For veteran hedge fund investor Chua Soon Hock, 2024 was supposed to herald a multi-year rise in Chinese stocks and the opportunity of a lifetime. Instead, his fund’s sudden demise sends a warning to fellow China bulls: stick to your guns at your peril.
Chua’s Asia Genesis Asset Management Pte told investors this week the $330 million fund would close after it was badly burned by wrong-way bets on Japan, and by falling Chinese markets that he largely blamed on inaction by policy makers, including President Xi Jinping.