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Hedge Funds Got Windfall From Runaway China Stock Rally in April

China’s runaway stock rally delivered a windfall for hedge funds focused on the world’s second-largest economy in April.

Greenwoods Asset Management’s $1.8 billion Golden China Fund returned an estimated 18 percent during the month, while Rays Capital Partners’ $192 million Asian Equity Special Opportunities Portfolio was up almost 19 percent. The Zeal China Fund ended the month 12.5 percent higher. Sumeru Capital Fund, which has less than $50 million of assets, returned 20 percent.