The quantitative long strategy, which had the leading performance last year, has not performed well since the beginning of the year, and even experienced a phased negative excess.
In order to boost investor confidence, High-Flyer Quantitative, one of the "Big Four", announced on February 6 that it will use its own funds today500 million yuan to subscribe for the company's products and invest in the A** field.
High-Flyer Quant said that since the beginning of this year, market volatility has intensified, and there has been an irrational **. The more difficult times we are, the more we should be firm in our beliefs and overcome the challenges.
We always believe that the market will gradually return to the normal track, and we always believe in the investment value of the Chinese market. Hopefully, we can stay optimistic together and get through it together. High-Flyer quantification added.
Since the beginning of this year, the performance of some quantitative private placements has been miserable. One of the four kings of quantification, a number of products of Mingtun Investment fell by more than 12%, according to wind data, Mingtun Value Growth Phase 1 No. 12 made a profit of 449%, the decline in one month this year is almost three times that of last year, and a year's efforts have been in vain. In addition to Mingtun, the top 10 billion private equity quantification also has Qianxiang Growth Jinhong No. 3, a subsidiary of Qianxiang Assets, which fell by more than 10% at the beginning of the year, and Qianxiang Tianyuan No. 3 fell by 99%。The 20 billion scale of the quantitative giant Siyi Investment also suffered a performance decline at the beginning of the year, and Siyi Investment Changying No. 5 fell 973%, this straight line fall is extremely scary. The wind chart shows that the ** has fallen by more than 20% in the past 1 month. 
In addition, a quantitative private equity change last week shows that as of February 2, including Tianyan Xineng, Mingtun** Selected Guqiu No. 1, Lingjun Quantitative Stock Selection Pilot Premium, Wenbo 1000 Index Enhanced No. 1 Class B, Longqi ** Quantitative Long No. 1, Jiukun Qianyu CSI 1000 Index Enhanced Exclusive No. 7, High-Flyer Quantitative 1000 Index Exclusive No. 1 Phase 5 Class A and many other ** fell by more than 15% in a single week last week. 
So, why is the quantitative strategy, which performed so well last year, "not working" this year? Industry insiders said that on the one hand,Last year, the market style was more extreme, and most quantitative private equity holdings were more biased towards small and micro cap stocks, so the excess returns plummeted under the small and medium-cap style；On the other hand,In an environment of declining overall market activity, quantitative strategies tend to underperform。However, in the medium and long term, the excess return of the A** field is still attractive, and many overseas institutions have also increased their relevant allocations and increased their positions in "China Alpha". *Wall Street news, welcome**app to see more.