Man Group China Chief Back From ‘Meetings,’ Denies Police Probe

Updated on
  • Li Yifei said she had meetings, without giving more details
  • Li was previously said to assist probe into market rout

Li Yifei, chairwoman of hedge fund firm Man Group Plc’s China unit, said she is back from a “series of meetings” and a short vacation, denying a report she had assisted a police probe into market volatility.

Li declined to provide further details on the meetings and returned home on Friday, she said in an interview by telephone on Sunday.

Li Yifei

Photographer: Munshi Ahmed/Bloomberg

Li was taken into custody to help with an investigation into market volatility, a person familiar with the matter said on Aug. 31. There is no suggestion she is facing charges or did anything wrong. Chinese authorities imposed limits on wagering against stocks, known as short selling, after a stock-market rout erased $5 trillion of value off the mainland bourse. The campaign against market manipulation has snared senior executives at Citic Securities Co., China’s largest brokerage, as well as a journalist at business magazine Caijing.

Li has led the China business of Man Group, the world’s largest publicly traded hedge fund, since November 2011, according to her profile on LinkedIn. The Asia-Pacific region accounted for almost a fifth of Man Group’s funds under management in the first half of 2015, according to the group’s earnings report.

The meetings attended were “industry meetings,” Li said on the Twitter-like Weibo service Sunday afternoon.

Rosanna Konarzewski, a spokeswoman for Man Group in London, declined to comment.