Investing
Marshall Wace Hedge Fund Warns Chinese ADRs Have Become ‘Uninvestable’
- Hedge fund giant says listings may be confined to mainland
- The $59 billion firm still made money on China bets last month
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For one of the world’s largest hedge funds, U.S.-listed Chinese stocks just aren’t worth the risk anymore.
Paul Marshall, co-founder of $59 billion investment firm Marshall Wace, said China’s crackdown on its technology and education sectors has repelled investors, even if authorities have sought to limit the damage. It’s now more likely that the country’s listings will be largely confined to the mainland, the billionaire predicted.