Core Viewpoint - The article highlights the resurgence of stock strategy products in 2023, marking a significant performance recovery after nearly five years of stagnation, while CTA (Commodity Trading Advisor) strategies, although still yielding decent returns, are losing visibility in the current bullish market [2][5]. Group 1: Performance of CTA Products - CTA strategies are recognized for their ability to navigate through market volatility, showcasing superior long-term returns compared to stock strategies, with a nearly 90% return over the past five years as per the 排排网 CTA优选指数 [2][5]. - As of the end of October, among private equity firms with over 5 billion in assets, 79 CTA products reported an average return of 10.54% this year, with a five-year average return of 89.62% [5][6]. Group 2: Top Performing CTA Products - The top three CTA products in the 50 billion and above category are managed by 均成资产, 宁水资本, and 宏锡基金, with their respective five-year returns being ***% [6][7]. - In the 20-50 billion category, the leading product is 草本投资's "草本致远1号B类份额," achieving a five-year return of ***% and a strong performance this year [8][9]. - For the 10-20 billion category, 共青城广聚星合私募's "广聚星合禾荃1号" leads with a five-year return of ***% [12][13]. - In the 5-10 billion category, 华澄私募's "华澄二号" tops the list with a five-year return of ***% [15][16]. - Among firms with less than 5 billion, 固利资产's "量磁群英1号" stands out with a five-year return of ***% [18][19]. Group 3: Fund Managers and Strategies - The fund manager for 均成资产, 司维, has a strong background in data analysis and investment management, contributing to the product's diversified strategy [7]. - 邓飞 from 宁水资本 specializes in macro investment and bond trading, focusing on government bond futures [7]. - 刘智勇 from 草本投资 has extensive experience in the oilseed market, enhancing the product's performance through industry knowledge [10][11]. - 李婷 from 共青城广聚星合 has a decade of experience in futures and commodity strategies, leading to the product's strong performance [13][14]. - 颜学阶 from 华澄私募 has been dedicated to quantitative investment for over a decade, refining multi-strategy approaches [17].

Core Viewpoint - The article highlights the significant growth in the quantitative private equity sector, with an increase in the number of top-tier firms and their management scale, driven by the popularity of quantitative investment strategies and market trends [1]. Group 1: Growth of Quantitative Private Equity - As of the end of August 2025, the number of top quantitative private equity firms with management scales exceeding 5 billion yuan has risen to 78, marking an approximate 28% increase from January 2025 [1]. - Among these firms, 45 manage over 10 billion yuan, while 33 have management scales between 5 billion and 10 billion yuan [1]. Group 2: Performance of Top Firms - The top quantitative private equity founders, who are also fund managers, have an average return of 28.81% this year, with an average excess return of 11.12% [1]. - The total number of products managed by these founders that meet ranking criteria is 202, with a combined scale of approximately 28.064 billion yuan [1]. Group 3: Notable Founders and Their Strategies - Xie Xiaoyang, founder of Tianyan Capital, has 12 products with a total scale of approximately 2.174 billion yuan, achieving outstanding excess returns [4]. - Liu Xibin, founder of Hongxi Fund, manages 13 products with a total scale of approximately 1.280 billion yuan, focusing on quantitative trend strategies [7]. - The founders of Heiyi Asset, Zhou Yitian and Chen Zehao, have 21 products with a total scale of approximately 2.419 billion yuan, emphasizing risk control and stable returns [10]. Group 4: Emerging Trends and Innovations - Wu Di, founder of Century Frontier, is focusing on AI developments in quantitative strategies, indicating a shift towards building intelligent systems for strategy development [17].