China’s Private Fund Assets Hit Record as Quant Managers Surge

The Asset Management Association of China said Tuesday that 2,348 private funds were registered in April, with combined registered assets of 928.7 billion yuan. Photo: VCG

China’s private fund industry grew to a record 23.5 trillion yuan ($3.5 trillion) at the end of April, as quantitative managers gained market share and the ranks of large firms expanded rapidly, industry data showed.

The figures point to improving fundraising momentum in China’s private securities-investment fund market, the country’s closest equivalent to hedge funds. Investor interest in AI-linked strategies is accelerating a shift toward quantitative products, even as some discretionary equity managers continue to lose assets.