(Bloomberg)-Memying in Chinese stocks related to excitement about Deepseek and Unitree robotics increased the return of several hedge and long funds last month.
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Deepseek’s discovery of lower costs, an artificial intelligence model of open code and Unitrere’s exhibition of his robotics technology caught the imagination of the investor. The MSCI China index increased almost 12%in February, and this month he extended the win by 3%, led by stocks that are expected to benefit from wider technology adoption.
“The Chinese section can see a re -evaluation this year,” said Zheng Fang, founder of Hong Kong based in Hong Kong Keywise Capital Management Ltd. “Deepseek and Unitrere have encouraged a re -evaluation of Chinese technology development.”
Keywise’s return and four other companies that have benefited from recovery are listed below.
Triata
China Hedge Fund Triata Capital Ltd. He returned 39% during the month and was assisted by Bullish bets on the shares of AI software and data centers, said the person who knows about the matter.
Sean Ho’s CEO began his career at the Global Susquehanna International Group trading company, and built an initial alternative data system in Hong Kong based in Hong Kong, Tybourne Capital Management Manager before launching his own company.
Using alternative data such as the company’s employment activities, Triata began to buy American depository receipts of the GDS Holdings Ltd. Data Center operator. In the first quarter of 2024, when they traded between $ 5 and $ 6, she said a person with knowledge of the matter, who asked not to identify themselves by discussing private data. The company refused to comment.
The sale of minority stakes last year estimated the international business of GDS at about $ 3.86 according to ADR, which implies that the market has not taken into account much of a potential additional demand from continental Chinese AI software and infrastructure industry, the person said. GDS rose above $ 40 in February.
Triata, with more than $ 1 billion, holds AI software companies, including those involved in cloud computing and converting text into short videos, said that person.
Viridian
The Viridian Asset Management has made about 6% at its best since starting trading in August, buying shares in further offer of Chinese technological companies that have collected capital for the funding of the spread, according to CIO Pascal Gutieres.
In February, Viridian participated in the offer of the shares of Robesense Technology Co., drug detection company, XGLPI Holdings Ltd., Black Sesame International Holding Ltd. and AI Stock Beijing Fourth Paradigm Technology Co.
These offers are usually priced with discounts for overcoming market values, providing opportunities for capital markets such as Viridian to make money when the shares trade higher.
“There is now a market for companies in China who want to raise money, which we haven’t had since 2021,” Gutieres said.
His company oversees $ 130 million and has signed a contract to start managing up to $ 200 million for US investor from later this month, which has put on a course to reach $ 400 million around his one -year -old anniversary, he said.
ASPoon
ASPoon Capital Ltd., who already had investments in Chinese shares related to AI last year, noted that his Hedge Fund received 4.8% of the month, said the person familiar with the question. He announced a return of 58% for 2024, according to December Bulletin.
The company declared a “Chinese Chatgpt moment”, noticing a similarity between accepting the acceptance of Chinese companies to adopt AI and mobile internet 10 years ago, she wrote in her newsletters in December and January.
“We think this rally is more sustainable and it is unlikely that it will be dramatically faded as last October,” she wrote in January, based in Hong Kong, led by Ryan Yin, Alumnus Tiger Pacific Capital. The China MSCI index increased 23%in September, only to fall in the next two months because investors who predicted a brave economic incentive were disappointed.
The company refused to comment through the E -Star.
TICTOK Parent BytedenDan Ltd. and Alibaba Group Holding Ltd. They have been set on the debut new version of their own large language models that are at least as competitive as Deepseekovi, ASPoon said in a letter. Although Deepseek will not be able to bring all the traffic and the attention he has received, two divas have abundant funds for this, starting the fresh AI cost and the cycle of infrastructure as in the USA two years ago, he added. Alibaba increased more than 70% this year in Hong Kong.
Red door
The Gate China Fund, only completed 8%for the month, only completed by Bloomberg. The refund has mostly encouraged the advanced supplies of production and information technology, said the Bloomberg Red Gate Asset Management Co.
Demand for robots will exceed the need for electric vehicles and mobile phones in combination, which could reach the trillion of dollars, said Red Gate’s UE research team. Chinese and international robot manufacturers will gradually begin mass production this year. The team envisages an investment strategy that revolves around the manufacturer and manufacturer of components. Suppliers who can make large quantities at low prices will win.
The excitement of investors due to the supplies of humanoid robotics can be reduced a little in the next quarters, as they realize that market values of connected companies have launched before actual application and order size, the research team said. In the early days, the focus should be on identifying future winners and entrepreneurs and technology behind them instead of evaluating.
In AI space, Wechat application Tencent Holdings Ltd. He conducts tests to integrate Deepseek’s model into his search engine. The Analysis of the Gate’s Red shows that it can be expanded to the functions of e-commerce and lifestyle services.
Alibaba recently announced that he plans to spend more on AI in the next three years than in the past decade, which is a move that “shows a shift in thinking of management,” the team wrote. This “signifies a group of private companies that go from economic winter to active business.”
The Red Gate considers Norges Bank Investment Management as a client, according to data published on the Norwegian Norwegian Norwegian Sovereign Website in the amount of $ 1.8 trillion.
Key
Keywise Ponguin Development Fund has increased 5.9%in February, most of which come from Chinese technological companies.
Keywise, who oversees about $ 2.5 billion, added the existing share of Alibaba shares, leading cloud service providers and Tencent. He also bought multiple shares of Trip.com Group Ltd., which can use AI to improve travel planning and user services, Zheng said.
Xiaomi Corp. and byd Co. They are also well positioned for transformation guided by AI, according to Keywise.
Zheng was the secretary of Rong Yirena, founder of the Chinese conglomerate Citic Group, who later became Vice President of the Republic. Zheng continued to analyze the investments in Rockefeller’s family trust, helped management of the emergence markets in JPMORGAN Asset Management and faced a New York company for the emerging market before setting Keywise in 2006.
About decades ago, Keywise switched from fund manager aimed at China to one focused on mega trends such as New Energy, Electric Vehicle, AI and Robotica. Like the Red Gate triat, Norges is considered a client.
Most investments in Keywise are in American and Chinese sections. His regular comments to clients and potential investors have been a meeting with silence in the last few years, because the appetite for Chinese stocks has sank, Zheng said. That has changed with Deepseek’s AI breakthrough. More than five potential clients have requested meetings, including the assets for the award of USA, the Middle East and Europe, after the last letter to Keywise, Zheng said.
(Updates with Index Performance MSCI China and shows that China Tower on the chart had a reverse stock.)
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