(Reuters) Bridgewater Associates, the world’s largest hedge fund with around $150 billion in assets under management, has set up an investment management unit in Shanghai, according to a Chinese government website filing, signaling that the firm is looking to expand its bets on China.
The move comes as some hedge fund managers around the world including Jim Chanos and Kyle Bass have piled into short trades against Chinese assets, amid fears the country’s overleveraged economy and ballooning bad bank loans are set to derail the world’s second-largest economy.
Bridgewater’s China unit was set up in Shanghai’s Free Trade Zone on March 7, with registered capital of 50 million yuan ($7.67 million), the website of China’s State Administration for Industry & Commerce (SAIC) showed.
