量化对冲基金 HEDGE FUND
德骏资本是上海市虹口金融办和浦东新区金融办引进的首批对冲基金产业园区重点单位，并获得虹口区人民政府连续三年财政补贴。目前主要管理国内大型机构, 包括国信证券、中金公司、广发证券等的种子基金，国内商业银行资金，以及海外和国内家族基金。
DJ Capital is among the first batch of companies that moved into the Hedge Fund Industry Park which was supported by both Shanghai Hongkou District Financial Office and Pudong New District Financial Office, and received the government subsidies for three consecutive years from Hongkou District Government. At present, DJ Capital mainly manages seed fund from domestic large scale financial institutions, including Guosen Securities, CICC, and Guangfa Securities etc.; as well as capital from domestic commercial banks and family office fund both domestic and abroad.
德骏量化团队核心成员曾长期在美国知名金融机构担任投资研究及管理职务，并在回国后担任知名公募基金经理和量化投资业务负责人，在股票、期权、期货等方面具备丰富的投资经验，擅长使用数量化工具进行投资策略的研发, 全程采用程序化交易，并亲身参与了国内多项金融创新的研发与上市。
The core members among the DJ Quant team are equipped with the experiences in investment research and management at top tier financial institution in the United States; and have also run the mutual fund and quant investment business at a top tier domestic financial institution after return to China. The team has extensive investment experiences in stock, options and futures; and is good at using quantitative tools to develop investment strategy thus enabling the full use of program trading.
德骏量化对冲的策略主要包含如下几类：
The DJ Quant Hedge Fund strategy mainly includes:
A) 套利策略：专业套利者总能在资本市场中捕捉到跨市场、跨品种之间的定价错误机会，从而形成套利策略。套利策略适合波动较大的市场，当价差收敛时即止盈，出现损失的概率极低，基本不存在止损。
Arbitrage Strategy: A professional arbitrageur could always find the opportunity rising from cross-market or cross-product mis-pricing in the capital market, and from which to establish his arbitrage strategy. This strategy caters to a more volatile market movement.
B) 股票量化对冲策略：依赖股指期货、期权、融券等金融工具，根据对市场短期走势的判断进行部分对冲或者完全对冲。收益来源一方面通过择时对冲，规避掉市场系统性风险，获取择时收益；另一方面通过量化模型精选多头和空头的个股与行业，获取与大盘走势无关的市场中性收益。策略适合趋势性较强的市场，止盈止损条件依模型而定。
Stocks Quant Hedging Strategy: With financial tools such as stock index futures, options and securities short etc., and based on the judgement on the short-term market movement, to decide on partial hedging or full hedging. This strategy caters to a market with a clear indicative trend.
C) 期权投资策略：期权投资策略较为多样，包括方向性交易、套利交易、波动性交易等。根据策略不一，适合的市场环境和止盈止损条件也不同。
Option Investment Strategy: There are more diversified investment strategies in this category, including directional trading, arbitrage trading, volatility trading etc.; and we adopt different strategy under different market environment.
D) CTA策略 : 核心思想是捕捉趋势，通过趋势指标，判断当前市场趋势，然后顺势建立头寸。包括以日内趋势策略为主及短期趋势策略和长期趋势策略；目前已研发出基于趋势指标策略、基于波动率趋势策略等十多个成熟策略，利用数据分析寻找一定概率下存在的交易模式，其赢利能力与宏观经济 形势、股票和债券等投资工具的业绩走势相关性极小。
The core of CTA Strategy is to capture the trend, that is, to determine the current market trend through trend indicator, and in turn, establish positions; including daily trend strategy, short-term & long-term trend strategy. At present, more than 10 mature strategies have been developed based on trend indicator strategy, fluctuation trend strategy ect; which uses data analysis to identify the transaction mode under certain probability. Neither macro economy nor the performance of investment instruments such as stock and bond has much impact on these strategies.
E) 另类阿尔法策略：另类阿尔法的理论基础是行为金融学。经过研究，金融市场有着明显的另类阿尔法的机会。
The basic theory of Alternative Alfa is Behavioural Finance. Research has proved that the financial market has distinct opportunities for Alternative Alfa.