Assets managed by the Chinese operations of Bridgewater and Two Sigma surged as the US hedge funds outperformed their local peers during the market turbulence of last year.
Bridgewater China Investment Management, the local arm of the world’s largest hedge fund, quadrupled its assets under management to more than Rmb40bn ($5.6bn) at the end of last year from two years ago, while Two Sigma China almost doubled its assets over the same period, according to people close to the companies.
The influx of local investors came as the global hedge funds reported double-digit returns in one of the world’s worst-performing markets while local asset managers struggled to make ends meet.
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