Core Viewpoint - The article discusses the performance of private equity products in the A-share market over the past three years, highlighting the scarcity of products that have maintained impressive returns and drawdown performance amidst market volatility caused by geopolitical conflicts, the pandemic, and trade wars [2]. Summary by Categories Overall Performance of Private Equity Products - In 2023, the average return for 662 private equity products with over 10 billion in assets was 30.15%, with an average Sharpe ratio of 2.53. Over the past three years, 430 of these products achieved an average return of 79.96% and a Sharpe ratio of 1.12 [3]. Performance by Company Size - 100 billion and above: 662 products, 30.15% return, 2.53 Sharpe; 430 products, 79.96% return, 1.12 Sharpe - 50-100 billion: 372 products, 25.59% return, 2.15 Sharpe; 242 products, 53.73% return, 0.88 Sharpe - 20-50 billion: 630 products, 29.42% return, 2.29 Sharpe; 388 products, 75.14% return, 1.33 Sharpe - 10-20 billion: 573 products, 30.50% return, 2.25 Sharpe; 328 products, 74.08% return, 1.07 Sharpe - 5-10 billion: 745 products, 31.57% return, 1.91 Sharpe; 449 products, 82.89% return, 0.91 Sharpe - 0-5 billion: 2057 products, 28.59% return, 1.82 Sharpe; 1169 products, 72.52% return, 0.84 Sharpe - Total: 5039 products, 29.34% return, 2.06 Sharpe; 3006 products, 74.13% return, 0.98 Sharpe [3]. Top Performing Private Equity Products - The top three subjective long products over the past three years are from Junzhijian Investment, Kaishi Private Equity, and Dongfang Gangwan, with average returns of 99.85% and a Sharpe ratio of approximately 1.04 [4]. - The leading product is "Junzhijian Junyue" managed by Zhang Yong, with significant returns and a high Sharpe ratio [5][6]. - The top three quantitative long products are from Ming Shi Fund, Maoyuan Quantitative, and Abama Investment, with an average return of 85.34% and a Sharpe ratio of approximately 1.02 [7]. - The leading product is "Ming Shi Spring 28" managed by Yang Kun, achieving high returns and a notable Sharpe ratio [8][9]. - The top three market-neutral products are from Ping Fang He Investment, Mengxi Investment, and Ming Huan Investment, with an average return of 85.34% and a Sharpe ratio of approximately 1.02 [10]. - The leading product is "Ping Fang He Cai Ying Ping Heng 1" managed by Lü Jieyong and Fang Zhuangxi, with impressive returns and a high Sharpe ratio [12]. - The top three multi-asset strategy products are from Borun Yintai Investment, Ming Huan Investment, and Honghu Private Equity, with an average return of 64.79% and a Sharpe ratio of approximately 1.09 [13].