Hedge funds turn bullish as China weathers slower growth, Brexit vote

Hong Kong

SPRINGS China Opportunities Fund and Counterpoint Asian Macro Fund join a growing group of hedge funds turning bullish on Chinese shares, which have remained robust even amid a slowing economy and market shocks from Britain's vote to leave the European Union.

"Ironically, China began to look like an island of stability in this maelstrom," Geoffrey Barker, a former HSBC Holdings plc economist who manages the Counterpoint fund with City Financial Investment Company (Hong Kong), wrote in his most recent investor letter. The Counterpoint fund, a global macro strategy that managed US$78 million as at July 1, rose 0.2 per cent in June and was down 4.9 per cent in the first half of the year, according to the letter.