本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） | 排名 | 产品简称 | 公司简称 | 三级策略 | 基金经理 | 产品规模 近5年收益 (河元) | 近5年超额 | | --- | --- | --- | --- | --- | --- | --- | | 2 | 九坤日享中证1000指数增 91号 明法量化中小盘增强1号B 类份额 | 九坤投资 中证1000指增 明泫投资 中证1000指增 | | 姚齐聪 凝意明,解 环宇 | | 应监管要求 | | 3 | 天演赛能 | 天演资本 | 量化选股 | 谢晓阳 | | | | ব 5 | 世纪前沿指数增强2号 聚宽进取一号 | 世纪前沿 中证500指增 聚宽投资 中证500指增 | | 景散 高斯蒙,满 | | | | | | | | 奇 | | 烦情扫码 | | 6 | 千象盛世量化选股1号 | 千象资产 | 量化选股 | 陈斌 | | | | 7 | 龙旗红旭 | 龙旗科技 中证500指增 | | 朱晓康 | | | | 8 | 致远激进一号B类份额 | 致诚卓远 | 量化选股 | 史帆 | | | | g | 鸣石春天28号 | 鸣石 ...

本文首发于公众号"私募排排网"。 （点击↑↑ 上图订阅专栏 ） 编者按 通常，投资者在了解私募时，会关注公司团队水平、策略运作、中长期业绩、风险控制等内容，为此，私募排排网推出# 深度揭秘100家私募 #栏目 ，对这些内容进行详解。 本期揭秘的是 百亿量化私募鸣石基金 。据私募排排网截至7月底数据显示， 鸣石基金在量化多头近一年收益TOP10榜单中以***%收益夺得第 一（ 点此看收益 ） ，公司旗下的量化选股产品"鸣石春天28号"则在近三年超额收益位居头部私募量化选股10强的第3名，该产品近三年超额 收益为***%。 （ 点此查看基金收益 ） 下面，就让我们一起来揭秘鸣石基金取得优秀业绩的核心原因。 | 排名 | 产品简称 | 公司简称 | 公司规模 | 基金经理 | 产品规模 | 今年来 今年来近3年 | 沂3年 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | (万元) | 收益 超额 收益 | 超额 | | 7 | 阿巴马乘风破浪A类 份额 | | 阿巴马投资 100亿以上 | 震海道 | | | | | 2 | 明泫股票精 ...

Core Insights - The article highlights the growing popularity and impressive performance of quantitative private equity funds, particularly focusing on Ming Stone Fund, which has established itself as a leading player in the industry since its inception in 2010 [1][2]. Company Overview - Ming Stone Fund was founded in December 2010 and currently employs over 100 staff globally, with more than 80% of the research team holding advanced degrees from prestigious universities [2]. - The founder and general manager, Dr. Yuan Yu, has a strong academic background, having obtained a Ph.D. in Finance from the Wharton School and previously worked at the Federal Reserve Bank of the United States [4][2]. Investment Strategy - The fund has developed a unique Chinese-style three-factor model (CH-3) that adapts the popular Fama-French model to better fit the Chinese market, focusing on market, size, and value factors [12]. - Ming Stone Fund employs a proprietary "Five-Ring Multi-Core" quantitative research system, which includes five key research stages: factor, AI, optimization, risk control, and trading [9][13]. AI Integration - Since 2021, the fund has increasingly integrated AI into its quantitative research processes, establishing the G-Lab AI laboratory to enhance efficiency and adaptability of investment strategies [13][14]. - The fund's approach combines academic research with AI-driven factor selection, ensuring a robust theoretical foundation for its investment strategies [14]. Performance Metrics - Ming Stone Fund's quantitative stock selection product, "Ming Stone Spring 28," ranked third among top private equity quantitative stock selection products in terms of excess returns over the past three years [15]. - The fund attributes its strong performance to its efficient research system, adaptable strategies, and the favorable market environment characterized by increased liquidity and volatility [16]. Risk Management - The fund emphasizes risk control by utilizing a self-developed multi-factor risk control model, which enhances the predictive capability for volatility in high-frequency trading strategies [18].

Core Viewpoint - The article highlights the growing popularity and impressive performance of quantitative private equity funds, particularly focusing on Ming Stone Fund, which has established itself as a leading player in the industry since its inception in 2010 [1][3]. Group 1: Company Overview - Ming Stone Fund was founded in December 2010 and currently employs over 100 staff globally, with more than 80% of the research team holding advanced degrees from prestigious universities [1]. - The founder and general manager, Dr. Yuan Yu, has a strong academic background, having obtained a PhD in Finance from the Wharton School and previously worked at the Federal Reserve Bank [3][4]. Group 2: Investment Strategy - The fund has developed a unique three-factor model tailored to the Chinese market, which includes market, size, and value factors, effectively explaining most cross-sectional return anomalies in the A-share market [13]. - Ming Stone Fund employs a proprietary "Five-Ring Multi-Core" quantitative research and investment system, which includes five key research stages: factor, AI, optimization, risk control, and trading [9][14]. Group 3: AI Integration - Since 2021, the fund has significantly increased the role of AI in its investment research, establishing the G-Lab AI laboratory to enhance efficiency across all research stages [14]. - The fund's factor library consists of 30,000 factors, primarily derived from manual research, supplemented by machine learning, ensuring a balance between interpretability and differentiation [15]. Group 4: Performance Metrics - Ming Stone Fund's quantitative stock selection product, "Ming Stone Spring 28," ranked third among top private equity quantitative stock selection products in terms of excess returns over the past three years [16]. - The fund attributes its strong performance to its efficient research system, adaptive strategies, and the favorable market environment, which has enhanced its ability to capture liquidity premiums [18]. Group 5: Market Insights - The article discusses the potential of small-cap stocks represented by the CSI 1000 index, which is expected to perform well due to its low institutional coverage and pricing inefficiencies [20]. - The fund emphasizes the importance of risk control, utilizing a self-developed multi-factor risk control model to manage volatility and exposure effectively [21].