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China education and US AI stocks draw Asian hedge fund attention in Q1

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Shares in Chinese education companies and the stocks of US tech companies expected to benefit from AI systems including ChatGPT, attracted the attention of large Asian hedge funds in the first quarter of the year, according to a report by Reuters.

Shares in Chinese education companies and the stocks of US tech companies expected to benefit from AI systems including ChatGPT, attracted the attention of large Asian hedge funds in the first quarter of the year, according to a report by Reuters.

The report cites regulatory filings as showing that funds piled into private tutoring specialists, including New Oriental and TAL Education, after Chinese authorities lifted an almost two year-long ban on after-school education.

Hong Kong-based Greenwoods Asset Management bought 3.7 million of shares in New Oriental’s US-listed American depositary receipts (ADRs), and also built a new position in TAL Education by acquiring 2.2 million shares.

Singapore-based FengHe, which is run by ex-Alibaba CTO John Wu, also bought TAL stock adding 2.1 million more shares to its holding. 

Analysis by Reuters based on the quarterly 13F filings to the US Securities and Exchange Commission, reveals that Tairen Capital, Dantai Capital, Keystone Investors and CloudAlpha Capital were also among the active buyers of US-listed Chinese education companies in Q1.

Big US tech stocks also proved a popular buy, with Trivest Advisors, acquiring roughly 800,000 shares in Nvidia Corp, to build a new position in the world’s leading designer of computer chips used in creating AI. The Hong Kong-based fund also added Meta Platforms Inc and Microsoft Corp to its portfolio.

Greenwoods, meanwhile, added Nvidia, Microsoft, and Google parent Alphabet Inc shares during the quarter. 

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