Zhejiang High-Flyer Asset Management, one of China’s top quant hedge fund managers, has apologised to investors following a record slump in performance, according to a report by Bloomberg.
Zhejiang High-Flyer Asset Management, one of China’s top quant hedge fund managers, has apologised to investors following a record slump in performance, according to a report by Bloomberg.
A statement on the firm’s Wechat account on Wednesday said it was ‘deeply guilty’ for the unspecified decline the – biggest in the firm’s history – caused in part by mistimed trades.
High-Flyer managed about CNY90 billion (USD14.1 billion) as of September, making it the largest quant hedge fund in China.
