CTA趋势策略:7月份CTA趋势策略的投资胜率为74%左右,盈亏比约为2.8,高于历史平均水平;宏观环境因子 有2个呈现利好,商品市场因子有3个呈现利好;CTA趋势策略市场环境预计处于中性偏强状态,推荐配置。 CTA套利策略:7月份CTA套利策略的投资胜率为75%左右,盈亏比约为3.0. 高于历史平均水平;宏观环境因子 有3个呈现利好,商品市场因子有2个呈现利好:CTA套利策略市场环境预计处于中性偏强状态,推荐配置。 T T 信用负 策略环境监测报告(202507) 金融工程组 许怡然 从业资格号:F03114640 投资咨询号:Z0022421 投资咨询业务资格: 证监许可【2012】 669号 2025年7月16日 指数增强策略:Alpha显著性下的3个指标和Alpha稳定性下的2个指标走强,并且指标共振强度处于上行区间; 指增超额环境预计处于偏强状态,推荐配置。 风险提示:国际地缘政治冲突加剧;宏观经济波动加大。 | 策略类型 | 策略环境 | 利好因子占比 | | --- | --- | --- | | 指数增强 | 偏强 | | | CTA趋势 | 中性偏强 | 63% | | CTA套利 | 中性 ...

Group 1 - In June, a total of 1,100 private equity securities investment fund products were registered, marking a monthly record high for the year with a month-on-month increase of 26.44% [1] - In the first half of the year, the number of newly registered private equity securities investment funds reached 5,461, representing a year-on-year growth of 53.61% and a month-on-month increase of 100.48% [1][3] - Stock strategies emerged as the main force in private equity registrations for the first half of the year, with 3,458 new stock strategy private equity products accounting for 63.32% of the total registered products [3] Group 2 - Quantitative strategies dominated the market, with 2,448 registered quantitative strategy private equity products, of which 1,715 were stock quantitative strategies, making up 70.06% [3] - The most popular strategy was the index enhancement strategy, with 1,061 registered products, representing 61.87% of stock quantitative strategies, followed by the market-neutral stock strategy with 571 products, accounting for 33.29% [3] - The performance of securities private equity funds was strong in the first half of the year, with quantitative strategies leading, particularly the index enhancement strategy, which had the highest returns [3] Group 3 - Looking ahead to the second half of the year, private equity institutions maintain an optimistic outlook, focusing on technology, consumer sectors, innovative pharmaceuticals, and dividend assets [4] - In June, 751 private equity securities managers participated in A-share listed company research, covering 387 stocks across 28 primary industries, with a total of 1,769 research instances [4] - A total of 46 stocks received significant attention from private equity institutions, each with research frequency of at least 10 times [4]

上半年新备案产品5461只 私募排排网最新统计数据显示，6月共有1100只私募证券投资基金产品完成备案，创下年内月度数据的次 新高，环比增长26.44%。拉长时间来看，今年上半年新备案私募证券投资基金数量高达5461只，同比增 长53.61%，环比增幅高达100.48%。 近期，理财收益率持续下调叠加资本市场有所回暖，推动私募证券投资产品的销售逐步升温。 具体来看，股票量化策略产品持续成为市场主流方向之一。数据显示，上半年备案的量化策略私募产品达 2448只，而股票量化策略则占据绝对主导地位，备案产品为1715只，占比70.06%。其中，指数增强策 略最受市场青睐，备案产品1061只，占股票量化策略产品数量的61.87%；股票市场中性策略则以571只 备案产品数量紧随其后，占比为33.29%。 私募量化指增策略领跑市场 今年上半年，存款利率下行也成为了推动私募产品发行规模增长的重要因素。 "1年期定期存款利率普遍降至1%以下，而私募理财产品的收益相对更高，二者之间形成了明显的利 差。"北京地区某私募销售人员对证券时报记者称。 私募产品发行火爆的背后，往往是超额的历史业绩表现。从产品收益率上看，今年上半年证券类 ...

