The Two Phases Of Public Offering Advance Layout Are New Products.

Quantitative hedging is the combination of the two concepts of "quantification" and "hedging".

Quantification refers to guiding investment by means of statistical methods and mathematical models. Its essence is quantitative practice of qualitative investment.

The so-called quantitative stock selection is to evaluate good stocks and bad stocks through objective data, information and methods.

In recent years, with the continuous development of the securities market, financial derivatives are emerging one after another. Shorting tools are constantly enriched, and the complexity of investment is also increasing. Among them, the quantitative hedging strategy aiming at absolute return is one of the main investment strategies of institutional investors because of its low risk and stable income.

Quantify hedging products recognized

Everbright "Oolong" allows quantified hedge funds to become "famous" overnight in China, and is subsequently identified as "insider trading" by the SFC.

However, this event is very special. Compared with traditional funds, there are often insider trading events such as "rat farm". Under normal circumstances, it is very difficult to quantify such hedging.

Quantifying the day-to-day work of hedge fund managers seems boring.

"We never go out to investigate stocks, never invite secretaries to eat, just do their own home models, write strategies," a private hedge fund manager quantitative told reporters.

"Maybe this is also one of the reasons. Traditional fund's insider trading is common, and quantifying hedge funds is more difficult. According to my contacts, regulators are very supportive of quantifying the innovation and launch of hedging products."

The fund manager said.

Welcome two hedge "sharp weapon"

With regulatory support for innovation, and

With the gradual liberalization, our financial derivatives tools are in a rich variety of processes.

At present, domestic hedge funds are mainly based on stock equity (alpha Fund) and arbitrage.

"Before 2010, the private placement of sunlight is only a strategy of stocks. After the launch of Shanghai and Shenzhen 300 stock index futures, quantitative hedging strategies will be developed rapidly. With the advent of new derivatives tools, there will be thirty to forty hedge fund strategies in the future," the industry expects.

It is estimated that by the end of last year, there were about 300 quantitative investment products, compared with about 100 in 2013.

At present, the amount of domestic quantitative pactions is about 50 billion ~1000 billion yuan, and almost all public private placement, large brokerages, Futures Company, trust companies, banks and so on have begun issuing quantitative hedging products.

along with

The expansion of large scale, more and more high net worth customers seek value added financial products.

Because of the low risk and considerable benefits of quantifying products, a large number of such investors are favored.

However, we must not neglect that quantitative investment is also faced with bottlenecks such as high paction costs, relatively simple hedging tools, and scale.

"Quantitative investment is not a good model, but it has found a magic weapon for making money. It needs to constantly develop new strategies and adapt to market changes, and expect more derivatives from the market, and the market space will be immeasurable."

Ding Peng, chief strategist at China Eastern Airlines, said that quantitative hedging is just like the Internet plus 15 years ago. It has just started. There are many problems and many opportunities.

Regarding the preparation for the two index futures, Ding Peng said that preparations are simple, and that Shanghai 50 and China Securities 500 stock index futures will be used as other Shanghai and Shenzhen 300 stock index futures.

Stock index futures are only derivatives tools. Quantitative investors need to focus on these two indices.

Among them, SSE 50 has a high dividend payout ratio. Investors should earn dividends and earn 500 of Alfa's earnings.

Public offering has also been actively preparing for two new index futures.

In the near future, Yi Fang Da sells the 50 index of Yi Fang Da SSE first, and finalized the subscription because of the hot subscription. The classification fund can implement diversified investment strategies with 50ETF options, Shanghai 50 Futures and Shanghai 50ETF.

According to the fund's recruitment data disclosed by the SFC, for the launch of two new stock index futures, many companies are declaring similar products, such as the steady Alfa's regular open hybrid launching style, the CSI 50 Index grading fund, the Shanghai Huaan 50 Index grading fund.

In addition, the public fund accounts are on the way to quantify hedging.

A public official in Shanghai said that such products might have policy implications in the future. Insurance companies allowed investment in futures classes from last year, and they will invest more and more through fund accounts. The company where the public offering staff is also fully prepared.

At present, CICC has only listed two varieties of Shanghai and Shenzhen 300 stock index futures and 5 year treasury bond futures. Among them, investors generally use Shanghai and Shenzhen 300 stock index futures to hedge risks.

As SSE 50 and CSI 500 stock index futures will be traded in April 16th, institutional investors represented by public funds have already been fully prepared for war, and the introduction of related innovative products has clearly won the recognition of many investors.