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Pain and pressure: market turmoil pushes some China funds to the brink

Reuters  |  SHANGHAI 

By Samuel Shen and John RuwitchSHANGHAI (Reuters) - It's already been a harsh year for Chinese funds, hit by new rules aimed at reining in debt in the country's financial system. Now, the sell-off in China stocks induced by trade war anxiety further threatens their health and for some, their survival.Case in point: private fund house Nanjing Hu Yang Investment Co has seen its assets under management halve to 50 million yuan ($7.5 million) over the past year on redemptions and investment losses.Its chairman, Zhang Kaihua, said he is putting his funds, which bet on consumer stocks, into "a ...

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First Published: Mon, July 09 2018. 09:27 IST