The reason why these private equity products will fall below the warning line is because the current market situation is not very good. For these fund managers, there is no good way to make the whole A-share market rebound on a large scale, and some industries are at the critical stage of adjustment and upgrading, which makes the whole market in a downturn.

First of all, due to the Spring Festival, most organizations hope to have a good performance before the Spring Festival. Therefore, during this holiday period, there was a large-scale stock trading. More importantly, for some retail investors, they will adjust their positions before the Spring Festival, which is often the peak of selling, because most people often choose to buy government bonds before the holiday to achieve short-term gains. They don't want to put their stocks at greater risk during this period, so for these people, they will sell their stocks accordingly, which will directly lead to the stock price decline.

Secondly, these fund managers often take investors' money when investing, and often unconsciously amplify their own risks. Therefore, these private fund managers often invest their funds in some industries with relatively high risks, so the overall risk of these private funds will be greater than that of other Public Offering of Fund. In this case, if the market fluctuates greatly, especially in the process of market decline, the impact on these private equity funds will be more serious, but for those in Public Offering of Fund, the impact may be less.

Finally, the mood of the whole market has been depressed, which makes it difficult for these managers to achieve relatively large growth no matter how they operate, so we will see that many products of private equity funds have fallen sharply.