Quantitative private equity performance faces collective retreat, "quantitative market crash" controversy reignites.

Since July, the A-share market has experienced a round of intense volatility and adjustments. "Recently, both the quantitative strategy for increasing company volume and the quantitative stock selection strategy have experienced significant net asset value drawdowns and excess drawdowns, generally exceeding 10 points. Among them, quantitative stock selection suffers more market volatility, with more diversified holdings and larger declines," said a private equity quantitative investor with assets of billions of RMB. During market fluctuations, the voices of "quantitative selling" and "algorithm harvesting" have once again become prevalent. Jiao Bing, a researcher at Grace Fund, believes that the controversy over "quantitative selling" reflects the market's high level of attention to the 2.3 trillion RMB quantitative industry. Homogenization stampede risks do exist, but more so as a systemic structural problem rather than "malicious selling."