Global Hedge Funds Miss Out to China Rivals as Stocks Boom

Global hedge funds seeking to tap China’s $9 trillion wealthy investor market are getting left behind as their local rivals attract the lion’s share of new money amid the biggest stock rally since 2015.

The 28 foreign private fund managers including Bridgewater Associates LP registered 18 new funds this year, fewer than half of last year’s tally, according to data compiled by Shenzhen PaiPaiWang Investment & Management Co. Their combined assets under management grew by about half the 7 billion yuan ($1 billion) increase posted by one of China’s largest quantitative hedge funds alone...