ML-Implode News - 500 Hedge Funds Launch In China... In Three Months

This stock market frenzy in China has also led to the launch of a slew of new Hedge Funds and private equity funds, In fact, according to a June 14th article in the Financial Times, more than 4000 new Chinese hedge funds have been established just in the last three months and AUM has increased six fold (not Â typo) in the same time period.
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Feng Gang, chairman of private equity firm WinSure Capital, commented the government is encouraging entrepreneurship in the financial industry. He launched his fund four months ago after 14 years in the financial industry, most recently at China International Fund Management, a joint venture with JPMorgan Chase & Co.
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Another key difference in the Chinese hedge fund industry is that western funds are generally the purview of institutional investors, whereas Chinese hedge funds work a good bit more with retail investors, with banks and brokerages serving as key sales channels.

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500 Hedge Funds Launch In China... In Three Months