Traditional Culture Encyclopedia - Traditional festivals - What is a quantitative fund?
What is a quantitative fund?
Question 2: What is the significance of fund quantification? Quantitative fund is a fund managed by quantitative methods such as "quantitative investment" and "quantitative stock selection".
What is quantitative investment? Quantitative investment is a means to find Alpha through quantitative model, which can effectively eliminate the interference of subjective and irrational factors, thus ensuring strict discipline in investment.
What is quantitative stock selection? The so-called quantitative stock selection is to evaluate good stocks and bad stocks through objective data, information and methods. It has two obvious advantages: efficiency and discipline. Firstly, the quantitative model can collect and analyze data efficiently; Secondly, quantitative stock selection ensures the objectivity of the stock selection process and avoids the randomness in human nature.
Compared with pure fundamental funds, quantitative funds do not bet on a few sectors or a few listed companies, but comprehensively scan and mine the whole market stocks. In the long run, its balanced and objective advantages will become more and more prominent.
Question 3: The difference between quantitative investment and hedge funds. First of all, you should make clear the difference between qualitative analysis and quantitative analysis. A simple example of qualitative analysis is that stocks and bonds are different in nature, and stocks A and B are also different. Buying A shares in the morning is different from buying A shares in the afternoon. This is a qualitative analysis of the problem. But in fact, A shares and B shares are related. And how to determine their correlation, and then introduce the whole concept of quantitative analysis. Generally speaking, quantitative investment is quantitative analysis using financial modeling. Among them, hedge funds are the most widely used. Hedge funds mean buying one subject matter and then selling another. Arbitrage by using the correlation between the target and the target. And this arbitrage needs accurate quantitative analysis. Therefore, hedge funds mainly adopt the method of quantitative investment. But quantitative investment is not necessarily a hedge fund.
Question 4: what is the quantitative fund's response to the dead income w?
Question 5: What does quantitative fund mean? Chinese name: quantitative fund
Time: 2009
Advantages: investment mainly adopts quantitative investment strategy.
Features: stock selection depends on data indicators.
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brief introduction
At present, the books that mainly introduce quantitative investment strategies are:
(1) Quantitative Investment-Strategy and Technology (Ding Peng/Electronic Industry Press /20 1 1, 2002). The book introduces the details, formulas and implementation methods of various quantitative strategies with more than 60 cases.
(2) High-frequency trading (translated by aldridge and Tan Xiaojun). /20 1 1 May/ machinery industry press), and expounds the principle, system and realization method of high-frequency trading.
(3) Active portfolio management (written by Grinal De (USA) and Kahn (USA), translated by Liao Li /2008-05-0 1/ Tsinghua University Publishing House) mainly introduces how to build active portfolio to win the market.
(4) Interpretation of Quantitative Investment, (Xinhaizhu/Machinery Industry Press /20 10 0 1), is a light and interesting book, which introduces Simmons, a master of quantitative investment, and his medal fund.
Question 6: What is quantitative hedging? At present, the quantitative investment strategy in the market has gradually attracted attention. The main quantitative hedging strategies are:
1, market neutral strategy
The main pursuit is to eliminate most or all of the systemic risks of the portfolio through various hedging methods, to find the pricing deviation of similar assets in the market, and to earn a small price difference in the market by using the time difference when the value returns to rationality to obtain sustained income.
2. Event-driven arbitrage strategy
Take advantage of the wrong pricing of asset prices caused by special events and profit from the wrong pricing.
3. Relative value strategy
Mainly use the value deviation of securities assets to make profits.
Generally speaking, quantitative investment can indeed avoid the systemic risks of the market to a certain extent, so as to obtain stable income, but it is more professional and needs continuous learning and progress. I joined an investment group, and the group owner has done some research in this field. The group number is 74429394, hoping to bring help to those who are interested in quantitative investment.
Question 7: Why is quantitative fund a better choice than index fund? In fact, the dimensions of the two are different.
