"US Hedge Funds Flee China Amidst Crisis and Losses"
U.S.-based hedge funds, including Coatue, D1 Capital, and Tiger Global, reduced their exposure to Chinese companies in the second quarter due to concerns over China's economic prospects and increasing geopolitical tensions. Tiger Global cut its position in JD.com by 12% and Coatue Management slashed its positions in Alibaba, Baidu, JD.com, and other Chinese companies. D1 Capital Partners, Moore Capital Management, and Scion Asset Management also sold their positions in Alibaba. The changes come as hopes for a post-COVID surge in growth deflate and U.S.-China tensions rise, with concerns over China's largest private real estate developer seeking to delay bond payments and President Biden's executive order prohibiting some U.S. technology investments in China. China-focused mutual funds also experienced a net outflow of $674 million in Q2.
- US hedge funds stampede out of China in Q2 Reuters
- US Investors Retreat From China Hedge Funds Bloomberg Television
- China Hedge Funds in Crisis After Losses, US Investor Retreat Bloomberg
- Dalio’s Bridgewater dumps a third of China stocks but loads up on consumer plays South China Morning Post
- U.S. hedge funds dumped shares in Chinese companies in Q2 The Globe and Mail
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