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These same funds averaged a 0.58% decline in 2021, according to the HSBC data seen by Reuters. HSBC follows eight funds which take long and short positions in Chinese equities. This year, three hit HSBC's global list of the bottom 20 hedge fund performances for the week ending Nov. 4. Net selling of Chinese equities by international active funds totalled around $30 billion over the past year and global hedge fund allocations in Chinese equities have declined from 15% at the 2020 peak to 8% now, Goldman Sachs estimates. HFR, another company which tracks hedge fund performance but does not disclose the constituents of its indices, said its index of Chinese hedge funds was down 27% so far this year.

Chinese equities make up 31% of the MSCI Emerging Market index (.MIEF00000PUS), a popular stock index that many funds track and benchmark their performances against. Fund research firm Morningstar tracks nine new emerging market ex-China equity mutual funds and exchange-traded funds (ETFs) that were created this year, matching the number of launches in total over the previous two years. If Aubrey was to remove China from its emerging market strategy, the Indian market would take a significant portion, while the rest will be spread around other countries including Vietnam, Brazil and Mexico, he said. OUTFLOWSAndrew McCaffery, Fidelity International's global chief investment officer, said they have received increased requests from clients for emerging markets excluding China strategies, although the purpose was to “break China out as an allocation separately within global portfolios”. “The challenge is that they (global investors) are not going to be quick to add back in,” he said.

☆ China is no longer just any emerging market — it has become its own beast
▼ + stars: | 2022-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China is no longer just another emerging market play. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. So far, she said, the number of clients excluding China isn't "overwhelming," and by metrics such as per capita GDP the country remains an emerging market. An internal party committee, or office, gathers together a company's employees who are members of the Communist Party of China.

☆ Macro bets help hedge funds ride rough Chinese markets
▼ + stars: | 2022-10-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, Oct 11 (Reuters) - The hedge funds that have managed to weather and outperform China's bumpy stock markets so far this year say betting on big-picture macroeconomic changes have helped them. One such fund is Stanley Tao's $230 million Golden Nest Greater China Fund. The hedge fund posted approximately a 2.4% net return for September, according to internal estimates, and is down 1.2% for the first nine months. That compares with MSCI China's (.dMICN00000PUS) roughly 30% decline in the nine months to September, marking the worst first nine months since 2008. Macro strategies are the biggest winners this year, with hedge funds cashing in on the volatility spawned by the differing pace of global rate rises and regulatory changes -- seizing opportunities that didn't exist during a decade of uniform easy monetary policies everywhere.

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