Aspect Capital is broadening international access to its China-focused systematic trading programme, making one of its futures strategies available to global investors for the first time amid growing demand for diversification beyond traditional equity markets, according to a report by Bloomberg.
The London-based hedge fund manager, which oversees around $9bn in assets, began offering its China absolute return systematic futures strategy to offshore investors in early April. Previously limited to mainland participants since 2019, the strategy trades across 65 Chinese futures markets and currently manages roughly $550m.
The move comes as institutional investors increasingly reassess their exposure to China and seek more diversified sources of return amid rising geopolitical fragmentation and shifting global trade dynamics. Allocators are also looking for alternatives to equity-heavy China portfolios, with greater interest in macro and commodity-linked strategies.
Aspect highlighted structural shifts in the global economy, including de-globalisation trends and rising energy insecurity, as key factors shaping investor behaviour. The firm also pointed to the growing intersection between commodity markets, electrification, and demand driven by technologies such as artificial intelligence.
The strategy combines multiple systematic approaches, with trend-following models accounting for just under a third of the portfolio, alongside macro, technical, and fundamentals-based signals. It focuses primarily on Chinese commodity futures as well as selected equity index and bond futures.
The programme has delivered consistent performance since inception in 2019, generating positive returns each year, including double-digit gains in several periods. The long-term annualised return has been reported at approximately 11.5% through March 2026, according to the firm.
China’s futures markets play a central role in the strategy, offering exposure to commodities that are often highly liquid domestically but less accessible internationally. These include industrial inputs such as urea, potash, silicon manganese, polyethylene and glass, which are closely linked to sectors including manufacturing, construction and technology supply chains.
Aspect Capital said the strategy draws on research from its London-based team and is supported by long-standing expertise in systematic trading across global markets. The firm added that its China operations have been active since 2016 and include both onshore and offshore structures.
Under current capacity assumptions, the strategy could accommodate up to $1.5bn in total assets across both domestic and international investors, reflecting continued appetite for systematic macro and commodity-driven approaches within global hedge fund portfolios.
