Chinese Hedge Fund Responds to Investor Ire After 34% Loss

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China’s retail investors, who still dominate stock trading volumes, are exerting more pressure on fund managers as the internet gives them greater influence. High net-worth individuals accounted for 43% of assets managed by Chinese private securities funds, the equivalent of hedge funds, as of end of 2020, according to the Asset Management Association of China. That makes them the largest investor group and compares with a share of about 14% in the U.S., according to a report released in September.