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Recently, the latest data from the private placement network shows that the overall return rate of tens of billions of private placements in 2023 will be negative, and the proportion of positive returns will be only 60%, and the average rate of return of quantitative strategies is significantly higher than that of subjective long strategies. At the same time, the performance differentiation between subjective long-only strategies and tens of billions of private placements has further intensified, with the difference between the first and last performance exceeding 40 percentage points.
Specifically, as of December 31, 2023, the overall return of 85 private placements of 10 billion yuan with performance display in 2023 was -0.77%. Among them, 51 private placements of 10 billion yuan achieved positive returns, accounting for 60%.
In terms of types, the performance of tens of billions of quantitative private placements was outstanding, and positive returns were achieved against the trend. Specifically, the overall return of the 32 quantitative private placements with performance display in 2023 will be 6.43%, of which 31 will achieve positive returns, accounting for 96.88%. The performance of subjective 10 billion private placements is not good, and the overall return of 41 subjective 10 billion private placements with performance in 2023 is -3.26%, of which 14 have achieved positive returns, accounting for 34.15%. The performance of subjective + quantitative dual-driven 10 billion private placements is in the middle, and the overall return of 12 subjective + quantitative dual-driven 10 billion private placements with performance display will be -0.56% in 2023, of which 6 will achieve positive returns, accounting for 50%.
- Definition of private equity services
Fund services refer to the business of fund sales, sales payment, share registration, valuation, investment advisory, evaluation, information technology system services and so on. In recent years, science and technology enterprises are on the rise, and industries such as medicine, new energy, and aviation equipment are developing rapidly, and the demand for financing is large. The increase in the middle class has also brought convenience to the financing of private equity funds. The demand for fund services will further increase as the scale of private equity development increases.
-- Analysis of the number of surviving private equity fund managers
According to data from the Asset Management Association of China, from 2016 to 2021, the number of surviving private equity fund managers in mainland China increased year by year, and the number of surviving private equity fund managers in mainland China reached 24,610 in 2021, an increase of 49 from 2020. In the first quarter of 2022, the number of surviving private equity fund managers in mainland China reached 24,611, an increase of 78 from the same period in 2021.
——Analysis of the number of private equity service products
In recent years, the market size of fund service products in mainland China has gradually expanded. According to data from the Asset Management Association of China, in the first quarter of 2022, the number of mainland fund service products reached 109,300, with an amount of more than 12.69 trillion yuan.
-- Analysis of the service scale of private securities investment funds
From the perspective of subdivided products, data from the Asset Management Association of China shows that in the first quarter of 2022, the amount and number of private securities investment fund service products decreased slightly, to 77,700 and 4.92 trillion yuan, respectively. In the first quarter of 2022, the number of private equity investment fund service products was 6,800, with an amount of 1.09 trillion yuan.
Zheng Xiaoqiu, general manager of Mingshi Partner Fund, believes that in the overall recovery environment, technological growth will become the main direction of capital pursuit, and structural opportunities will continue to emerge around new consumer electronics, artificial intelligence, high-end manufacturing, medical health, etc., and will drive the outbreak of new consumer electronics in 2024. In addition, with the gradual advancement of economic repair, there will be a lot of repair opportunities for value blue chips, and the main line of structural upgrading will continue to become the core stock selection logic of value blue chips.
Note: This article is for content dissemination only and does not constitute any investment advice!
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