Most benefit curves begin to improve with the increase of scale, which is called scale economy. However, with the continuous expansion of scale, management costs increase and its marginal income decreases.

In the early stage, quantitative investment funds are the same as ordinary funds. The larger the scale, the more strategies can be used, the more investment products, and the higher the general income. However, as the scale expands to a certain extent, its profit space will remain unchanged.

In other words, quantitative fund itself is not suitable for managing super-large-scale funds, for example, when the total amount of funds is as high as hundreds of billions or trillions, it is not suitable to use quantitative strategy.

For example, there are many arbitrage opportunities where the Shanghai and Shenzhen 300 stock index futures are launched, because there are not many people involved. However, over the years, more and more people have participated in the Shanghai and Shenzhen 300 index arbitrage, which makes the index be pushed to normal by the market once there is arbitrage space. The quantitative strategy aims to capture a small profit margin by using the model, such as a stock worth 5 yuan. If I sell 4.5 now, the computer will respond quickly and place an order to buy it, which is faster than the computers of people and competitors. But in the market, such opportunities are limited.

Therefore, no matter how attractive the quantitative investment strategy is, it is impossible to replace the traditional fundamental and technical analysis called the mainstream method.

As for the rate of return, there are high and low, the highest is over 100%, some small funds may be higher, and some have great losses. You can't know how many. Quantitative investment funds generally belong to private equity funds and are foreign-funded funds. Very little information is revealed. In addition, there is no real quantitative investment fund in China, or there are few such funds. The reason is that there are too few domestic investable products. In recent years, some companies are discussing the promotion of quantitative investment in China, hoping that the government will introduce more products, especially derivative financial instruments.