Business
13:02, 04-Jul-2018
Hedge funds Bridgewater, Winton plan to launch products in China
Updated
12:39, 07-Jul-2018
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China has approved the registration of renowned global hedge fund managers Bridgewater Associates LP and Winton Group Ltd to launch products in the world's second-largest economy.
The Shanghai subsidiaries of Bridgewater and Winton both registered at the Asset Management Association of China (AMAC) on June 29, showed notices posted on the association’s website on Tuesday, paving way for private fund launches in the country.
According to rules, asset managers must launch products within six months of registration.
Their registration comes as China’s stock and currency markets have been roiled by investors spooked by a trade tariffs dispute between the US and Chinese governments.
In overseas markets, Bridgewater and Winton use quantitative strategies that build both long and short positions in various markets to make money. It is not clear what type of products they plan to launch in China.
Allowing such hedge fund managers to launch products at a time of market turmoil highlights China’s commitment to opening up its market.
Bridgewater, the world’s biggest hedge fund firm with 160 billion US dollars worth of assets under management, opened its China unit in 2016. Its billionaire founder, Ray Dalio, toured China earlier this year to promote his book “Principles."
British investment manager Winton has long been active in China. It has been providing advisory services in China through local partnerships and is licensed to help Chinese invest aboard.
Source(s): Reuters