Core Insights - The private equity fund market showed strong performance in the first three quarters of 2025, with an average return of 25.00% across 9,363 funds, and 91.48% of products achieving floating profits, surpassing the performance of the CSI 300 index during the same period [1] Group 1: Overall Market Performance - The stock strategy led the market with an average return of 31.19% from 5,976 funds, with 93.52% of products in profit [1] - The multi-asset strategy followed with an average return of 18.92%, and 90.01% of its products achieving floating profits [1] - The combination funds, although fewer in number (290), had a solid average return of 15.93%, with the highest floating profit rate of 95.17% among the five major strategies [1] - Futures and derivatives strategies had average returns of 10.72% and 9.26%, with over 80% of products in profit [1] Group 2: Stock Strategy Sub-Strategies - The quantitative long strategy outperformed with an average return of 35.95%, compared to 32.57% for subjective long strategies [2] - The stock long-short and market-neutral strategies had lower average returns of 17.83% and 8.07%, respectively [2] - Factors contributing to the strong performance of quantitative long strategies included favorable market conditions, high liquidity, increased market volatility, and the ability to process large data sets for risk diversification [2] Group 3: Futures and Derivatives Strategies - Within the futures and derivatives strategies, other derivatives strategies led with an average return of 15.84% [2] - The subjective CTA strategy had an average return of 12.39%, while the quantitative CTA strategy returned 10.44%, with subjective strategies performing better overall [2] - Options strategies had an average return of 8.28% [2] Group 4: Bond Strategy Performance - The convertible bond trading strategy emerged as a standout performer with an average return of 18.35%, significantly higher than pure bond strategies (4.98%), bond enhancement strategies (6.40%), and bond composite strategies (8.60%) [3] - The overall private equity fund market in the first three quarters of 2025 displayed a positive outlook, with notable differentiation in returns across various strategies and sub-strategies, indicating diverse investment opportunities [3]