One of China’s largest managers of quant funds is languishing after a rare bout of underperformance in recent months, which led to an unusual public apology from the firm this week.
High-Flyer Quant, a six-year-old firm started by a trio of young computer scientists who were university classmates, uses artificial-intelligence technology to pick domestic yuan-denominated stocks, design trading algorithms and hedge investment risks. It recently had the equivalent of $9.4 billion in assets under management, according to its website.
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