股市去年12月初以来的反弹行情，搅乱了理财市场原本的格局。一方面， The stock market since early December last year the rallies,Disrupting the financial market the original pattern.On the one hand,私募基金 Private equity fund趁热打铁，密集推出了一系列新产品，相关的投资人也期待借助 Strike while the iron is hot,Intensive launched a series of new products,Relevant investors also look forward to with私募 private产品而分得股指上扬的一杯羹；另一方面，银行理财产品发行明显降温。火了私募基金，冷了银行理财产品，资金的趋利性彰显无疑。 Products and a cup of soup stock share rise;On the other hand,Bank financing products issue clear cooling.Fire the private equity fund,Cold bank financing products,Money is QuLiXing reveal.

　　数据显示，2012年12月份，私募共发行了90只产品，而今年1月私募产品的发行数量也将超过去年同期。不过，在上涨行情中，如何选择合适的私募产品？专业人士建议，尽量选择那些“长跑冠军”，即较长时间内业绩持续向好的、规模较大的公司 Data display,In December, 2012,Private were issued 90 only products,This year January private product release quantity will also be more than the same period last year.but,On the rise in prices,How to choose appropriate private products?Professional personage proposal,Try to choose those"Long-distance running champion",That is a long time performance continued to good/In larger companies

　　⊙记者 赵明超 ○编辑 张亦文

ZhaoMingChao ⊙ reporter zhang aijing ○ editor

　　伴随着去年12月初以来的行情快速反弹，私募基金也抓住机会趁热打铁，在市场情绪和投资者逐渐恢复信心的当下，密集发行新产品。数据显示，2012年12月份，私募共发行了90 只产品，而今年1月私募产品的发行数量也将超过去年同期。

Since early December last year with the market rebound quickly,Private equity funds have seized the opportunity to strike while the iron is hot,In the market sentiment and investors then gradually restore confidence,Close the issue of new products.Data display,In December, 2012,Private were issued 90 Only products,This year January private product release quantity will also be more than the same period last year.

　　阳光私募产品密集发行 Sunshine private products intensive issue

　　统计数据显示，2012年12月份，共有90只私募产品发行，比11月份增加20只；发行总规模为36.29亿元，比11月份增加10亿元以上，几乎是10月份的两倍；截至昨日，今年以来私募发行产品为57只，比去年同期的55只有所增加。

Statistics show,In December, 2012,A total of 90 only private product release,In November than an additional only;Issue the total scale for 3.629 billion yuan,Increase than in November 1 billion yuan of above,Is almost twice as much as in October;As of yesterday,Since this year private issue products for 57 only,Than the same period last year increased 55 only.

　　在发行的私募产品中，权益类产品的数量明显增多，在去年12月份的90只产品中，共有58只股票型私募基金，比去年11月份的38只多出20只；去年12月份发行规模为18.59亿元，是11月份6.9亿元的两倍多。在本月发行的57只私募产品中，有30只为股票型基金，虽然数量比12月份有所减少，但平均发行规模大幅增加，为23.28亿元。

In the issue of private products,Rights and the number of products increased obviously,In December of 90 only products,There are private equity fund and stock type,Than last November and only more than twenty only;December issue size for 1.859 billion yuan,Is November 690 million yuan more than twice.In this month's issue of the 57 only private products,Have 30 for stock fund,Although the quantity ratio decreased in December,But the average issue size increase,For 2.328 billion yuan.

　　在阳光私募产品成立数量上，去年12月份，随着市场好转，与市场行情紧密相关的非结构化阳光私募成立数量大幅增加，当月共成立17只，而去年11月份仅成立5只。在行情继续上涨的1月份，截至1月15日，就有15只产品成立。

In the sunshine was established on the number of private products,In December last year,Along with the market better,And the market closely related unstructured sunshine private number was greatly increased,The month was only a total of 17,But last November was only 5 only.In the market continued to rise in January,By January 15,,There was only 15 products.

　　与权益类产品相对比的是，债券型基金数量的逐步下滑，尤其是1月份以来，发行数量下滑明显。统计数据显示，去年12月份共有29只私募产品发行，比11月份多出1只，但是成立总规模只有17.69亿元，反而比11月份少了1000万元。1月份以来，尽管发行数量仍然多达26只，但是募集规模大幅减少九成以上，发行规模仅有1.29亿元。

And equity products are compared,Bond fund amount of gradually decline,Especially since January,Issue number down significantly.Statistics show,In December last year of 29 only private product release,Than the one in November,But the total scale was only 1.769 billion yuan,But less than 10 million yuan in November.Since January,Despite the number of issued still up to 26 only,But raising scale greatly reduced by more than ninety percent,Issue size only 129 million yuan.

　回暖行情催生 Milder market has

　　私募密集发行产品，与外围环境密集相关。伴随着股市自去年12月初以来的快速反弹，私募趁热打铁密集发行产品，而权益类产品的良好收益也让众多投资者乐于掏腰包。

Private dense issue products,And peripheral environment close correlation.With the stock market since last year the rapid rebound since early December,Private strike while the iron is hot dense issue products,And rights products good income also let many investors willing to dig down.

　　私募排排网研究中心研究员彭晓武表示，“市场好转让投资者信心增加，一般情况下，表现好的阳光私募收益率将大幅超越公募基金，这使得追求绝对收益的投资者会转投私募产品。”

Private row by row and a fellow of the center for the study PengXiaoWu said,"The market good transfer increase investor confidence,generally,Good sunshine private rate of return will greatly surpass public offering fund,This makes the pursuit of absolute income investors will move into the private products."

　　好买基金研究中心的报告显示，随着大盘的节节上升，在进入2013年不到一个月的时间内，就有142只私募产品累计净值创下历史新高。而上次私募业绩大规模创出新高还是在2010年，当时超过6成的私募基金累计净值创出新高。

Good buy fund research center report,With the rising market,In 2013 in less than a month time,There were 142 total net worth only private products, which reached record highs.And the last large-scale private performance record new historical highs or in 2010,When more than 6 into private equity fund net value of total fresh record highs.

　　而私募基金的一些创新也使得投资者充满期待。彭晓武表示，对于各管理人来说，经历了此前两年的调整行情，私募基金对风险的控制更为重视，采用了股指期货等对冲工具来规避风险，降低了由于私募激进操作带来的风险。

And some of the private equity fund innovation also make investors full of expectation.PengXiaoWu said,For the manager for,Through the previous two years of adjustment quotation,Private equity fund risk control more attention,The stock index futures hedging tool to avoid risk,To reduce the risk of private radical operation.

　　在上涨行情中，如何选择合适的私募产品？彭晓武建议，尽量选择较长时间内业绩持续向好的、规模较大的公司，“我们对私募产品的统计表明，业绩在四年以上持续表现不错的产品，大多数是规模较大、研究能力较强的公司，投资者最好选择这些‘长跑冠军’。”（文章来源：上海证券报）

On the rise in prices,How to choose appropriate private products?PengXiaoWu Suggestions,Try to choose a long time performance continued to good/In larger companies,"Our private products statistics show,Performance in four years continue to show good products,Most is larger/Research ability strong company,Investors had better choose these‘Long-distance running champion’."(source:Shanghai stock certificate report)