Core Viewpoint - The article highlights the achievements and strengths of Xumian Investment, emphasizing its expertise in the black industry and its successful investment strategies, particularly in futures and derivatives [2][9]. Company Overview - Xumian Investment Management Co., Ltd. was established in 2015 by experienced professionals from the private equity sector and skilled traders, focusing on macroeconomic analysis and black futures trading [2]. - As of September 19, the average return of Xumian Investment's products in the 0-5 billion private equity category reached ***%, ranking first in the "small but beautiful" private futures and derivatives strategy group [2]. Development History - 2015: Xumian Investment was founded and registered with the China Securities Investment Fund Association [4]. - 2017: The company fully launched its asset management business [4]. - 2018: Participated in various competitions and won multiple awards [4]. - 2019: Expanded by hiring six fund managers [4]. - 2025: Signed a distribution agreement with Paipai Network, with product scale exceeding 100 million [4]. Team Composition - The company consists of 11 members, including 7 in research and investment, 1 in compliance and risk control, 2 in operations, and 1 in marketing [6]. Key Personnel - Hu Qing, Chairman and Fund Manager, has extensive experience in futures trading and has successfully navigated multiple market downturns [7]. - Hu Yuan, Fund Manager and General Manager, has ten years of experience in securities and fund management, with a strong background in private equity regulations [7]. Core Advantages - The company has achieved profitability for eight consecutive years, showcasing its rich investment experience [9]. - Deep understanding of stock indices and black commodity fundamentals, with a strong historical performance and large capacity [10]. - Multi-strategy ecosystem, offering a flexible product lineup for institutional investors [10]. - The team has an average investment experience of over ten years, ensuring high stability and mutual trust [11]. Product Line - The company offers various products, including: - Xumian Black Gold No. 1, focusing on macroeconomic and black industry fundamentals [13]. - Xumian Magpie No. 1, utilizing high-frequency arbitrage strategies [14]. - Xumian Jingjian, also based on macroeconomic and black industry fundamentals [15]. Performance Overview - The performance of Xumian Investment's funds has been consistently strong, with specific products achieving notable returns since their inception [16]. Awards and Recognition - Xumian Investment has received numerous awards in various competitions, including: - Third place in the 2017 Guohai Securities Private Equity Competition [17]. - First place in the 2018 Asset Management Network Futures Real Trading Competition [17]. - Multiple awards in subsequent years, highlighting its competitive edge in the private equity sector [18].

Core Insights - The article discusses the misconception that high returns equate to good investment products, highlighting that many products show net value growth while investors fail to achieve corresponding returns [1] - Behavioral finance research indicates that volatility significantly impacts investor psychology, leading to irrational decision-making such as "buying high and selling low" [1] - The article emphasizes the importance of considering both returns and performance volatility when evaluating investment products [1] Group 1: 1-3 Year Period Performance - The top-performing products in the 1-3 year category include Wopu Asset, Qianyuan Zishi, and Xingran Private Equity, with average returns of 53.62% and dynamic drawdowns below a certain percentage [2][3] - Wopu Asset's product "Wopu Jianling" has an operation duration of 861 days and a dynamic drawdown of less than 4% [3] - Notable products from large private equity firms include "Bolun Xiaoniu No. 7" and "Liangpai CTA No. 7 C Class," both demonstrating strong performance metrics [3][4] Group 2: 3-5 Year Period Performance - In the 3-5 year category, products like "Xumian Qique No. 1" and "Yujin Quantitative Exclusive No. 1" have shown low dynamic drawdowns while achieving impressive returns [6][7] - The article notes that many top products utilize quantitative CTA strategies, which are effective in controlling drawdowns due to their systematic design and risk management [7] Group 3: 5 Years and Above Performance - The 5-year and above category features products from He Yi Investment and Shanghai Liangyu, with "He Yi Shaping No. 2" achieving a dynamic drawdown of less than a certain percentage and high returns [10][11] - "Liangyu Guan Yi Wu Hao" stands out as the "return king" in this category, showcasing exceptional performance over its operational period [11]