, has shown impressive performance [18][19].