(Bloomberg) Criticism from an investor in a Chinese hedge fund has sparked controversy over a key source of income for the 2.3 trillion yuan ($322 billion) industry. An open letter by Michelle Wang to news portal Sina.com in July outlined some unorthodox ways in which many Chinese hedge funds collect performance fees, leaving the Beijing-based lawyer paying up for a money-losing investment. Firms including Shanghai Chongyang Assets Management Co., which manages more than 20 billion yuan, and Shanghai WuSheng Investment Management Partnership have since joined the debate along with hundreds of other users.
Hedge Fund Investors in China Revolt Over Performance Fees
This entry was posted in Syndicated. Bookmark the permalink.
