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Stock impact report

Singapore Hedge Fund APS Says Founder to Step Down as CIO [BNN Bloomberg (Canada)]

JD.com, Inc. - American Depositary Shares (JD) 
Last jd.com, inc. - american depositary shares earnings: 3/2 05:03 am Check Earnings Report
US:NASDAQ Investor Relations: ir.jd.com
Company Research Source: BNN Bloomberg
APS's current Head of Investment Strategy Wang Kangning will become co-CIO and replace Wong within a year, the firm said in a note to clients. The company manages $1.7 billion across all its strategies, according to a spokesman, and Wong said he will continue to manage money, write analysis and conduct research trips to China. The announcement comes four years after APS shifted strategies to become a China-focused fund. The firm has long been known for its contrarian takes on major Chinese companies such as its long-held short view on JD.com Inc. While China helped fuel much of the firm's growth, China-focused funds have struggled over the past 12 months as government policies and shifting domestic demand saw shares of its listed companies sink and soar. APS's flagship All China Alpha Fund is up 0.2% year to date, while the Eurekahedge Greater China Hedge Fund Index was up 1.03% for the first three months of 2024. “Kangning has many of the attributes I like to see in an investo Show less Read more
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