Singapore

IN A brutal year for high-profile hedge fund managers like Bill Ackman and David Einhorn, less famous stock pickers focusing on China stood out for their stellar performance.

China-focused managers betting on rising and falling stocks returned 11 per cent in 2015, outpacing both the Shanghai Composite Index and the gauge of Hong Kong-listed stocks by a wide margin, while US funds narrowly beat benchmarks and European ones trailed, according to Eurekahedge Pte. Stars included Hao Capital Management, with offices in Hong Kong and Shanghai, whose US$268 million hedge fund surged 135 per cent through November.