(1) Based on the idea of passive investment, index funds believe that the market is completely efficient, and no investor can outperform the market for a long time. It turns out that most fund managers who actively invest in the US stock market can't beat the S&P 500 index funds. The advantages of index fund investment are:
A. this ratio is very low. Compared with the actively managed 1%-2% management fee and redemption fee, the cost of index funds is usually below 0.5%.
B. the income is considerable. Whether in China or the United States, there are too few fund managers who can consistently outperform the market for a long time.
(2) Quantitative fund is a fund created based on various ideas of quantitative investment. Take the fund constructed by Alpha strategy as an example, its purpose is to eliminate the risk of market fluctuation and obtain low-risk excess returns beyond the market. Such funds often think that through certain methods, they can dig out the excess returns of individual stocks (that is, the market is not always completely efficient), so as to obtain low-risk returns through stock index futures hedging.
Conclusion: Quantitative funds are not naturally superior to index funds. They have different dimensions and different risk/return characteristics, so they cannot be generalized. If the market is considered to be effective for a long time, then index funds are a better choice; However, if fund managers can continuously outperform the market, and investors are risk-averse and unwilling to take the risk of market fluctuations, then quantifying hedge funds may be a better choice.
Question 8: What does the quantitative strategy mean in the fund? Specifically, quantitative funds mainly rely on computer quantitative analysis methods to screen stocks, and do not need to rely on subjective judgment and personal views to analyze each stock separately and deeply. Facing the complicated stock market, the systematic portfolio construction of quantitative funds can greatly reduce the influence of personal emotions on the portfolio, overcome human weaknesses and cognitive biases, avoid making irrational investment decisions when the market is extremely fanatical or pessimistic, and make the stock selection process more rational.
Question 9: What's the difference between quantitative funds and general funds? Since the second half of 20 14, A shares have stepped out of a bull market with a rise of 1000 points. The quantitative fund, which is famous for its discipline and timeliness, has become the "battle base" in the bull market. Huitianfu's first quantitative fund, Huitianfu Growth Diversification, was launched on February 4th. The most prominent advantage of Huitianfu's multi-factors growth is that it can stably obtain high returns through quantitative means.
Question 10: What are the advantages of quantitative core funds in investment management? Quantitative core funds have many advantages in management, mainly as follows:
Advantage 1: Mainstream
Quantitative investment has played an important role from the zero of 1970 to now, and has probably accounted for more than 30% by 2009, becoming one of the absolute mainstream investment methods.
Advantage 2: Compared with active investment.
Quantitative investment itself contains the thoughts, experiences and ideas of investors in the model through the model, and trades through the model results.
Its advantage is that it can shield investors from emotional fluctuations when trading in the market. In addition, computers also have certain advantages in data breadth. It is advantageous to deal with a large amount of information.
Advantage 3: What is the core of quantitative investment?
The core of quantitative investment is model design, but the real core is the investment idea contained in the model. And the concept of different market applications is not exactly the same.
So different market models are different. For example, American, Japanese and European models look very different.
Advantage 4: Change the mode according to the market characteristics.
There is nothing wrong with the quantitative investment method itself. The question is whether it can be used well. For example, for the policy market, quantitative investment can reduce policy risks through theme balance.
On the other hand, if quantitative investors have a great grasp of a certain policy direction, they can also obtain excess returns by forming factors of the policy.
For emerging markets like China, there are also emerging market methods. The key is whether we can grasp the characteristics of the market and design a good investment model.
Advantage 5: The advantages of other countries can be used for reference.
When we first invested in Asia, we started from scratch. Basically, we made a lot of research preparations from the beginning, and we mainly focused on companies in Hongkong and Taiwan Province Province.
We are expanding the China market, and the preparation time for the research is very long. In addition, we look at the market from a quantitative perspective.
More specifically, it is the grasp of investment opportunities in the target market, and many experiences in this area can be used for reference.
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