China Private Funds Gain 4.53% in August, Stock Strategy Leads at 5.44%

The dispersion here is the story: stock strategies outran bond strategies by a wide margin, a reminder that these vehicles are taking directional equity risk rather than acting as diversifiers. That the year-to-date average sits only modestly above August's monthly figure suggests the gains are concentrated in recent weeks rather than evenly built through the year. For allocators tracking China exposure, the open question is whether the equity-led leadership persists or whether the narrower bond and futures categories regain ground if sentiment turns.