Group 1 - The core viewpoint is that the sales of private securities investment products are gradually increasing due to the continuous decline in financial product yields and a recovery in the capital market [1] Group 2 - In the first half of the year, a total of 5,461 new private securities investment products were registered, representing a year-on-year increase of 53.61% and a month-on-month increase of 100.48% [2] - In June alone, 1,100 private securities investment fund products were registered, marking a monthly increase of 26.44% and the second-highest monthly figure of the year [2] - Stock strategies remain the dominant force in private fund registrations, with 3,458 new stock strategy private products accounting for 63.32% of the total [2] - Quantitative stock strategies are particularly popular, with 1,715 registered products, making up 70.06% of the quantitative strategy private products [2] Group 3 - The decline in deposit rates, with one-year fixed deposit rates falling below 1%, has contributed to the growth in private product issuance as they offer relatively higher returns [3] - The top three performing strategies in the first half of the year were the Tangpu 1000 Index Enhanced Private Index (+15.87%), Tangpu Subjective Growth Private Index (+12.80%), and Tangpu 500 Index Enhanced Private Index (+10.66%) [3] - Among the 33 private institutions with at least 20 registered products, 27 are quantitative private institutions, with 18 being large-scale institutions managing over 10 billion [3] - As of June, 2,010 private products reached historical net asset value highs, representing approximately 45.68% of those with nearly one year of performance data [3] Group 4 - Private institutions are generally optimistic about the second half of the year, focusing on sectors such as technology, consumption, innovative pharmaceuticals, and dividend assets [4] - The liquidity environment is expected to remain relatively loose, reducing the probability of systemic risks [4] - A total of 751 private securities managers participated in A-share listed company research, covering 387 stocks across 28 industries, with a total of 1,769 research instances [4] - The strategy for future market positioning includes a focus on high-quality companies that are undervalued, particularly in the internet, electronics, and automotive sectors [4]

以下文章来源于范范爱养基 ，作者范范 范范爱养基 . 他这么一说 ， 我才反应过来~好像还真是这样的 ！ 专注基金投资分享，说人话，不拽词！不保证说的都对，但都是当下我最最真实的想法。（雪球号同名） 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者： 范范爱养基 来源：雪球 最近不是在看 " 指数增强 " 基金嘛，招商中证2000增强策略ETF现任基金经理 邓童 的一段讲话 。 邓童说 ： 红利指数的增强比宽基指数更难 。 在测试时发现 ， 中证2000指数的超额收益可以高达30%以 上 ， 但是红利指数的超额收益能有大几个点就很不错了 。 红利指数基金火了这么多年了 ， 确实没有看到 " 红利增强策略基金 " 脱颖而出 ， 更没有火出圈的 ！ 邓童给到的解释是 ： " 红利 " 本身就是一个历史表现很好的 " 因子 " ， 这时再去叠加常用的 " ROE或者 低PB " 等因子 ， 基本不起作用 。 （ 除非 ， 找到独特的因子 ） 想想也是~ " 红利低波 " 指数 ， 自带估值筛选规则 ； " 红利质量 " 指数 ， 又自带盈利能力的筛选 ； 这些红利指数本身就 ...

日前，全球最大的上市对冲基金集团——英仕曼集团宣布，其全资子公司英仕曼（上海）投资管理有限公司于中国市场推出首只自主管理的股票指数增强 策略产品——英仕曼美量中证500指数增强策略。该产品已于中国证券投资基金业协会（简称协会）备案，面向合格投资者发行。 自2017年在境内登记为证券私募管理人以来，英仕曼集团发展节奏历经波动。英仕曼集团于6月12日发布的新闻稿中表示，该产品的发行标志着集团在中 国投资市场的重要战略布局进入新阶段。 于中国市场推出自主管理指增产品 英仕曼进一步表示，该产品将集团旗下Numeric团队的全球长期实盘经验的系统化量化投资方法用于中国A股市场投资。据了解，Numeric团队拥有超过30 年的量化投资经验。截至2025年3月31日，其管理的全球股票策略资产规模超过400亿美元。 英仕曼Numeric高级投资经理方子昂表示，随着中国经济的稳健增长，作为全球第二大股票市场，A股市场不仅拥有显著的配置潜力，而且为量化策略提 供了丰富的Alpha来源。 英仕曼Numeric投资经理、英仕曼美量中证500指数增强策略首席基金经理杨海翔表示，投资策略在量化模型基础上，整合了包括公司基本面、行业另类数 ...

每经记者｜杨建 每经编辑｜彭水萍 ｜2025年6月13日 星期五｜ NO.1 蚂蚁国际将在中国香港申请稳定币牌照，相关通道开启后将提交申请 6月12日，对于蚂蚁国际将在中国香港特别行政区申请稳定币牌照的消息，蚂蚁国际回应媒体时表 示："蚂蚁国际正在全球财资管理方面加速投资、拓展合作，将我们的AI、区块链和稳定币创新投入真 实可靠的大规模应用。《稳定币条例草案》将于8月1日生效，相关通道开启后尽快提交申请。"受此利 好影响，蚂蚁金服概念港股急升，其中云锋金融盘中一度飙升98%。 NO.2 央行、外汇局：允许银行为台胞在闽合法商品房交易款项办理跨境人民币收付业务 6月12日，央行、国家外汇局联合印发《关于金融支持福建探索海峡两岸融合发展新路 建设两岸融合发 展示范区的若干措施》。措施提出，允许福建省内银行为台胞在闽合法合规商品房交易相关款项办理跨 境人民币收付业务。福建省内银行可在"展业三原则"基础上，为台胞办理商品房交易相关的跨境人民币 收付款及境内支付业务。 NO.3 发改委：支持深圳率先开展本外币合一跨境资金池业务试点，业务额达3400亿美元 国家发展改革委副主任李春临6月12日在国新办新闻发布会上表示，深 ...

