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China to allow hedge funds to raise money and invest overseas

Six hedge fund groups are to be allowed to raise up to USD50m each in China and invest it overseas, according to an unconfirmed report in the 21st Century Business Herald, a local newspaper.

The report said that Chinese regulators had granted six hedge fund groups a combined quota of USD300 million. 

According to the report the groups are Man Group Plc, Winton Capital Management, Oak Tree, Citadel, Och-Ziff Capital Management Group LLC and Canyon Partners. The fund groups are yet to officially confirm or comment on the newspaper report.

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