Hedge fund manager Two Sigma Investments has emerged as a leading investor in China after its equity strategy in the country rose approximately 52% through 30 September, according to a report by Bloomberg. The company's total assets under management in China has reached RMB10bn ($1.4bn). About three-quarters of the new assets directed to China within the past year have been allocated to the equity strategy. The company's Shanghai unit has raised more than RMB1bn for its two onshore projects, adding to RMB9bn total in existing assets. It now puts the New York-based hedge fund in the highest categorisation for assets under management in China. The country's Asset Management Association has a six level system, used to categorise private funds by assets under management, with the RMB10bn threshold reached by Two Sigma being the highest. The firm joins a growing group, with the number of hedge funds above this threshold reportedly rising from 91 at the end of last year to 113 as of the end of October.