China Hedge Fund Pureheart Up 24%

Aug 16 2013 | 11:00am ET

Chinese hedge fund manager Zhao Danyang may be best known for winning an auction to have lunch with Warren Buffett five years ago, but now he's making a name for himself with his returns.

Zhao's Pureheart Capital Asia is up 24% this year, Bloomberg News reports, after a 7% surge last month. The US$217 million firm has more than 80% of its assets invested in Chinese stocks, up from 50% at the beginning of the year.

"There is no doubt that the China stock market is still in a bear market," the Hong Kong-based firm wrote in its July newsletter. "The falling share prices will provide a very good opportunity for us to buy the carefully-selected shares at a bargain."

Pureheart is most optimistic about consumer goods and pharmaceuticals, and plans to cut its investments in Vietnam further. The firm has already exited almost all of its Indian investments.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note