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How China’s young managers grappled with billion-yuan mandates as AI shocks hit portfolios

How China’s young managers grappled with billion-yuan mandates as AI shocks hit portfolios
South China Morning Post Saturday 15 August 2026, 01:00 UTC By Judy Xue 1 min read
Key Points

As Leopold Aschenbrenner’s US hedge fund saw assets wiped off by more than two-thirds in a single month, some of China’s new portfolio managers also felt the shock across the Pacific, learning bitter lessons early in their careers. The 50-day market turmoil, sparked by a global correction in artificial intelligence stocks in June, turned some of China’s rookie managers into an unwitting focal point. Even seasoned investors faced hard questions from clients as portfolios sagged.

As Leopold Aschenbrenner’s US hedge fund saw assets wiped off by more than two-thirds in a single month, some of China’s new portfolio managers also felt the shock across the Pacific, learning bitter lessons early in their careers. The 50-day market turmoil, sparked by a global correction in artificial intelligence stocks in June, turned some of China’s rookie managers into an unwitting focal point. Even seasoned investors faced hard questions from clients as portfolios sagged. For Yuan Zeqiang,... [Image text:] 785.00 254.05 652.23 5O0 450 400 350 300 250 52.40 63.0 47 HEDGE FUND
China (LOCATION) AI (ORG) Leopold Aschenbrenner’s (PERSON) US (LOCATION) Pacific (LOCATION) Yuan Zeqiang (PERSON)
Originally published by South China Morning Post Read original →

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