China Hedge Fund Using AI to Invest Eyes $1 Billion in Assets
- Shanghai MingShi uses artificial intelligence to find trades
- Hedge fund firm says it’s raised $600 million since March
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A Chinese hedge fund using artificial intelligence to invest in the nation’s stock market expects to exceed $1 billion in assets on growing demand for quantitative investment strategies.
Shanghai MingShi Investment Management has raised $600 million offshore since March and is targeting at least another $400 million in the next few months as current investors ramp up allocations, said Stephan Zhou, a partner at the company. That’s despite the fact that due diligence has become more difficult because of the pandemic, he added.