Public offering of quantified market suddenly got popular.

This year, the public offering quantitative market suddenly became popular. On one hand, banks and securities firms promote it vigorously as a "replacement" for quantitative private equity, with investors showing a high level of enthusiasm and even leading to "sold out in one day" and "purchase restrictions", with some products being restricted to as low as 50 yuan; on the other hand, fund companies continue to upgrade and iterate their quantitative strategies, recruiting talent from private equity, upgrading GPU computing power, and accelerating the layout of the quantitative racing track. Wind data shows that as of May 22, there were a total of 861 quantitative funds in the market with a total size of 5759.64 billion yuan, an increase of 13% compared to the beginning of the year. According to feedback from various channels, the rise of public offering quantification is due to the following reasons: First, the outstanding performance of private equity quantification in recent years has "ignited" the entire sector. For example, in a certain joint-stock bank, the public offering and private offering departments of the Wealth Selection Department belong to the same team, with a high degree of internal sharing. In terms of sales, wealth managers, especially private banking departments, sell more quantitative private equity products, leading to a significant improvement in the logic, acceptance, and professionalism of quantitative products. Second, public offering quantification does not extract performance fees, and the ultimate return is not inferior to private equity. "This year, public offering quantification has shown good competitiveness. Compared to private equity quantification, public offering quantification does not charge performance fees, and the cost-effectiveness of excess returns is not much lower." A senior executive at a top securities firm in South China stated that private fund fees are mostly composed of "1% management fee + 25% performance fee", with some private funds even reaching "2% management fee + 25% performance fee". After deducting all expenses, the excess returns are similar to those of public offering quantification.