| 公司规模 | 符合排名规则的 | 2025年 | 2025年 | 2025年 | | --- | --- | --- | --- | --- | | | 量化产品数 | 收益均值 | 超额均值 | 超额胜率均值 | | 100亿以上 | 386 | 38.60% | 13.90% | 61.01% | | 50-100亿 | 185 | 27.62% | 8.67% | 55.70% | | 20-50亿 | 177 | 28.79% | 11.39% | 56.23% | | 10-20亿 | 177 | 32.00% | 12.36% | 54.26% | | 5-10亿 | 149 | 23.96% | 5.27% | 52.55% | | 0-5亿 | 336 | 28.33% | 11.92% | 53.52% | | 总计 | 1410 | 31.13% | 11.33% | 56.20% | 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 近年来，量化指增产品以其纪律性、广度与效率优势，成为市场震荡中投资者获取超额收益的重要选择。尤其是百亿级私募，凭借更成熟的策略 体系与技术 ...

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 Insights - Deepseek has emerged in the AI sector, revitalizing quantitative investment, particularly in a market favoring small and mid-cap stocks [1] - Despite a general adjustment in the A-share market in November, many quantitative products from large private equity firms achieved historical highs, with over 80% being quantitative products [1] - The average return for 1,833 quantitative products this year is 26.98%, with an excess return of 11.41% [2] Quantitative Investment Performance - The top-performing quantitative long strategy products (833 in total) achieved returns of 40.34% and excess returns of 17.25% [2] - Other quantitative strategies include: - Quantitative CTA: 379 products with average returns of 16.32% and excess returns of 13.76% [2] - Stock market neutral: 200 products with average returns of 9.37% and excess returns of -4.93% [2] - Composite strategy: 154 products with average returns of 23.85% and excess returns of 7.61% [2] - Options strategy: 56 products with average returns of 11.04% and excess returns of 8.60% [2] Top Quantitative Stock Selection Products - As of November 2025, there are 331 quantitative stock selection products with an average return of 39.40% and an average excess return of 19.14% [3] - The top three products in excess returns are from Zhuhai Zhengfeng Private Equity, Shui Zhuo Quan Asset, and Jiuming Investment [3] Performance of Specific Strategies - The "CSI 500 Index Enhanced" products have 197 products with average returns of 40.17% and excess returns of 14.14% [8] - The top three products in this category are from Zhaoxin Private Fund, Guobiao Asset, and Zhaoyue Private Fund [8] - The "CSI 1000 Index Enhanced" products have 167 products with average returns of 44.68% and excess returns of 17.53% [14] - The top three products in this category are from Jintong Investment, Luxiu Investment, and Mengxi Investment [14] Notable Fund Managers and Products - The "Hanhong Ansheng Progress No. 1 B Class" product managed by Hanhong Investment has outstanding performance with excess returns of ***% [6] - The "Longqi Technology Innovation Selected No. 1 C Class" product managed by Zhu Xiaokang has also shown impressive returns [7] - The "Zhaoxin CSI 500 Index Enhanced No. 1 A Class" managed by Tang Yue and Hu Chenhang has the highest excess returns in its category [12]

私募排排网最新数据显示，截至2025年11月21日，蒙玺投资旗下今年以来有业绩展示且符合排名规则的产品共有10只，均由李骧管理，今年 来平均收益为***%。其中，有8只为量化多头产品，它们今年来的平均超额收益为***%。（ 点击查看收益 ） [应监管要求，私募产品不能公开展示业绩，文中涉及收益数据用***替代，合格投资者可扫码查看收益数据。] 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 今年以来，在市场流动性改善以及友好的策略环境下，多家量化私募凭借着其投研、风控、策略优势，进入百亿私募阵营。蒙玺投资就是其中一 家新晋的百亿量化私募。 蒙玺投资成立于2016年，是国内量化行业先行者之一。 依托强大的数据挖掘、统计分析和软件开发能力， 公司构建了覆盖多市场、多品种、 全频段的量化资产管理平台 。公司自主研发的低延迟交易策略和系统，经长期实践检验，形成一定技术壁垒，业绩表现获得了市场广泛认可。 蒙玺投资的投研团队有60余人，具备世界顶级高校的物理、数学、金融等多元学科背景。另外，公司在数据方面资源储备充足，除常用的量 价、基本面数据外，每年额外有千万级别另类数据购买成本，构建来自全球200+的 ...

