China’s biggest fund manager curtailed stocks exposure in second quarter as hedge against lofty valuations

//China’s biggest fund manager curtailed stocks exposure in second quarter as hedge against lofty valuations

China’s biggest fund manager curtailed stocks exposure in second quarter as hedge against lofty valuations

China’s biggest mutual fund manager cut equity holdings in the second quarter of this year to stave off risks stemming from elevated valuations that complicate investors’ stock picks and temper expected returns.Zhang Kun, whose 134.5 billion yuan (US$20.7 billion) in assets under management outrank any other domestic money manager in China, lowered positions in each of his four funds, according to the funds’ quarterly reports. He made the most aggressive cut in a fund focusing on smaller…

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By | 2021-07-20T08:00:14+00:00 July 20th, 2021|Business|Comments Off on China’s biggest fund manager curtailed stocks exposure in second quarter as hedge against lofty valuations