Top Chinese Quant Fund Apologizes to Investors After Recent Struggles

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One of China’s largest managers of quant funds is languishing after a rare bout of underperformance in recent months, which led to an unusual public apology from the firm this week.

High-Flyer Quant, a six-year-old firm started by a trio of young computer scientists who were university classmates, uses artificial-intelligence technology to pick domestic yuan-denominated stocks, design trading algorithms and hedge investment risks. It recently had the equivalent of $9.4 billion in assets under management, according to its website. The firm grew rapidly by producing returns that in some cases were 20 to 50 percentage points more than stock-market benchmarks in the last few years, according to a pitch it sent to clients.

Top Chinese Quant Fund Apologizes to Investors After Recent Struggles Source link Top Chinese Quant Fund Apologizes to Investors After Recent Struggles

The post Top Chinese Quant Fund Apologizes to Investors After Recent Struggles appeared first on Eminetra.

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