2021 private equity fund market report (62 pages)

Industry development ：  By 2021 end of the year , The number of records of private equity fund managers is 9069 home , Compare with 2020 Year-end increase 161 home . 2021 The number of private equity fund managers newly filed in the whole year was 522 home .

2021 In, the number of newly registered products of private equity securities funds was 31596 only , share 76839 Only private equity investment funds are operating , a 2020 Increase in 22515 only , Survival scale 6.12 Trillion yuan , a 2020 Year end growth 1.82 Trillion yuan .

2021 In, the scale of quantitative managers grew rapidly , New in the year 14 Ten billion yuan quantitative manager . 2021 The largest number of annual records 10 All the institutions are quantitative institutions , Lingjun recorded products all year round 457 only , No. 1 , Jiukun 、 The records shall be filed for the whole year 378、 283 Only products , Column 2 、 Three place . According to the private placement data and the calculation of the Fund Evaluation Center , At present, the total scale of quantified products exceeds trillion yuan , But eliminate CTA、 Make a new 、 Interest arbitrage 、 Neutral strategy margin occupation and other non stock trading scale , Based on annualized bilateral 100 The assumption of double turnover , It is considered that the stock trading volume of quantitative products is about 1400 One hundred million yuan , With wind whole A Calculation of daily average transaction volume of trillion , The share of stock trading volume of quantitative strategy is about 14%.

Performance review ： 2021 The private placement market rose in 8.73%, The stock long strategy rose throughout the year 9.53%; Market neutral year-round gains 5.27%; The bond strategy gained throughout the year 5.56%; Managed futures rose throughout the year 10.68%; Arbitrage strategies rose throughout the year 7.63%; Macro strategy rose 7.71%, Portfolio funds rose 5.40%, Multi Strategy rise 8.46%.

Strategic outlook ：  The subjective long positions of stocks are allocated in a balanced way around the two main lines of landscape transfer and dilemma reversal , Focus on smart cars 、 Energy storage 、 Power grid 、 consumption 、 High quality targets of medicine and Hong Kong stocks ; The bond strategy focuses on grasping the band opportunity of interest rate , Cautious credit sinking ; Alpha Strategic , Closely track the market capitalization style 、 Trading volume 、 Turnover rate 、 Factor return, volatility and other indicators , In depth research manager , Focus on moderate scale 、 Low policy relevance 、 pure Alpha A growth manager with steady income ; CTA Strategic , As a configuration strategy, continue to pay attention to , The medium and long term strategy focuses on the risk control system , Short cycle managers focus on data processing and strategy iteration ; Arbitrage strategy , As a low-risk strategy, the certainty is high , However, the arbitrage space of each sub strategy is narrowed , Need to lower revenue expectations . Mixed strategy , Identify managers' ability to develop multiple strategies , Distinguish between true mixing and “ Tying ”.

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