Group 1 - The number of private securities investment funds registered in July reached 1,203, setting a new monthly record for the year, indicating a recovery in the private placement market as investor enthusiasm rises [1] - Quantitative products remain the main force in the registration of new private funds, with notable firms like Nine Kun Investment and Ming Cong Investment launching new products [1] - The overall private fund issuance market shows a warming trend, with the number of registered funds in previous months being lower, such as 1,075 in June and 1,138 in April [1] Group 2 - Guangdong Hongxi Fund Management announced the suspension of fundraising for some of its traditional quantitative CTA products starting August 1, 2025, to focus on existing investors and enhance service quality [2] - The firm has managed assets between 5 billion and 10 billion yuan, emphasizing a cautious management principle regarding strategy capacity limits [2] - Other quantitative private funds have also announced similar suspensions, indicating a trend of selective fundraising in the market [3] Group 3 - The private fund issuance market is experiencing uneven performance, with quantitative funds attracting more capital compared to subjective funds, which struggle to achieve significant fundraising [3] - Some leading subjective private funds have also paused new client subscriptions, reflecting a cautious approach to managing growth and performance [3] - The macro environment is perceived as favorable for quantitative funds this year, leading to rapid sellouts of popular products, while many private institutions still face fundraising challenges [3]

Core Insights - Guangdong Hongxi Fund Management Co., Ltd. announced the suspension of fundraising for certain traditional quantitative CTA product lines starting August 1, due to increasing global macroeconomic volatility and the strategic value of CTA strategies in asset allocation [1] - The company aims to ensure a long-term holding experience for investors and will continue to operate existing products normally, allowing current investors to redeem their shares without impact [1] - The fund management company has maintained a focus on quantitative CTA strategies and absolute returns over its 10-year history, emphasizing prudent management of strategy capacity limits [1] Company Strategy - The company will keep the cross-sectional quantitative CTA strategy products, options strategy products, and commodity index enhancement strategy products available for normal subscription and redemption [1] - Future adjustments to product fundraising and issuance plans will be based on strategy optimization, market conditions, and investor demand [1] - The current management scale of Hongxi Fund is reported to be between 5 billion to 10 billion [1]