Core Insights - The article emphasizes the importance of long-term performance over short-term rankings in investment, particularly focusing on the last three years as a critical evaluation period for fund managers [3] - It provides a detailed analysis of the performance of private equity fund managers across different asset sizes, highlighting their average returns and years of experience [4][6][8] Group 1: Performance of Billion-Level Fund Managers - Among the billion-level fund managers, Dan Bin from Dongfang Hongwan leads with an impressive average return of ***% over the past three years, followed by Guo Xuewen from Maoyuan Quantitative and Lu Hang from Fusheng Asset [4][6] - The average return for billion-level fund managers in the last three years is 72.07%, with an average experience of 18.5 years [4][6] Group 2: Performance of 50-100 Million Fund Managers - In the 50-100 million category, Huang Bo from Dayan Capital ranks first with an average return of ***%, followed by He Ruilin from Bopu Technology and Shi En from Yunqi Quantitative [9][11] - The average return for this group over the past three years is 62.24%, with an average experience of approximately 17.4 years [9][11] Group 3: Performance of 20-50 Million Fund Managers - He Yuqing from Yidian Najin ranks first in the 20-50 million category with an average return of ***%, followed by Huang Litu from Qiantou Investment and Lou Jianping from Xiangmu Asset [14][16] - The average return for this group is 69.30%, with an average experience of about 20.7 years [14][16] Group 4: Performance of 10-20 Million Fund Managers - Wei Xiaokang from Shanghai Lingjiu leads the 10-20 million category with an average return of ***%, followed by Liu Xianglong from Fuyuan Capital and Zeng Weijiang from Beijing Zhenke Private Equity [19][21] - The average return for this group is 89.91%, with an average experience of approximately 18.2 years [19][21] Group 5: Performance of 5-10 Million Fund Managers - Wu Tianzeng from Zhongying Investment ranks first in the 5-10 million category with an average return of ***%, followed by Du Yanjie from Shanghai Yixin Private Equity and Han Yongfeng from Jiu (Hainan) Private Equity [22][24] - The average return for this group is 72.48%, with an average experience of about 21.7 years [22][24] Group 6: Performance of 0-5 Million Fund Managers - Yao Yong from Qinxin Fund tops the 0-5 million category with an average return of ***%, followed by Yang Zhongguang from Longhui Xiang Investment and Chu Fan from Mojia Asset [25][27] - The average return for this group is 69.31%, with an average experience of approximately 20.9 years [25][27]

Core Viewpoint - In 2025, the Chinese market showed significant growth, with major stock markets rising sharply and structural opportunities in various sectors, particularly in technology growth stocks, which drove the ChiNext Index up nearly 50% [2] Market Performance Summary - The performance of major indices in 2025 included: - Shanghai Composite Index: 18.41% increase in January, with a total of 8.74% in September [3] - ChiNext Index: 49.57% increase in January, but a notable drop of over 7% in April due to external shocks [3] - Shenzhen Component Index: 29.87% increase in January, with fluctuations throughout the year [3] - Hang Seng Index: 27.77% increase in January, with varying monthly performance [3] Private Fund Performance Summary - In the private fund market, 2025 saw a total of 5,139 products with data showing an average cumulative return of 31.83%, with only 229 products (4.46%) achieving positive returns for 12 consecutive months [4] - Among the top-performing private funds, 1,006 products had performance data, with 88 (8.75%) achieving positive returns for 12 consecutive months [4] - The top 20 products in the private fund sector had a threshold for cumulative returns, with a majority being quantitative long products [4] Notable Products and Managers - The "Square and Peak Zhongzheng 2000 Index Enhanced 21" managed by Square and Investment achieved significant returns, with the highest monthly return in August [7] - The "Yizu Qinggui Li Dong" managed by Yizu Investment topped the list among private funds under 5 billion, with substantial returns in March and December [10] - The "Hua Nian Progress 2A" managed by Xue Yuxin ranked fifth, showcasing strong performance [11] Excess Return Analysis - In 2025, 802 quantitative long products had data on excess returns, with only 30 (3.74%) achieving positive excess returns for 12 consecutive months [13] - The top 10 products in terms of cumulative excess returns were managed by firms such as Jintong Investment and Ming Stone Fund [14][16]

Core Viewpoint - The article highlights the performance and investment strategies of Hangzhou Oak Asset Management Co., Ltd., emphasizing its strong returns and focus on quantitative stock investment strategies [3][6]. Company Overview - Hangzhou Oak Asset Management was established in March 2018 and is registered with the Asset Management Association of China [3]. - As of the end of July, Oak Asset's products achieved an average return of ***%, ranking second among quantitative private equity funds with a scale of 20-50 billion in the first seven months [3]. - The "Oak Wangjiang No. 2" fund ranked first in excess returns among the CSI 1000 index in the same period, while "Oak Yongfu" ranked second in the CSI 500 index [3]. Investment Philosophy & Strategies - The company focuses on high-frequency quantitative investment, utilizing a dual-driven approach of "mathematical insight × engineering implementation" to build price-volume models that identify short-term price fluctuations and mispricing opportunities [11]. - The investment strategy is based on in-depth analysis of historical price-volume data to uncover factors with financial logic or explainability [11]. Core Team - The core team consists of 13 members, with a research team of 8 professionals, including PhDs from top universities and experienced IT experts, averaging 8.5 years of industry experience [8][19]. - The team has maintained a "zero core loss" stability, ensuring continuity and consistency in investment strategies [19]. Competitive Advantages - Oak Asset has a long-term focus on high-frequency price-volume stock selection, with an annualized turnover of approximately 120 times, demonstrating strong adaptability and long-term return potential [17]. - The quantitative models emphasize logical factors and explainability, showing excellent historical predictive capabilities [18]. Future Outlook - The company plans to continue refining its high-frequency price-volume strategies while maintaining the core framework, focusing on model detail enhancement and trading execution optimization to improve investment efficiency [21].