Cederberg Capital, a hedge fund invested in Chinese stocks, has lowered investor fees after its returns continue to suffer by China's reluctance to loosen its COVID policies.
The MSCI China index is down almost a third this year, as China's top leadership body, the Politburo Standing Committee, has stuck to a"dynamic-zero" COVID policy meant to keep a lid on China's death toll. Krige's hedge fund, which has around $1 billion in assets under management, is down about 56 per cent so far this year, according to his letter.He warns that his fund is not for the short-term investor, saying that within the next ten years, the cheap valuations his stocks hold today will wind up being a bargain.
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