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，A股继续迎来强劲的上涨，其中沪指创下近十年新高；创业板指年内最新涨幅达到约45%，领衔A股三大主要股指。板块方面，近 日，以算力为核心的新科技板块，俨然成为撬动指数上涨的主引擎。在此基础上，不少近5年才成立的新锐私募崭露头角，成为私募市场上一股 重要的力量。 （注：本文业绩数据截至2025年9月12日，近5年成立的新锐私募即2020年9月12日后成立的私募） 0 1 私募公司：北京禧悦夺冠！量化私募巨量均衡进入 从私募公司的角度看，近5年成立的新锐私募共有1056家，其中今年来至少有3只产品符合排名规则的私募共有60家，收益20强的公司的上榜"门 槛"为 *** %。（ 点此查看收益 ） [应监管要求，私募基金不能公开展示业绩，文中涉及收益数据用***替代，合格投资者可扫描图中二维码或点击文末阅读原文，查看收益数据。] 在这20家私募中，主观私募共有12家，量化私募、混合型（"主观+量化"）私募各有4家。从公司规模来看，这20家私募的管理规模均不足50 亿。 10 强 | 排名 | 公司简称 | 实控人 | | 公司规模 投资模式 核心 ...

近 5年，我国资本市场面临复杂的内外部环境，因此波动较大。在这样的市场背景下，能做到在今年来（短期）、近三年（中期）、近五年（长 期）的收益都排名居前，就显得难能可贵。 为了给读者提供一些参考，笔者根据私募排排网数据，分策略（主观多头、量化多头、多资产、期货及衍生品）梳理出了在"今年1-8月、近三 年、近五年"收益都居上游的私募产品。 （ 同一基金经理管理多只相同策略产品的，仅选收益最高的产品参与排名 ） 0 1 主观多头： 23 只私募产品短、中、长期均居前列，陈宇旗下产品在列！ 截至2025年8月底，在私募排排网有今年1-8月、近三年、近五年业绩显示的主观多头私募产品分别有1974只、1353只、760只，有鉴于此， 笔 者特梳理出了在今年 1-8月、近三年、近五年收益均居前20%的产品，共有23只 。 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 私募业绩在某一阶段内领先，并非难事，但要想在多个阶段内都领先，则是非常考验基金经理的投研水平和策略的持续迭代能力的。因为资本市 场的变化非常快，以A股为例，无论是市场风格还是领涨赛道，都是阶段性的轮动。 | 菲席 | 产品简称 | 产品规模 ...

近两周，权益市场回归震荡格局，部分量化和主观多头策略产品面临回撤压力，宏观策略却走出整体上涨的趋势。 私募排排网数据显示，截至2025年8月底，今年来有业绩展示的宏观策略产品共有187只，今年来、8月平均收益分别为18.68%、5.58%，均位列16个私募 二级策略中的第4位。从单月正收益占比变动来看，8月实现正收益的宏观策略产品占比88.12%，相比7月的67.42%大幅回升。 | 二级策略 | 有今年以来业绩展示的产品数 | 今年来平均收益 | 8月平均收益 | | --- | --- | --- | --- | | 曹保亲杀 | 777 | 35.67% | 8.95% | | 主观多头 | 1974 | 30.08% | 9.19% | | 复合策略 | 397 | 20.80% | 5.98% | | 宏观策略 | 187 | 18.68% | 5.58% | | 转债交易策略 | 120 | 17.16% | 3.61% | | FOF | 146 | 14.20% | 3.94% | | 其他衍生品策略 | 14 | 14.16% | 3.38% | | 股票多空 | 79 | 13.79% | ...

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 近两周，权益市场回归震荡格局，部分量化和主观多头策略产品面临回撤压力，宏观策略却走出整体上涨的趋势。 私募排排网数据显示，截至2025年8月底， 今年来有业绩展示的宏观策略产品共有 187只，今年来、8月平均收益分别为18.68%、5.58%，均位 列16个私募二级策略中的第4位。 从单月正收益占比变动来看， 8月实现正收益的宏观策略产品占比88.12%，相比7月的67.42%大幅回升。 | 二级策略 | 有今年以来业绩展示的产品数 | 今年来平均收益 | 8月平均收益 | | --- | --- | --- | --- | | 曹샌웅杀 | 777 | 35.67% | 8.95% | | 主观多头 | 1974 | 30.08% | 9.19% | | 复合策略 | 397 | 20.80% | 5.98% | | 宏观策略 | 187 | 18.68% | 5.58% | | 转债交易策略 | 120 | 17.16% | 3.61% | | FOF | 146 | 14.20% | 3.94% | | 其他衍生品策略 | 14 | 14. ...

