Asian hedge funds piled to China education, U.S. AI shares in Q1
Reuters
23-05-16 10:28
Asian hedge funds invested in US-listed stocks of Chinese education companies in Q1 2023 as the sector showed resilience amid challenging market conditions, according to regulatory filings. Greenwoods Asset Management, which is based in Hong Kong, purchased 3.7 million shares of New Oriental's US-listed American depositary receipts and 2.2 million shares of TAL Education. FengHe, headquartered in Singapore, increased its position in TAL and realised profits from New Oriental holdings. The filings also showed investment in the tech industry, particularly US artificial intelligence firms including Nvidia, Meta and Microsoft.