全球投资管理公司英仕曼集团今日宣布，其中国的全资子公司英仕曼（上海）投资管理，正式推出在中 国市场的首个自主管理的股票指数增强策略产品——英仕曼美量中证 500 指数增强策略。该产品已在中 基协完成备案。英仕曼 Numeric 高级投资经理方子昂表示，随着中国经济的稳健增长，A 股市场作为全 球第二大股票市场，不仅具有显著的配置价值潜力，其独特的市场结构和投资者行为特征也可以为量化 策略提供了丰富的 alpha 来源。（记者 闫军） ...

以下文章来源于世纪前沿资产 ，作者世纪前沿 世纪前沿资产 . 专注于探索量化投资前沿 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 为服务高质量发展，中证指数公司于2024年9月23日，发布了A系列的新一代股票指数-中证A500指数。作为"新国九条"发布后的首支核心宽基 指数，中证A500指数 更全面 ，兼顾A股龙头与中证三级行业龙头，集合优质核心资产； 更均衡， 兼顾价值与成长，相对全市场而言"行业中 性"，超额收益的挖掘潜力更高； 更新质 ，反映"新质生产力"产业方向的权重占比更高，更能反映资本市场结构变化和产业转型升级。 自发布以来，中证A500指数备受市场关注，规模发展超预期，且配置资金多以增量资金为主。世纪前沿作为第一批推出中证A500指增策略的私 募管理人之一，希望从丰富策略产品线、为客户提供更多资产配置选项的角度出发，帮助投资者更好布局A股核心资产。本期前沿资讯也将从资 产多元化配置的角度出发，谈谈中证A500指数相关产品的长期投资价值。 | 排序 | 产品简称 | 三级策略 | 套金经理 | 产品规模 (万元) | 近1年收益 | 近1年超额 | | --- | --- | ...

Group 1 - The Ministry of Industry and Information Technology emphasizes accelerating the research and application development of 5G-A and 6G technologies to empower the construction of a modern industrial system [1] - The focus is on meeting the needs of enterprise development, fostering new productive forces, and promoting the industrial internet to support the high-end, intelligent, and green development of manufacturing [1] - There is an emphasis on international cooperation, deepening exchanges in technology, standards, industry, and policy, and actively participating in global digital governance [1] Group 2 - The People's Bank of China is committed to supporting the high-quality economic and financial development of Beijing, aiming to create a favorable monetary and financial environment [2] - The central bank will continue to promote the construction of a strong central bank and national financial management center, enhancing Beijing's international influence in finance [2] Group 3 - The output value of China's satellite navigation and positioning services industry reached 575.8 billion yuan in 2024, with a year-on-year growth of 7.39% [3] - The number of satellite navigation patent applications in China exceeded 129,000 by the end of 2024, maintaining a global leading position with a growth of 4.8% [3] Group 4 - The International Thermonuclear Experimental Reactor (ITER) has completed the construction of its superconducting magnet system, marking a significant milestone in the pursuit of controlled nuclear fusion energy [4] - The magnet system's central solenoid is 18 meters tall and has a magnetic field strength of 13 Tesla, capable of lifting an aircraft carrier [4] Group 5 - The Ministry of Transport is advancing the electric heavy truck separation model and new energy heavy truck transportation pilot demonstrations [5] - As of now, 6,527 charging parking spaces and 35,000 charging piles have been established nationwide, covering 98% of highway service areas [5] Group 6 - The first batch of floating rate funds has been officially submitted, indicating the practical implementation of fee reforms [6][7] - The growth rate of social financing has accelerated, and the issuance of special government bonds has begun, providing support for social financing [7] Group 7 - The BeiDou system has entered the standard systems of 11 international organizations, expanding its international presence [8] Group 8 - The average return of index-enhanced private equity products reached 6.42% as of the end of April, with an average excess return exceeding 9% [9] Group 9 - Key investment directions in mergers and acquisitions include strengthening leading technology companies, industry consolidation in traditional sectors, and increased willingness for state-owned enterprises to engage in mergers and acquisitions [10] Group 10 - The C919 aircraft has launched a new regular commercial route between Shanghai Hongqiao and Shenzhen, marking its official operation in this route [11]