What are the eight strategies of private equity funds?
1. stock strategy: stock strategy is divided into four sub-strategies: long and short stocks, stock quantification, stock industry strategy and stock compound strategy.
In fact, the long and short positions of stocks can be simply understood as buying and selling stocks: long positions buy low and sell high, short positions sell high and buy low.
Simply put, stock quantification is to predict the price changes of investment products through big data or establishing data models, so as to make buying and selling decisions.
The field of stock quantification can be divided into quantitative stock selection and quantitative timing:
(1) Quantitative stock selection is automatic stock selection according to a certain computer model. If the stock meets the set screening conditions, it will be put into the stock pool; Otherwise, it will be deleted from the stock pool.
(2) Quantitative timing refers to the use of different indicators to judge the trend of stock prices in a certain period of time in the future. If it is judged to be rising at that time, buy and hold; If it is judged to be a decline at that time, sell the clearance; If the judgment is shock, throw high and suck low.
Industry strategy means that fund managers specialize in exploring investment opportunities in a certain industry.
Stock compound strategy refers to investing in more than two stock sub-strategies at the same time, and the assets invested by each sub-strategy do not exceed 50% of the total assets of the fund. Buy private placement can go to private placement network, private placement network to buy private placement without subscription fee, and many products are free of subscription fee.
2. Managing futures strategy, as the name implies, since it is managing futures, there must of course be futures in the portfolio! Generally speaking, no less than 60% of assets are required to invest in the futures market.
Subjective trend, subjective arbitrage, subjective intraday strategy, system trend, system arbitrage, system high frequency
3. Fixed income strategy, generally speaking, refers to bonds. Due to the low risk of bonds, the regulatory authorities stipulate that no less than 80% of assets should be invested in fixed-income or quasi-fixed-income assets, which is 20% higher than futures.
Pure debt strategy: no less than 90% of the assets are invested in bonds, and the remaining 10% of the cash can be used for redemption and interest payment.
Strong debt strategy: on the basis of investing 80% bonds, the remaining assets must be purchased from equity assets such as hybrid funds and warrants to increase additional income.
Fixed-income strategy: The investment varieties basically come from the money market, such as bank time deposits, asset pledges, agreement deposits, swap contracts, commercial paper and other money market instruments.
4. Macro strategy: Macro strategy refers to judging the price trend of investment products through macro factors such as interest rates, policies and economic indicators. Macro-strategy is equivalent to a fundamental analysis of the overall economic situation, such as judging the impact of macro-factors such as Fed movements, foreign exchange movements and geopolitics on your investment.
5. event-driven strategy: event-driven strategy refers to researching and predicting the impact of major events that listed companies are experiencing or about to experience on the prices of relevant investment targets.
Eight strategies of private equity fund
6. Relative value strategy: that is, in the overvalued and underestimated investment varieties, the price difference is used to obtain income and pursue relative value.
Stock market neutral strategy: while doing long, use financial derivatives (mainly stock index futures) to hedge the market risk of long positions (short positions), so as to obtain excess returns, which are usually called alpha returns in the industry. Therefore, the neutral stock market strategy widely used in China is equivalent to the alpha strategy.
Arbitrage: The essence of relative value strategy is arbitrage. As long as an investment product has a price difference in different markets, it can gain income through buying and selling. This is an arbitrage opportunity.
Relative value compound strategy: Relative value compound strategy refers to the comprehensive use of two or more strategies for investment, which has the same meaning as stock compound.
7. Combined funds: FOF(fund of Funds) refers to the funds in the fund, which are mainly or exclusively invested in these funds, that is, holding the money of the parent fund and investing in several sub-funds. The biggest advantage of this strategy is to spread the risk twice.
FOF strategy: MOM(managers) refers to the fund manager among fund managers, that is, managing the fund manager to operate the invested fund assets, and replacing "managing money" with "managing people". MOM strategy itself needs to track and supervise fund managers at any time and adjust asset allocation ratio and scheme in time.
MOM strategy: MOM(managers) refers to fund managers, that is, managing fund managers to operate the invested fund assets, and replacing "managing money" with "managing people". MOM strategy itself needs to track and supervise fund managers at any time and adjust asset allocation ratio and scheme in time.
8. Compound strategy: refers to investing in two or more parent strategies at the same time.