China's `Hedge Fund Brother No.1' Is Now Target of Insider Probe

  • Xu is probed for insider trading and stock manipulation
  • Police raided Xu's office in Shanghai's Lujiazui district

View of the empty Shanghai office of Zexi Investment in Shanghai, China.

Photograph: AP Images

Xu Xiang, who led Zexi Investment’s ascent to the top of China’s money managers, is known in the country as "hedge fund brother No. 1" and inspired both awe and skepticism among peers for his knack of timing swings in volatile stocks.

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