Top Fund That Was Right on U.S.-China Trade War Is Boosting Cash

Harvest’s Jiang sees near-term volatility in country’s shares
But the $2 billion manager remains bullish in longer run

Bloomberg’s Stephen Engle reports on Xi’s response to those who think the nation’s opening up is "a joke."(Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Jeanny Yu and Tom Redmond

June 21, 2018 at 7:51 AM UTC

Updated on

June 21, 2018 at 11:42 PM UTC

This article is for subscribers only.

One top fund manager has been shifting to cash since April, worried that trade friction would extend a slump in Chinese stocks.

And so far, Yiqian Jiang, head of China equities at Harvest Global Investments Ltd., has been right to be cautious. The MSCI China Index is down more than 11 percent from a January peak, with losses extending this week as the trade spat between U.S. President Donald Trump and China intensified.