The $65 million Ariose China Group Fund, run by ex-Harvest portfolio manager Xin Yi, delivered one of the strongest performances among long/short equity Greater China-focused funds last year.
Xin Yi adopts a bottom-up approach to selecting stocks. The Beijing-based, Cayman-registered fund, which was launched in April 2011 with $32 million raised mostly from Chinese individual investors, achieved a 38.43% return in the first nine months of its operation. The fund delivered a 3.07% return in December.
It is a remarkable performance given the volatility of markets last year, when many long/short funds focused on China found themselves underperforming