Top Chinese macro fund hoarding cash

China’s stock market has been more resilient to the volatility upending global asset prices - it’s the only one among the world’s 20 largest that is not in a bear market.

SHANGHAI: The recent slump in Chinese equities is no buying opportunity for one of the nation’s top performing fund managers.

“If you buy risk assets now amid this huge market volatility, you’ll easily end up getting buried, ” said Lu Jun, founder of private fund Shanghai Congrong Investment Management Co, which manages US$1.1bil in assets.