China hedge funds suffer in debt crackdown

Bear market in bonds adds to woes as banks withdraw funds. China’s crackdown on debt has slammed the country’s nascent hedge fund industry, as a bear market in bonds prompts banks to withdraw funds they had parked with external bond managers, cutting a key source of funds. Hedge funds barely existed in China five years ago, at least not formally, though a small group of … http://on.ft.com/2oVwPBl

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