The capital market is typically cyclical, and the investment style will be constantly changing, while most investors are good at a limited field, and some investors even have path dependence. This has led to "doubling in one year and doubling in three years" in the investment field, which also shows that it is very difficult to continue to lead in the investment field.
Since 2020, there have been very complex changes in the internal and external macro environment, which has also led to greater volatility in the capital market. Taking A-shares as an example, the market performance in 2020 was better, the performance began to diverge in 2021, and since 2022, it has shown an overall trend of volatility and weakness.
For domestic securities private placements whose source of income is mostly the A-share market, in this context, the performance of many private placements has soared and fallen. And every year the performance is at the top, but there are very few! Therefore, the ability of private placements to continue to rank at the top often indicates that their ability to "attack" and "control drawdowns" is outstanding.
Today, the author will sort out the list of private placements that have ranked in the top 50% of each year's income since 2020 for your reference. (Among them, the income in 2023 is calculated from January to August)
Scale of more than 5 billion: 10 private placements such as Jiaqi and Yanfu continue to lead
According to the data of the private placement ranking network, among the private placements with a scale of more than 5 billion, there are 148 private placements with performance since 2020, and the median returns in each year from 2020 to 2023 are 31.13%, 14.34%, -3.48% and 2.77%, respectively, and the median cumulative income since 2020 is ***%.
[Due to compliance requirements, private equity funds cannot publicly display performance, and the income data involved in the text is replaced by ****, and qualified investors can view the income data.] ]
Since 2020, there have been only 10 private placements that rank in the top 50% of annual returns. They are: Jiaqi Investment, Luxiu Investment, Renqiao Asset, Shanghai Tianyan, Jing'an Investment, Mingtun Investment, Hainan Century Frontier, Xuanyuan Investment, Shengquan Hengyuan, and Yanfu Investment. Among them, 5 are quantitative private placements, 2 are subjective private placements, and 3 are "subjective + quantitative" parallel private placements.
Among them, Jiazhi Investment has the highest cumulative return since 2020. Jiaqi Investment has achieved more than ***% returns in 2020 and 2021. Since 2022, there is still a good performance. The cumulative income since 2020 has exceeded ***%.
According to the information of the private placement ranking network, Jiaqi Investment was established in November 2014, and its core strategy is a stock strategy, which is a quantitative private placement of tens of billions of yuan. The company is composed of mathematical, statistical and computer experts with senior quantitative investment experience at home and abroad. The company is committed to strategic research and innovation, and focuses on short- and medium-term investments with a sound and sustainable style under the premise of controllable risks.
Tens of billions of private placements Jing'an Investment is the only two subjective investment private placements on the list. Jing'an Investment achieved more than ***% income in 2020. Since 2022, there has also been a good performance. The cumulative income since 2020 has exceeded ***%.
Jing An Investment was established in January 2017 with a multi-asset strategy. The firm focuses on fundamental research, focusing on stocks, bonds and commodities, striving to find investment strategies with a margin of safety and driven.
Yanfu Investment has been relatively ahead of the income this year. Yanfu Investment achieved more than ***% income in 2020. From January to August 2023, more than ***% of the income was achieved. The cumulative income since 2020 has exceeded ***%.
Founded in July 2019, Yanfu Investment is a quantitative private placement of tens of billions of yuan, with its core strategy as an equity strategy. The core members of the company's team have working experience in top hedge funds in the United States and core positions in domestic first-tier Internet companies.
Scale of 1-5 billion: 17 private equity firms, including Tianyi Road, continue to lead
According to the data of the private placement ranking network, among the 10-5 billion private placements, there are 297 private placements with performance since 2020, and the median returns in each year from 2020 to 2023 are 36.28%, 11.46%, -8.00%, -2.34%, respectively, and the median cumulative return since 2020 is ***%.
Since 2020, only 17 private placements have ranked in the top 50% of each year's earnings. Among them, 5 are quantitative private placements, subjective private placements, and "subjective + quantitative" private placements in parallel, and 2 have not disclosed relevant information.
Among them, the top 5 cumulative returns since 2020 are: Beijing Micro Boyi, Jilu Assets, Shanghai Liangyu Private Placement, Jiahong Assets, and China Eastern Airlines Private Placement, all with income above ***%.
Beijing Micro Boyi achieved more than ***% revenue in 2020. In 2022, it has bucked the trend and achieved more than ***% gains. The cumulative income since 2020 has exceeded ***%.
According to the data of the private placement network, Beijing Micro Boyi was established in December 2015, and its core strategy is a multi-asset strategy. The company is a private equity firm specializing in low-latency programmatic transactions. The founder has worked in well-known high-frequency proprietary institutions in the United States for many years and has more than 10 years of high-frequency trading experience.
As a "subjective + quantitative" parallel private placement, Tianyi Dao Investment has achieved more than ****% income in 2020. In 2022, it also bucked the trend and achieved more than ***% gains. Since 2020, the cumulative income has been nearly ***%.
Tianyidao Investment was established in March 2005, and its core strategy is equity strategy. The company has a long series of stocks, a series of fixed income, and an index enhancement series of products, closely tracks the index, dynamically adjusts strategies and combinations according to different market conditions, and has experienced the test of multiple rounds of bull and bear markets.
Scale of 5-1 billion: 13 private equity firms, such as Butterfly and Yuheng, continue to lead
According to the data of the private placement ranking network, among the 5-1 billion private placements, there are 217 private placements with performance since 2020, and the median returns of each year from 2020 to 2023 are 34.17%, 11.81%, -8.31%, -2.23%, respectively, and the median cumulative return since 2020 is ***%.
Since 2020, there have been only 13 private placements that rank in the top 50% of each year's earnings. Among them, 2 were quantitative private placements, 8 were subjective private placements, and 3 were "subjective + quantitative" private placements.
Among them, the top 5 cumulative returns since 2020 are: Asia Martingale Assets, Gongqingcheng Guangju Xinghe, Butterfly Assets, Yuheng Capital, and Qianhai Yujin Investment, all of which have returns of more than ***%. Only Butterfly Asset is a quantitative investment private placement.
Butterfly Asset has achieved more than ***% income in 2020, still achieved more than ****% income in 2021, and also bucked the trend and achieved more than ***% income in 2022. The cumulative income since 2020 has exceeded ***%.
According to the data of the private placement network, Butterfly Asset Management was established in April 2018, relying on the long-term securities investment experience and quantitative investment experience of the core members, relying on advanced big data analysis and mathematical modeling technology, the research and development of high, medium and low frequency strategies and arbitrage strategies on various financial products, and strives to bring considerable and relatively good investment returns in different cycles and different market environments.
Yuheng Capital has had relatively balanced returns in all years since 2020, and led the returns in 2022 and 2023. Among them, more than ***% of the income was achieved in 2020 and 2021, and more than ****% was achieved in 2022, and the ***% income was achieved from January to August 2023. The cumulative income since 2020 has exceeded ***%.
Founded in June 2015, Yuheng Capital's core strategy is equity strategy, and investment targets tend to choose individual stocks with high-quality growth potential, as well as stable cash flow returns in the future predictable stage to build portfolios.
Risk Disclosure: Investment is risky, the past performance of the fund involved in this information is not indicative of its future performance, the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund, and our company does not promise or predict the future return of the product by express, implied or any other means. Investors should pay careful attention to various risks, carefully read the fund contract, fund product information summary and other sales documents, fully understand the risk-return characteristics of the product, make investment decisions according to their own circumstances, and bear their own profits and losses for investment decisions.