China's private funds seek offshore support

The increased aggressiveness of China's authorities in cutting false private funds out of the industry should benefit the industry in the long-run. It could also attract more foreign investor interest. The AUM of the top-20 onshore hedge fund managers represented around 15% of the industry’s Rmb2 trillion in AUM at the end of April, according to Gesafe.  Higher-calibre private fund players are already looking offshore to build contacts and, eventually, assets. Several private fu…