China Equity Funds Lose $1 Trillion as Market Slump Persists
- 90% of China's equity funds lost money in 2023, with nearly $1 trillion in value erased
- Only 11% of funds delivered positive returns as China’s stock market faces worst losing streak in 32 years
- Investor sentiment depressed by economic malaise, property crisis, lack of stimulus
- Bets on "new energy" stocks backfired for many fund managers
- Global equity funds with investments outside China were top performers