Chinese private fund assets hit a staggering $1.63 trillion
Summary
Chinas private fund industry is growing rapidly as the countrys wealthy increasingly turn toward money managers. "With the introduction of shortselling of China equity markets and favorable regulation being released over recent years, Preqin expects to see the number of funds launching within China continue to increase in the coming years," Ross Ford, head of hedge funds and real assets research at Preqin, said in an email to CNBC. More from Global Investing Hot Spots: Chinese traders race to become a growing force in global copper trading markets Next stop in the cryptocurrency craze: A government-backed coin French President Emmanuel Macron wants France to become start-up nation A major factor in the growth of Chinas funds this year is the strong performance in some of the local markets. "Most Chinese hedge funds are focusing on the unique trading opportunities in mainland markets," Ken Heinz, president of HFR, said in an email to CNBC. The industry is still in the early stages of expanding overseas, "but private funds in China are on the precipice of moving into global investment on behalf of their clients," Grinderslev said.