Core Viewpoint - The A-share market showed a strong upward trend in June, with the Shanghai Composite Index rising by 2.90%, the Shenzhen Component Index by 4.23%, and the ChiNext Index by 8.02% [2] Private Fund Performance - In June, 2010 private fund products reached historical net value highs, accounting for approximately 45.68% of the private funds with performance data available for nearly one year [2] - Among these, quantitative products numbered 965, while non-quantitative products totaled 1045 [2] - The majority of products employed stock strategies, with 1153 products, followed by multi-asset strategies (272), bond strategies (257), futures and derivatives strategies (256), and combination fund products (72) [2] Company Scale Analysis - The largest number of products came from private funds with a scale below 500 million, totaling 790 products, which is nearly 40% of the total [3] - There were 283 products from private funds with a scale of 10 billion or more [3] Top Performing Products - The top-performing products in the quantitative long stock strategy category included 522 products, with the highest return threshold exceeding ***% [3] - The leading product was "Zeyuan Zhicheng Beta Quantitative No. 1 A Class" managed by Zhou Lihua from Shenzhen Zeyuan, with a recent scale of approximately *** billion and a one-year return close to ***% [5][10] - In the subjective long stock strategy category, the top product was "Xiyue San Shi A Class" managed by Wu Lei from Beijing Xiyue, with a recent scale of approximately 25.73 million and a one-year return close to ***% [10] Multi-Asset Strategy - The top product in the multi-asset strategy category was "Luyuan Ruize Stable Growth" managed by Lu Wentao, with a recent scale of approximately *** billion and a one-year return of about ***% [13] Futures and Derivatives Strategy - In the futures and derivatives strategy category, "Junfu Zhongzheng 500 Index Enhanced No. 1" managed by Wang Jiazhen and Dai Hangxiao from Junfu Investment had a recent scale of approximately *** million and a one-year return of about ***% [17] Bond Strategy - The leading product in the bond strategy category was "Hansheng New Millennium No. 1" managed by Yang Shangmeng from Shanghai Hanhong, focusing on convertible bond trading [19] Billion-Level Private Fund Insights - In June, 283 products from billion-level private funds reached historical highs, with quantitative products making up 87.6% of this total [21] - Notably, 13 billion-level private funds had 10 or more products reaching new highs, with 聚宽投资 leading with 41 products [22]

Core Viewpoint - Macro strategy, based on macroeconomic analysis for asset allocation, has shown better investment performance during economic cycles, gaining increasing attention in recent years [2] Group 1: Macro Strategy Performance - In mature overseas markets, macro strategy is recognized as a core strategy for hedge funds, particularly excelling during market volatility, as exemplified by Bridgewater's Pure Alpha II, which rose approximately 11.3% in 2025 while the S&P 500 fell over 5% [2] - In the domestic market, macro strategy is still in its early stages but has been developing rapidly, with 131 macro strategy products showing performance in the last six months [2] - Although the average return for macro strategies was negative in May, the long-term performance is impressive, with an average return of 45.67% over the past three years, ranking fourth among all secondary strategies [2][3] Group 2: Performance Rankings - The top 20 macro strategy products in the last six months had a minimum return threshold of ***%, with an average return of ***% [4] - Notable products include "Luyuan Ruize Stable Growth" from Luyuan Private Equity, "Yize Global Macro No. 2" from Yize Investment, and "Duration Macro Multi-Strategy" from Duration Investment, which ranked in the top three [4][8] - Three products from billion-dollar private equity firms made the list, including "Honghu Stable Macro Hedge A" from Honghu Private Equity and "Lerui Stock-Bond Rotation No. 1" from Lerui Asset [4] Group 3: Yearly and Three-Year Performance - The top 20 macro strategy products over the past year had a minimum return threshold of ***%, with the top three being "Shenzhen Shanzhe Private Equity," "Duration Investment," and "Luyuan Private Equity" [9][13] - Over the past three years, the top 20 macro strategy products had a minimum return threshold of ***%, with "Luyuan Ruize Stable Growth" again leading the list [15][19] - The consistent performance of "Luyuan Ruize Stable Growth" across both six-month and three-year periods highlights its strong investment strategy [15]

Core Viewpoint - In May, A-shares saw collective gains across major indices, with the Shanghai Composite Index, ChiNext Index, and Shenzhen Component Index rising by 2.09%, 2.32%, and 1.42% respectively, indicating a market recovery despite a lack of clear leading sectors [2][3] Fund Managers - Lin Yuan and Dan Bin maintained their positions as the top two popular fund managers, with Lin Yuan's average return over the past year being ***% and Dan Bin's being ***% [7][9] - Dan Bin's overseas fund, Oriental Harbor Investment Fund, had a total holding value of approximately 62 billion RMB, with several U.S. stocks achieving over 10% gains in May [9][10] - Dong Chengfei, ranked 12th, announced a suspension of new client subscriptions for his managed products starting June 8, marking his first "closure" action after three years of private management [11][12] Popular Private Equity Firms - The top five popular private equity firms include Liangpai Investment, Ningbo Huansheng Quantitative, Honghu Private Equity, Guoyuan Xinda, and Hainan Shengfeng Private Equity, with several firms seeing a rise in popularity compared to April [13][14] Popular Private Equity Products - The top private equity products include "Luyuan Ruicheng Hui Zeng" managed by Luyuan Private Equity, with a product scale of approximately *** billion and average returns of ***% over the past year [24][26] - "Zeyuan Zhicheng Beite Quantitative No. 1 A Class" managed by Shenzhen Zeyuan achieved the highest performance among the listed products, with a scale of approximately *** billion and returns of ***% [26][28]