Group 1 - The core viewpoint of the articles highlights the resurgence of private equity firms venturing overseas, driven by a recovering market and increasing interest from international investors in the Chinese market [1][2] - Several private equity firms have obtained the Hong Kong Type 9 license, with a total of 87 firms holding this license as of July 21 this year, including 58 subjective and 20 quantitative private equity firms [2] - International investors are showing significant demand for access to the Chinese stock market, prompting private equity firms to develop products tailored to these investors [3] Group 2 - Chinese private equity firms are expanding their global presence to diversify revenue sources and enhance their investment capabilities, with a focus on A-share investments [2][5] - Domestic and foreign brokerages are actively supporting private equity firms in their overseas endeavors, providing services such as license applications, fundraising, and compliance support [4][5] - The integration of overseas trading systems is crucial for quantitative private equity firms, which rely on high-quality market data and efficient trading infrastructure [6] Group 3 - The current environment presents both opportunities and challenges for private equity firms, including the need for international experience and the high operational costs associated with overseas markets [7] - The interest from high-net-worth individuals in China for diversified investments is increasing, while international investors are also keen on the Chinese market, creating a "dual outbound" dynamic [7] - Understanding international investors' needs and clearly articulating investment strategies are essential for private equity firms to succeed in the global market [7]

【导读】私募出海风再起，券商竞逐相关业务 中国基金报记者 吴君 见习记者 舍梨 伴随着市场回暖，今年以来，私募出海风再起，多家私募取得香港9号牌，同时，一些私募获 得了海外机构资金青睐，将所募资金投向A股市场。 受访机构表示，中国市场的配置价值让私募出海更有"底气"，同时，通过全球化布局，私募 能够拓展多市场、多策略的收益来源。不少中资海外券商、外资券商积极竞逐私募出海业 务，提供牌照申请、资金募集、融资融券、交易等多种服务。当前，私募出海机遇与挑战并 存，私募需要专注于提升运营能力和积累海外基金投资业绩。 私募出海提速： 从牌照布局到竞争力构建 今年以来，黑翼资产、前海博普资产、磐松资产等量化私募获得了香港9号牌照，为未来业务 出海拿下许可证。据私募排排网统计，截至今年7月21日，已获得9号牌照且牌照为存续状态 的私募共有87家，其中，主观私募有58家，量化私募有20家，"主观+量化"的私募有9家。 "据我了解，今年有几家私募拿到了中东、欧洲的资金，如养老金、主权基金等长线资金。与 此同时，一些海外机构投资人想接触和了解优质的中国管理人，因为现在他们对中国市场兴 趣浓厚，希望积极配置。"一家中资券商的市场人 ...

