(Bloomberg) China’s hedge fund managers, including some of the best performers during last year’s rout, are turning bullish on stocks as the nation’s shares remain resilient after Britain’s vote to leave the European Union.
About 76 percent of funds planned to add stock holdings this month, a jump from 50 percent in June, according to surveys by Shenzhen Rongzhi Investment Consultant Co., which tracks Chinese hedge funds. The benchmark gauge has climbed since MSCI Inc. rejected the inclusion of China’s A shares into its indexes for a third time in mid-June, and quickly recovered from the U.K.’s shock decision to leave the EU. The managers also cited attractive valuations as the market has slumped more than 40 percent from a 2015 peak.
