Hacker News Reader

"Before Deepseek, CEO Liang Wenfeng’s main venture was High-Flyer (幻方), a top 4 Chinese quantitative hedge fund last valued at $8 billion"

Seems wild that a top 4 quant hedge fund is only $8B?

I think that's the value of the fund not AUM. BlackRock has 11trillion of AUM but only 39bn of equity.

幻方's peak AUM was just between $15-$20bn (more than 1e11 CNY but not that much) though.

Chinese stocks are nowhere near American prices.