First China Hedge Fund
Chinese Asset Managers Launch First China Hedge Fund
Hedge funds have been making moves toward working more China, although the government has not provided the most welcoming environment for investment funds. Although there are a number of China-focused funds, two asset managers in China are set to launch the country's first official hedge funds.
Chinese regulators in July eased restrictions on asset managers’ trading of index futures, giving the green light to launch separately-managed account products aimed at high-net-worth investors. The first firm to walk through that new door will be E Fund Management, which plans to launch China’s first officially-registered hedge fund.
E Fund, China’s second-largest asset manager, says its product will be the first institutional hedge fund in China, targeted a China’s growing population of millionaires, which now number nearly a half-milllion. The firm has already applied to the China Securities Regulatory Commission with details about the fund, although the CSRC said it will essentially not regulate hedge funds.
In a statement, E Fund said its new hedge fund will “seek to hedge market risk through stock index futures and other tools.” Source
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