Reuters reports Guotai Junan Securities plans to launch a market neutral hedge fund, registered with the CSRC, with 300 million yuan under management. The fund, according to President Zhang Biao, will use index futures as a hedging tool.
Zhang Biao says the fund will target 10-15% annual returns and would like to model themselves much like Renaissance Technologies.
No word on E Fund’s launch of China’s other first official hedge fund we reported on in November 2010.
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