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2009’s Biggest China Onshore Hedge Fund Winners

This morning I received an email from Benedicte Gravrand, who said one Opalesque Asia analyst had cited my article in this blog, China Hedge Funds Outperformed Rivals in 2009, in the Opalesque publications. At the time I also received plenty of calls and emails from readers asking why several onshore Chinese hedge funds – some of which were up more than 100% - weren’t on the list. Correctly, I just downloaded the performance results from Bloomberg, which only tracked few famous Chinese onshore hedge funds, such as Congrong, Rising and Wisdom, etc. I would like to expand the list to all onshore funds, making our readers to know the whole picture of China onshore hedge fund industry. I suggested those managers who hadn’t be included in my analysis give me a call and put themselves on this blog’s radar.

 

Firstly, we need to told that Chinese onshore hedge fund business, in local parlance, is named as securities investment trust (Sit).

 

As you can see in below table, New Value II fund, Jinlong I fund, and New Value fund are the big winners, up 192.57%, 162.12% and 156.47% (through Dec.), respectively. Two fund shops, Guangdong-based New Value Investment and Shanghai-based Elegant Investment Co Ltd, both had two funds in the top ten players list. A Shanghai-based local investment bank, Orient Securities, also had done well in the absolute return field in last year.

 

The Biggest Winners of 2009 (Top 10)

Funds

Return in 09

Managers

New Value II

192.57%

New Value Investment

Jinlong I

162.12%

Orient Securities

New Value

156.47%

New Value Investment

Energy I

144.59%

Energy Investment Mgmt

Capall I

143.68%

Capall Asset Mgmt

Chaos I

139.53%

Chaos Investment

Shangya IV

139.25%

Elegant Investment

Star of The Sea I

136.71%

Orient Securities

Longwin I

135.24%

Longwin Asset Mgmt

Shangya III

134.46%

Elegant Investment

Date as of Dec 31, 2009

 

 

P.S. If you want to know what is the investment strategy of New Value Investment, I am glad to share the document (PowerPoint, 57 pages)(in Chinese). Just feel free to drop me an email. Let’s enjoy local Chinese managers’ views on global economy and stock picking approach. BTW, I am also writing a report (also in Chinese) named Two Jims’ War, discussing the debates between James Chanos and Jim Rogers on China bubbles.

 



Disclosure: No positions