Greater China’s explosive hedge fund industry, which maintained its stellar performance last month, continues to attract new players.
The latest to join the fray are Jeffrey Deng, who used to head CICC asset management in Hong Kong, and Dennis Ni, who was a portfolio manager at Atlantis Investments, according to Global Investor.
Deng and Ni put up Hedgestone Capital Group, which will be based in the former British colony. Its first fund, Hedgestone China Fund, is set for a July launch, the report said.
Greater China-focused hedge funds recorded a spectacular 25.21% return in the first five months of the year, besting all other Eurekahedge indexes, thanks to the country’s roaring equities market, which climbed to seven-year highs recently.
According to Financial Times, more than 4,000 new Chinese hedge and private equity funds were launched in March-May.
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