Chinese macro hedge fund manager Shanghai Banxia Investment Management Center has adopted a more positive stance on domestic stocks according to a report by Bloomberg.
Founder Li Bei believes the CSI 500 Index, a benchmark widely tracked by local hedge funds, which lost 24% in the first four months of the year, has past its low-point for the year, and has been rebuilding stock positions as a result.
The CSI 500 Index closed at a two-year low on 26 April but has since gained 14%.
