Hedge fund giant Bridgewater misses out on stock market bull run, ditching Chinese stocks in first quarter

Bridgewater Associates, the world’s biggest hedge fund, pulled back drastically from Chinese stocks again last quarter, slashing its investment by nearly 90 per cent from a peak two years ago. The move may have been too hasty and caused it to miss out on the recent bull run.

The Connecticut-based firm cut its stakes in nearly all the US-listed Chinese stocks it holds, including Pinduoduo, Yum China, and Trip.com, by 31 to 78 per cent in the first three months of this year, according to its latest 13F filing with the US Securities and Exchange Commission (SEC) on Tuesday. Bridgewater completely divested from Lufax, one of China’s largest online wealth management platforms.

Source: REUTER