Tuesday, 4 August 2015
Last updated 14 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…