Core Viewpoint - The stock market experienced a broad rally in August, but there was significant divergence among individual stocks, leading to a general decline in excess returns for quantitative strategies. Only 20.83% of the 696 quantitative long products achieved positive excess returns in August [2][3]. Summary by Sections Market Performance - In August, the quantitative long strategies saw a decline in excess returns, particularly after the second week, when technology stocks like Yizhongtian, Hanwujing, and Industrial Fulian became the main drivers of market gains, while other sectors lagged [2][3]. - The average excess return for quantitative long products was -2.28% for the month, with only 145 out of 696 products achieving positive excess returns [3]. Weekly Performance Breakdown - **Week 1**: Average excess return of 0.81%, with 84.20% of products achieving positive excess [3]. - **Week 2**: Average excess return of -1.06%, with only 21.98% of products achieving positive excess [3]. - **Week 3**: Average excess return of -0.61%, with 23.85% of products achieving positive excess [3]. - **Week 4**: Average excess return of -1.99%, with only 12.21% of products achieving positive excess [3]. Notable Products - Despite the overall decline, 20 products managed to achieve positive excess returns for all four weeks in August, including "Mingyue Songjian Zhaozhao 1" managed by Huang Chen and "Nianjue Lianzhen Quantitative Selected Excellent 1" managed by Wang Xiao [3][4]. - The top-performing product in August was "Nianjue Lianzhen Quantitative Selected Excellent 1," which achieved a significant excess return, outperforming other quantitative long products [9]. Performance by Fund Size - **Over 100 Billion**: 51 products achieved positive excess returns, with a total excess return of -1.69% [5][10]. - **50-100 Billion**: 20 products achieved positive excess returns, with a total excess return of -1.35% [10][11]. - **20-50 Billion**: 9 products achieved positive excess returns, with a total excess return of -2.53% [13]. - **10-20 Billion**: 14 products achieved positive excess returns, with a total excess return of -2.57% [16]. - **5-10 Billion**: 19 products achieved positive excess returns, with a total excess return of -2.55% [18]. - **0-5 Billion**: 32 products achieved positive excess returns, with a total excess return of -3.02% [20]. Key Players - Mingyue Songjian Zhaozhao 1 and Nianjue Lianzhen Quantitative Selected Excellent 1 were highlighted for their strong performance in August [4][9]. - Mingyue Investment and Mengxi Investment were noted for their significant number of products achieving positive excess returns [8][9].

Core Viewpoint - The article highlights the growth and performance of quantitative private equity funds, particularly those with assets under management between 5 billion and 50 billion, which are often overlooked compared to larger funds [2]. Summary by Sections Quantitative Private Equity Overview - As of May 16, there are 862 quantitative managers, with 190 managing between 5 billion and 50 billion, accounting for 22.04% of the total [2]. - Among these, 404 quantitative products have shown an average return of 20.46% and a median return of 16.08% over the past year [2]. Performance of Top Products - The top 20 products in terms of performance are predominantly quantitative long products, with 17 out of 20 falling into this category [2]. - The article mentions specific products and their performance, such as "翰荣安晟进取一号B类份额" from 翰荣投资, which achieved a return of ***% [7]. Management Firms and Locations - The majority of managers are based in Shanghai, with 8 firms, followed by Shenzhen and Hangzhou with 4 each [3]. - Notable firms include 翰荣投资, 量盈投资, and 靖奇投资, which have consistently ranked among the top in performance [3][8]. Detailed Product Insights - "量盈半导体指数增强一号" from 量盈投资 ranks second with a return of ***% [7]. - 靖奇投资's "靖奇基石5号B类份额" ranks third, also with a return of ***% [8]. - 海南盛丰私募's "盛丰量化选股1号" ranks fourth with a return of ***% [9]. Strategy and Technology - Many of these firms leverage advanced technology and AI in their investment strategies, with teams composed of experienced professionals from prestigious institutions [7][8][10]. - For instance, 量盈投资 utilizes a trading system developed by former Google engineers, while 靖奇投资 employs data mining and modeling techniques [7][8]. Market Trends - The article notes a shift in investor focus towards smaller quantitative private equity firms, which have shown competitive performance and innovative strategies [2][12].