Liang Wenfeng’s Matrix Quantization 7月 sees a full-scale plunge—nine products all drop by more than 20%
Matrix Quantization under Liang Wenfeng suffered a sharp pullback in July. According to nine products publicly displayed by Private Fund Ranking Network, all of their net values fell by more than 20% in the month. The worst decline was Matrix CSI 500 Quantitative Aggressive No. 1, down 22.15% in the month. As of July 31, only one product managed to preserve a small year-to-date positive return of 0.04%, while the other eight all turned to losses.
This time, it wasn’t just Matrix that “crashed.” From July 13 to 17, the CSI 500 index fell by about 11.7% over the week, while the CSI 1000 and CSI 2000 each dropped by more than 12%. In the same period, all 10 Matrix quantitative long-only products fell by more than 15% over the week. Major institutions such as Mingshi, Fangfang, Jiukun, and Mingrun also retreated in tandem.
Industry commentary points to overcrowding in tech growth stocks and high-momentum strategies. After the market style abruptly flipped, similar strategies concentrated their rebalancing; factors that had previously driven profits quickly became sources of losses. In the first half of this year, among 1,236 index-enhanced products, the average excess return was only 3.11%, compared with 14.17% in the same period last year. $SOL
Matrix Quantization under Liang Wenfeng suffered a sharp pullback in July. According to nine products publicly displayed by Private Fund Ranking Network, all of their net values fell by more than 20% in the month. The worst decline was Matrix CSI 500 Quantitative Aggressive No. 1, down 22.15% in the month. As of July 31, only one product managed to preserve a small year-to-date positive return of 0.04%, while the other eight all turned to losses.
This time, it wasn’t just Matrix that “crashed.” From July 13 to 17, the CSI 500 index fell by about 11.7% over the week, while the CSI 1000 and CSI 2000 each dropped by more than 12%. In the same period, all 10 Matrix quantitative long-only products fell by more than 15% over the week. Major institutions such as Mingshi, Fangfang, Jiukun, and Mingrun also retreated in tandem.
Industry commentary points to overcrowding in tech growth stocks and high-momentum strategies. After the market style abruptly flipped, similar strategies concentrated their rebalancing; factors that had previously driven profits quickly became sources of losses. In the first half of this year, among 1,236 index-enhanced products, the average excess return was only 3.11%, compared with 14.17% in the same period last year. $SOL