The Research On The Impact Of Quantitative Strategies To Private Offered Investment Funds

At the end of 2014,a new round of bull market aroused the development of private offered fund industry once again.According to Asset Management Association of China,as of December 31,2016,46505 private offered investment funds have been filled,including 25950 security funds which invest in the secondary market(accounting for 55%),and subscribed scale broke 10 trillion,for the first time over the ultra-public fund.The quantitative strategy funds developed rapidly in 2010 after the introduction of stock index futures,and its relatively stable profitability by people’s attention.But after the abnormal fluctuations of A-share market in 2015,the regulatory authorities introduced the procedural transactions of the management practices and implementation details.And the third-party programming interface and hedging tools required for quantization strategies are affected to varying degrees.And the quantitative funds in China started late,and had significant difference with foreign hedge funds.This paper compares the performance of quantitative and active management private offered investment fund in the domestic market according to different types and different market stage.The results show that the quantitative strategy did have a certain effect on the profitability and the risk control capacity of the private offered investment fund,and the specific differences with the main investment scope and different market stage.The quantitative strategy of stock,futures and hybrid private offered fund has different influence on the level of profitability,but it can obviously reduce the risk indexes of the fund and highlights the advantages of quantitative strategy in risk control.And the unique performance of the long and short strategy and the relative value strategy in the Quantitative Strategy Fund further enriched the investor’s choice of asset allocation...