Company Overview - Zhicheng Zhuoyuan was established on June 19, 2017, and focuses on quantitative investment, with a current active management scale exceeding 16 billion yuan [4] - The company aims to create a top-tier domestic private equity fund management company that benchmarks against overseas quantitative hedge funds [4][5] - The company has a clear and stable equity structure, with the actual controller holding over 80% of the shares, ensuring efficient decision-making [6] Development History - The company was founded in 2014, with its first quantitative hedge strategy achieving real performance in 2014 [4] - By 2022, the management scale exceeded 10 billion yuan, and as of now, it has surpassed 16 billion yuan [4] Core Investment Philosophy - The investment philosophy is based on statistical arbitrage, assuming that future market behavior will resemble past patterns, allowing for the estimation of future price expectations [5] - The strategy involves ranking stocks based on expected returns and adjusting positions to maintain a portfolio with a higher expected return than the market index [5] Core Team and Advantages - The core team, led by investment director Shi Fan, consists of members with strong backgrounds in finance and quantitative analysis, primarily graduates from Peking University [7] - The investment team has over 10 years of localized quantitative management experience, with a low correlation between their models and market trends, allowing for stable alpha generation [15][37] Investment Strategy and Product Line - The company offers two main types of quantitative products: market-neutral and quantitative long strategies [4] - The investment strategy is characterized by a focus on short-cycle, low-frequency trading, aiming for stable returns while managing risk effectively [41] Risk Control - The company has established a comprehensive risk management system that includes pre-trade, intra-trade, and post-trade risk controls [31][32][33] - The risk management framework is integrated into the investment strategy, allowing for dynamic adjustments based on market conditions [32][33] Core Advantages - The company emphasizes a cautious approach to scaling, prioritizing returns and volatility over aggressive growth [41] - The unique investment research system integrates traditional fund management processes with modern factor-based research, enhancing efficiency and innovation [42] Awards and Recognition - Zhicheng Zhuoyuan has received multiple awards, including the 2023 China Private Equity Golden Bull Award for "Best Quantitative Multi-Strategy Private Fund Manager" [44][45]