Star China Fund Manager Falls Prey to This Year’s Worst Trades
- E Fund Asia Select down 29% since February, among worst QDIIs
- Tencent, JD.com, education plays among fund’s major holdings
This article is for subscribers only.
One of last year’s hottest Chinese stock fund managers has turned into one of this year’s worst, as bets on the nation’s technology and education plays soured amid regulatory crackdowns.
E Fund Asia Select, a Qualified Domestic Institutional Investor equity fund, is down 29% from a February peak, ranking near the bottom among funds of its type in the past six months, according to data from financial website East Money Information Co. Its units are trading near the lowest level in a year, while most of its equity-focused peers have started to rebound from recent weakness.