Oct 14, 2021

14 Oct 2021, 3:41 PM IST 14 Oct 2021, 3:26 PM IST 14 Oct 2021, 3:41 PM IST Save (Bloomberg) -- Quant hedge fund firm Aspect Capital is raising money for a strategy that offers foreign clients access to Chinese markets at a time many of its peers are backing away from the country. (Bloomberg) -- Quant hedge fund firm Aspect Capital is raising money for a strategy that offers foreign clients access to Chinese markets at a time many of its peers are backing away from the country. The $9.3 billion London-based money manager started trading for an algorithm-driven fund this week, betting on China’s markets for obscure and unique tradable assets such as eggs, liquid glass and hot-rolled coil. The fund launched with $100 million in seed capital and is in talks with clients to raise more money, Chief Executive Officer Anthony Todd said in an interview. It can manage as much as $1.5 billion. The move comes in the wake of Beijing’s sweeping anti-monopoly probes against Big Tech, cybersecurity reviews for foreign listings and a decision to ban profits in after-school tutoring companies, which sent shock waves through global financial markets. Representatives of Man Group Plc, Soros Fund Management and Elliott Management raised concerns about the outlook for Chinese stocks traded in New York and Asia last week. “We completely acknowledge and completely understand that the Chinese authorities are very concerned about excess speculation,” Todd said. “But authorities are very keen to open up the markets and want to ensure that they do that in a very conservative and methodical fashion.”