New orbit for fund star
Stellar manager Wang Yawei is striking out on his own after years of generating heat and rewards as part of China Asset Management
Wang Yawei is that rare quantity in the mainland markets: a star fund manager.
Given Wang's track record in the roller-coaster equity market, thousands of retail investors would waste no time in snapping up a company's shares if his funds were rumoured to have increased their holdings in the firm.
The mutual funds he managed were perennially among the best-performing funds on the mainland. Investors believe he shares Buffett's gift of being able to sniff out the best investment opportunities at the right time.
The news he would quit the mutual fund industry to set up his own shop in the hedge fund sector grabbed headlines in May last year. Although he has a cult following, Wang never talks to the media and keeps a low profile.
Yet, the major financial websites are rife with speculation about the movements of Wang's funds, with investors trying to figure out how to follow in his trading footsteps.