August 12, 2026 (InvestinChina.asia) – The pullback in Chinese equities did little to cool issuers’ appetite. According to data from Private Fund Research (Simu Pai Pai Wang), 762 securities-focused private fund managers filed a combined 1,763 products in July — including self-managed and advisory mandates — up 20.26% from June’s 1,466 and marking the highest single-month tally so far this year.
For the first seven months of 2026, total filings reached 9,759 products, a 43.85% jump from 6,784 in the same period a year earlier. Equity exposure remains the dominant allocation theme, with resources continuing to concentrate in the stock lane while futures, derivatives, fixed income and fund-of-funds products serve as complementary sleeves.
Equity strategies lead, options sub-strategy jumps 45%
Equity strategies accounted for 1,276 of July’s filings, or 72.38% of the total, surging 30.07% from June’s 981. The A-share correction, rather than deterring issuance, opened a window for investors to add equity exposure.
Multi-asset strategies ranked second by volume but lost momentum: 199 products were filed in July, down 17.43% month-over-month even as overall volumes rose.
Futures and derivatives strategies — often dubbed “crisis alpha” for their tendency to perform during market stress — also saw a filing boom, with 153 products registered, up 27.50%. Within that bucket, the niche options strategy was the standout, climbing 45.45% from June. While still a small share of total filings, options strategies gained acceptance as investor familiarity deepened. Quantitative CTA products, another popular sleeve, grew 35.94%.
Among equity sub-strategies, discretionary long-only and quantitative long-only remained the backbone of issuance, together accounting for nearly 60% of all July filings — 562 discretionary long-only products (31.88%) and 449 quant long-only products (25.47%). Market-neutral equity strategies filed 207 products (11.74%), with both market-neutral and discretionary long-only growing more than 30% month-over-month as investors revisited their allocation value amid headwinds facing quant long-only approaches.
Quant dominates; heads of the industry set the pace
Of the 1,763 July filings, 805 came from large managers — those overseeing more than 5 billion yuan in assets — representing 45.66% of the total despite their smaller headcount. Among the 66 managers that filed at least five products, 47 were large managers, including 36 with assets exceeding 10 billion yuan. The top ten filers among large managers each registered no fewer than 13 products, all at the 10-billion-yuan scale.
Mid-sized managers (1 billion–5 billion yuan) contributed 359 filings (20.36%), while small managers (under 1 billion yuan) — though numerous at 453 firms — collectively filed 599 products (33.98%), with average output trailing other tiers.
On a year-to-date basis through July, six managers each filed more than 100 products, all of them 10-billion-yuan quant houses. Sum Squares Investment led the industry with 211 filings, followed by Minghong Investment, Mingshi Fund, Century Frontier, Chengqi Private Fund and Black Wing Asset.
Quantitative products made up 4,762 of the 9,759 filings in the first seven months, or 48.8% of the total. Quant long-only strategies accounted for 2,420 of those — 50.82% of all quant filings — followed by equity market-neutral and quant CTA.
Managers active on the issuance front also posted stronger performance. Among the 409 managers with disclosed track records that filed products in July, the average year-to-date return was 5.56%, with 62.59% delivering positive results. That compares with an average 3.15% gain and a 53.45% positive-return ratio across all 1,929 managers with disclosed performance over the same period.