Core Viewpoint - The A-share market showed strong performance in August, with major indices rising significantly, yet the excess returns of stock strategy private equity products were disappointing, marking the worst monthly performance of the year [1][2]. Group 1: Market Performance - In August, the Shanghai Composite Index rose by 7.97%, the Shenzhen Component Index increased by 15.32%, and the ChiNext Index surged over 24% [1]. - Despite the strong market, the average excess return of 3,122 stock strategy private equity products was -1.97%, the worst monthly performance this year [1]. Group 2: Quantitative vs. Subjective Strategies - Quantitative private equity products experienced a notable decline, with an average excess return of -3.94% in August, while subjective private equity products had an average excess return of -1.00% [1]. - The significant decline in quantitative products is attributed to a reversal in style, particularly the outperformance of large-cap stocks over small-cap stocks, and severe sector differentiation due to rapid growth in financing scale [1][2]. Group 3: Consistent Performers - As of August 2025, only 95 stock strategy private equity products achieved positive excess returns for eight consecutive months, representing about 3% of the total [2]. - Among private equity firms with over 10 billion in assets, 46 products achieved positive excess returns for eight consecutive months, all of which were quantitative products, with an average excess return of 0.63% in August and 17.91% year-to-date [3]. Group 4: Top Performers by Asset Size - In the 20-100 billion category, 14 products achieved positive excess returns for eight consecutive months, with an average excess return of 1.83% in August and 22.48% year-to-date [7]. - The top three products in this category were "New Thinking Multi-Strategy 3", "Pansong Micro-Cap Index Enhanced 1", and "Giraffe 7", with year-to-date excess returns of ***% [11]. Group 5: Small and Emerging Firms - In the 5-20 billion category, 13 products achieved positive excess returns for eight consecutive months, with an average excess return of 5.34% in August and 57.58% year-to-date [13]. - The leading product in the 0-5 billion category was "Zijin Yunsong", achieving a year-to-date excess return of ***% [18].

Core Viewpoint - The article highlights the strong performance of quantitative long products from billion-level private equity firms in the A-share market since August, with average returns significantly increasing for various strategies [1]. Summary by Category Quantitative Stock Selection Products - As of August 22, 2025, there are 234 quantitative long products under billion-level private equity firms, with an average return of ***% this year [1]. - The top-performing products in the quantitative stock selection category have shown an average return close to ***% [1]. Top 10 Products in the "CSI 1000 Index Enhancement" Category - The article lists the top 10 products in the "CSI 1000 Index Enhancement" category, with the leading product being "Mengxi CSI 1000 Quantitative No. 5 A-Class" managed by Li Ji from Mengxi Investment [4]. - Other notable products include "Qianyan Liuhe No. 6 1000 Enhancement B-Class" and "Mingfa Quantitative Small Cap Enhancement No. 1 B-Class" [4]. Top 10 Products in the "CSI 300 Index Enhancement" Category - The leading product in the "CSI 300 Index Enhancement" category is "Jiu Zhang Huan Fang CSI 300 Quantitative Multi-Strategy No. 1," managed by Xu Jin from Ningbo Huan Fang Quantitative [7]. - Other top products include "Mingxuan Stable Growth No. 2" and "Zhengding CSI 300 Index Enhancement No. 1 B-Class" [7]. Top 10 Products in the "CSI 500 Index Enhancement" Category - The article provides a list of the top products in the "CSI 500 Index Enhancement" category, highlighting the competitive performance of various funds [10]. Top 10 Products in the "Other Index Enhancement" Category - The article also details the top products in the "Other Index Enhancement" category, showcasing the diversity of strategies employed by different private equity firms [14]. Notable Firms and Strategies - Mengxi Investment has established a strong reputation with its quantitative strategies, leveraging a team with significant academic backgrounds in quantitative finance [16]. - Ningbo Huan Fang Quantitative has also gained recognition for its high returns, particularly in the CSI 300 Index Enhancement category [19].