Poor staff behaviour towards rival firms has prompted Chinese regulators to ban one of the country’s top quant funds – Shanghai Minghong Investment Management Co – from launching new investment products, according to a report by Bloomberg.
The three-month ban against registering new products comes as regulators tighten their oversight of the country’s hedge fund sector amidst intensifying competition.
The report cites a notice on the Asset Management Association of China’s website as confirming the ban, after the association publicly condemned the fund for negative social media comments written by two employees about rival firms.
Minghong was founded by Millennium alumnus Qiu Huiming,
