Top China Hedge Fund Urges Clients to Pull Cash on Trump Risks
- Perseverance Asset cites potential pressure on Chinese exports
- Company insists it remains ‘optimistic’ on market outlook
This article is for subscribers only.
One of China’s largest hedge funds advised some clients to pocket gains as Donald Trump’s return to the White House increases risks to the Asian nation’s economy and markets.
Shanghai-based Perseverance Asset Management, which manages more than 100 billion yuan ($14 billion), suggested that investors in a range of products run by its star fund manager Deng Xiaofeng should consider redeeming, according to a notice sent to distributors seen by Bloomberg. The notice cited positive returns so far and potential risks following the US election result.