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the report. 2. Core View of the Report The report focuses on the performance of the quantitative fund market, summarizing the performance of major indices and quantitative funds in the past week, the overall performance and distribution of different types of public - offering quantitative funds, and the top - performing quantitative funds in the week from August 4th to August 8th, 2025, for investors' reference. During this period, the A - share market rose, and quantitative funds showed good performance [1][2]. 3. Summary by Directory I. Performance of Major Indices and Quantitative Funds in the Past Week - A - shares continued to rise, with the weekly returns of the CSI 300, CSI 500, and CSI 1000 being 2.51%, 1.78%, and 1.23% respectively [3][6]. - Quantitative funds performed well. Active quantitative funds rose 1.88%, market - neutral funds rose 0.29%, and all types of index - enhanced funds recorded positive returns. In terms of excess returns, CSI 300 index - enhanced, CSI 500 index - enhanced, and other index - enhanced funds achieved positive excess returns of 0.20%, 0.04%, and 0.07% respectively, while CSI 1000 index - enhanced funds underperformed the index [4][9]. II. Performance of Different Types of Public - Offering Quantitative Funds - **CSI 300 Index - Enhanced Funds**: The weekly return was 1.44%, the excess return was 0.20%, the maximum drawdown was - 0.15%, and the excess maximum drawdown was - 0.13% [14]. - **CSI 500 Index - Enhanced Funds**: The weekly return was 1.81%, the excess return was 0.04%, the maximum drawdown was - 0.37%, and the excess maximum drawdown was - 0.29% [14]. - **CSI 1000 Index - Enhanced Funds**: The weekly return was 2.36%, the excess return was - 0.15%, the maximum drawdown was - 0.39%, and the excess maximum drawdown was - 0.47% [15]. - **Other Index - Enhanced Funds**: The weekly return was 1.49%, the excess return was 0.07%, the maximum drawdown was - 0.59%, and the excess maximum drawdown was - 0.26% [15]. - **Active Quantitative Funds**: The weekly return was 1.88%, the maximum drawdown was - 0.37%, and the return dispersion was 1.09% [16]. - **Market - Neutral Funds**: The weekly return was 0.29%, the maximum drawdown was - 0.11%, and the return dispersion was 0.45% [16]. III. Performance Distribution of Different Types of Public - Offering Quantitative Funds The report presents the performance trends of different types of public - offering quantitative funds in the past six months, as well as the performance distribution in the past week and the past year. Index - enhanced funds show the performance of excess returns [17]. IV. Top - Performing Public - Offering Quantitative Funds - **CSI 300 Index - Enhanced**: Funds such as Anxin Quantitative Selection CSI 300 Index Enhancement and Zhongou CSI 300 Quantitative Index Enhancement performed well in the past week [30]. - **CSI 500 Index - Enhanced**: Funds like Guotai CSI 500 Index Enhancement and Huian CSI 500 Enhancement had good performance [31]. - **CSI 1000 Index - Enhanced**: Funds including Guolianan CSI 1000 Index Enhancement and Penghua CSI 1000 Enhanced Strategy ETF showed good results [32]. - **Other Index - Enhanced**: Funds such as Great Wall GEM Index Enhancement and Fuguocheng GEM Enhanced Strategy ETF performed well [33]. - **Active Quantitative**: Funds like Changxin National Defense and Military Industry and Huian Quantitative Pioneer had high returns [34]. - **Market - Neutral**: Funds such as Zhongyou Absolute Return Strategy and Southern Absolute Return Strategy performed well [35].

- The report focuses on the performance of quantitative funds in the A-share market during the week of June 3 to June 6, 2025, highlighting that quantitative funds outperformed other fund categories during this period [1][2][8] - Among the major indices, the CSI 1000, CSI 500, and CSI 300 recorded weekly returns of 2.10%, 1.60%, and 0.88%, respectively, indicating a positive market trend [3][8] - Quantitative fund categories showed varied performance: active quantitative funds gained 1.60%, market-neutral funds rose by 0.17%, and index-enhanced funds linked to the CSI 1000 and other indices achieved excess returns of 0.22% and 0.21%, respectively, while CSI 500 index-enhanced funds recorded negative excess returns [4][11][14] - The performance of index-enhanced funds was analyzed based on excess returns and maximum drawdowns relative to their benchmark indices. For example, CSI 300 index-enhanced funds achieved a weekly excess return of 0.06% with a maximum drawdown of -0.03%, while CSI 1000 index-enhanced funds achieved a weekly excess return of 0.22% with a maximum drawdown of -0.04% [16][18][20] - Active quantitative funds demonstrated a weekly return of 1.60% with a maximum drawdown of -0.21%, while market-neutral funds achieved a weekly return of 0.17% with a maximum drawdown of -0.11% [24][25] - The report also highlights the top-performing funds within each quantitative category, such as the CSI 300, CSI 500, and CSI 1000 index-enhanced funds, as well as active and market-neutral funds. For instance, the Bosera CSI 500 Enhanced Strategy ETF achieved a weekly excess return of 0.80%, while the Bosera CSI 1000 Enhanced Strategy ETF achieved a weekly excess return of 0.79% [37][39][41][43][45]