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Bloomberg
Hedge funds betting on Chinese equities surged last year, standouts in an industry that struggled to outsmart the longest-running bull market in history.
A number of funds focused on mainland stocks posted double-digit returns in 2019, according to people familiar with the matter and investor letters seen by Bloomberg. Star performers included Greenwoods Asset Management’s $2.2 billion Golden China Fund, which surged 47.3%, and Orchid Asia Group Management Ltd.’s China Master Fund, which gained 32.2%.
Easing US-China trade tensions helped the Shanghai and Shenzhen stock indexes post double-digit returns last year. That boosted hedge funds focused on Greater China, which jumped 18% on average, according to data provider Eurekahedge. That compared with a gain of about 9% for their global peers.