Zhejiang High-Flyer Asset Management, the quantitative hedge fund founded by DeepSeek creator Liang Wenfeng, delivered average returns of nearly 57% in 2025, reinforcing a standout year for China’s systematic managers, according to a report by Business Times.
High-Flyer, which manages more than RMB70bn ($13bn), generated an average return of 56.6% across its funds last year, according to data compiled by consultancy Shenzhen PaiPaiWang Investment & Management. That performance ranked the fir...
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