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Hedge Funds

Chinese Hedge Funds Face Forced Sales As Top Manager Plans Exit

by posted 3years ago 5167 views
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. “We’re preparing to clear all stocks tomorrow when the market opens,” Xinhong Investment’s Chairman Lu Weidong, whose firm oversees less than $3 million in assets, said in an interview Thursday from his base in Dongguan in southern China. “A market like this is hard to rescue.” Many private funds and hedge funds in China have agreements with investors spelling out mandatory liquidation levels if their holdings drop below a certain value....

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