Shenzhen Huaan Hexin was buying Hong Kong-listed mainland technology stocks after a sharp October 2024 pullback, Bloomberg reported. The report said its Huaan Hexin Stable flagship fund had gained 825% since inception seven years earlier—a cumulative figure rounded to 800% in the original headline, not an annual return.
Which fund was reported to be up 800%?
Bloomberg’s October 11, 2024 report identified the manager as Shenzhen Huaan Hexin Private Investment Fund Management. Its flagship, Huaan Hexin Stable, had a reported cumulative return of 825% since inception seven years earlier, based on data compiled by PaiPaiWang and cited by Bloomberg. That is a cumulative, historical return—not an annualized rate. The sources reviewed do not establish that the figure was independently audited.
Bloomberg also reported that the firm managed about 6 billion yuan at the time. Neither that asset figure nor the performance report establishes the fund’s current assets, returns, availability to investors, or portfolio.
What happened to Chinese tech stocks in October 2024?
After government stimulus announcements helped lift Chinese technology shares, the Hang Seng Tech Index had risen more than 50% from mid-September, Bloomberg reported. It then fell 14% over the two days through October 9, 2024. Bloomberg described Huaan Hexin’s buying as following that sharp pullback.
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The timing matters: these figures describe a volatile stretch in 2024, not the index’s present performance or the fund’s current activity.
What did Huaan Hexin buy?
Bloomberg reported that the long-only manager was adding Hong Kong-listed mainland technology stocks and had substantial exposure to that market. The article did not publish a full portfolio list. Founder and fund manager Yuan Wei named Tencent, Alibaba, and Meituan as examples he considered potential “safe havens”; Bloomberg’s report does not establish that the fund held each of those companies at the time.
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Why did the manager see the dip as an opportunity?
Yuan said he viewed the correction as a buying opportunity and considered the stocks extremely cheap relative to fundamentals. That was his investment view at the time, not an objective valuation finding or a current recommendation. Bloomberg also reported his view that company profitability had reached an inflection point and that business conditions could counter pressure from a slowing economy.
The fund’s reported performance figures capture different periods: Bloomberg said Huaan Hexin Stable gained 35% in the final week of September 2024 and was up 60% year to date as of September 30, 2024. Bloomberg attributed the late-September result in part to internet stocks, including Meituan. Those short-period returns do not by themselves explain the seven-year cumulative result.
How to interpret the reported 825% return
The headline figure is striking, but it should be read with its attribution and limits attached. Bloomberg reported the 825% cumulative return using PaiPaiWang data; the sources reviewed do not include a separate official audited performance statement. The available reports also do not give enough information to assess the full portfolio, investor eligibility, liquidity, fees, or how returns would compare with another fund on a consistent basis.
Bloomberg’s original report was published in Japanese on October 11, 2024. The English-language TheFinServ summary appeared the same day and identifies Bloomberg as its source. Its currency conversion is not needed to understand the yuan-denominated asset figure and should not be treated as a current conversion. These accounts document a historical market event, not a live fund update.
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