Private Placement Funds Average Return Rate Approaching 7% in First Two Months, Equity Strategy Shines

Private equity funds in 2026 experienced a strong start to the year, delivering impressive overall results. According to Private Equity Ranking Network data, by the end of February 2026, there were 12,270 private equity securities fund products with performance records in the market, with 10,435 achieving positive returns, accounting for 85.04%, and an average return of 6.89%.

Looking at the five core strategies, performance shows distinct differentiation. Stock strategies, as the most actively participated category in the private market, have become the main engine driving overall returns. Data shows that there are 7,881 stock strategy funds with performance records, of which 6,657 achieved positive returns, with a positive return rate of 84.47% and an average return of 7.78%, significantly higher than the market average. This strong performance is partly due to the overall profitability of the A-share market since 2026, creating a favorable environment for stock strategy private funds; additionally, as the first year of the 14th Five-Year Plan, domestic demand policies continued to intensify, industrial upgrading advanced steadily, and sectors such as AI commercialization, Chinese enterprises going global, and resource industry upgrades presented numerous structural opportunities.

Multi-asset strategies demonstrated a “steady progress” in returns, with all performance indicators close to or slightly above the market average. Data shows that there are 1,596 multi-asset strategy funds with performance records, with 1,395 achieving positive returns, a positive return rate of 87.41%, and an average return of 6.88%. In 2026, with structural opportunities across equity, commodities, and bond markets, private multi-asset funds flexibly combined stocks, bonds, commodities, and other assets to seize investment opportunities while effectively reducing portfolio volatility through asset hedging, achieving a good balance of return and risk.

Although fund of funds is the smallest category among the five strategies with only 342 funds, it boasts the highest win rate with a 94.74% positive return rate and an average return of 6.22%. The high success rate of fund of funds stems from its “funds within funds” model, which selects high-quality private funds with different strategies and managers for portfolio diversification, achieving dual risk mitigation.

Futures and derivatives strategies show a “stellar top-tier performance with overall differentiation,” but overall performance is slightly weaker compared to the other strategies. There are 1,357 funds in this category, with 1,095 achieving positive returns, a positive return rate of 80.69%, and an average return of 4.93%. Since 2026, increased volatility in the commodities market has significantly boosted trading activity in futures markets, providing abundant trading opportunities for futures and derivatives private funds. Some products have achieved substantial gains through precise market trend judgment and flexible hedging; however, the high volatility environment also increased trading difficulty, with some products underperforming due to poor market timing and mismanagement of positions, lowering the overall positive return rate.

Bond strategies continued their traditional low-risk, low-return characteristics, becoming a preferred choice for stable allocation in private markets. Data shows there are 1,094 bond strategy funds, with 964 achieving positive returns, a positive return rate of 88.12%, and an average return of 2.45%. Since 2026, the bond market has experienced wide fluctuations, with overall interest rate volatility narrowing, and bond prices lacking strong upward momentum, resulting in generally lower returns. Conversely, credit bonds have performed better than rate bonds, with short- and medium-term credit bonds favored for their low volatility and higher coupons, making coupon strategies attractive for bond market investments. This has provided relatively stable income sources for bond strategy private funds and maintained a high positive return rate.