MC China, a joint venture between Martin Currie and
Heartland Capital, uses its experience of company visits, both
bad and good, to help to determine the shorts as well as the
Most hedge fund managers pride themselves on being road
warriors, and have a rich collection of anecdotes from their
days on the road. Few, though, could have stranger anecdotes
than the managers who spend their trips kicking the tyres of
listed companies in mainland China. With the best part of 30
years' experience working in greater China, Chris Ruffle has
more than his fair share of weird and wonderful experiences
gleaned from investing in Chinese companies.
The MC China team
There was, for example, the time when he visited Inner
Mongolia Mengdian Huaneng Thermal Power Corp, and found his
host having a post-lunch nap stretched out on his desk. Ruffle
woke him up with a polite cough....