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25-04-2022, 12:49 PM
LOL ... The commie wumaos are still in denial about the collapse of China economy
https://www.straitstimes.com/business/co...-than-2008
Hedge fund cuts China stock exposure to zero seeing worse year than 2008
BEIJING (BLOOMBERG) - As China's markets gyrate following Covid-19 outbreaks and Russia's invasion of Ukraine, one of the nation's best-performing macro hedge funds is bracing for more pain.
Shanghai Banxia Investment Management Centre, which topped local rankings in 2020, has cut its stock exposure to zero in anticipation of a worsening economy and further declines in equities, founder Li Bei said. The fund, which manages more than five billion yuan (S$1.06 billion), has also closed almost all short positions in commodities after rising prices led to losses.
This year "could be even worse for fund managers than 2008", when, even during the global financial crisis, holding government bonds could still be a winning strategy, Ms Li said in an interview this month. "It's now very difficult to find a place where they can make money."
Unpredictable events like the war in Ukraine and the rapid spread of the Omicron variant have blindsided China's money managers best trained to capture opportunities across asset classes. Macro funds, which often trade in equity, bond and commodity markets, averaged a 7.4 per cent loss in the first quarter, the worst performance among eight hedge fund strategies, according to Shenzhen PaiPaiWang Investment & Management.
DH Fund Management, a macro fund managing more than 10 billion yuan, apologised to investors and cut management fees this month after steep losses.
https://www.straitstimes.com/business/co...-than-2008
Hedge fund cuts China stock exposure to zero seeing worse year than 2008
BEIJING (BLOOMBERG) - As China's markets gyrate following Covid-19 outbreaks and Russia's invasion of Ukraine, one of the nation's best-performing macro hedge funds is bracing for more pain.
Shanghai Banxia Investment Management Centre, which topped local rankings in 2020, has cut its stock exposure to zero in anticipation of a worsening economy and further declines in equities, founder Li Bei said. The fund, which manages more than five billion yuan (S$1.06 billion), has also closed almost all short positions in commodities after rising prices led to losses.
This year "could be even worse for fund managers than 2008", when, even during the global financial crisis, holding government bonds could still be a winning strategy, Ms Li said in an interview this month. "It's now very difficult to find a place where they can make money."
Unpredictable events like the war in Ukraine and the rapid spread of the Omicron variant have blindsided China's money managers best trained to capture opportunities across asset classes. Macro funds, which often trade in equity, bond and commodity markets, averaged a 7.4 per cent loss in the first quarter, the worst performance among eight hedge fund strategies, according to Shenzhen PaiPaiWang Investment & Management.
DH Fund Management, a macro fund managing more than 10 billion yuan, apologised to investors and cut management fees this month after steep losses.
