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Komfie Manalo, Opalesque Asia: China-focused hedge funds reporting to HSBC’s weekly ranking outperformed YTD despite the drop in Chinese equities since June 12, reports Valuewalk.
The $76 million Quam China Focus fund was the best performer on the HSBC list, gaining 34.92% through July 3, after losing 10% in June.
The $1 billion Segantii Asia-Pacific Equity Multi-Strategy Fund, and was up 29.12% YTDupthrough to 3rd July.
George Jiang’s $2.125 billion Golden China Fund is in fifth place up 22.87%YTD, after losing 3.8% in July.
Shawn Kang’s Lighthorse China Growth Fund was up 21.05% YTD after losing -5.90% in June.
The $226 million Zeal China Fund lost 4.18% through July 3 and is up 14.26% YTD.
By the middle of last week, China's benchmark Shanghai Composite Index had tumbled by over 30% since its highs of June.
Many hedge fund managers were caught off guard when China’s stock rally suddenly ran out of steam, says NYPost. But Beijing took drastic measures to prop up the market.
Mostanalysts agree that the only thing keeping markets stable is Beijing's intervention. And as a result, most fear a further collapse if the stabilising measures are withdrawn, reports ...................... To view our full article Click here
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