Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash

//Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash

Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash

The slump in Chinese equities is no buying opportunity for one of the country’s top performing fund managers.“If you buy risk assets now amid this huge market volatility, you’ll easily end up getting buried,” said Lu Jun, founder of private fund Shanghai Congrong Investment Management, which manages US$1.1 billion in assets.Lu, a macro fund manager whose flagship product has returned 31 per cent this year as of the end of February, cut most of his stock positions last month and boosted cash…

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By | 2020-03-23T11:30:27+00:00 March 23rd, 2020|Business|Comments Off on Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash