Cai Xiangyang, the investment star who beat China’s stock market with his bets on baijiu distillers, dies suddenly at 41
- Cai, who managed 10 funds with a combined US$7.8 billion in assets, died on Monday in Beijing, China Asset said without giving more details
- His flagship US$2.3 billion China AMC Return Securities Investment Fund delivered an annualised return of 14 per cent over the past five years, trouncing most rivals, according to Bloomberg data
A well-known veteran money manager at China Asset Management, one of the country’s biggest mutual-fund firms, has died at the age of 41.
Cai Xiangyang, who managed 10 funds with a combined US$7.8 billion in assets, died on Monday in Beijing, China Asset said in a statement, without giving more details. Cai won six industry awards for stock investments during his 14-year stint at the firm, and the dividends issued by his funds totalled 14.2 billion yuan (US$2.2 billion), it said.
“The board, the management and all the staff express deep condolences on Cai’s passing away,” China Asset said in its statement. “During his 14-year service for the company, his love for the investment cause and his outstanding capabilities have contributed to the improvement of the investment and research system at China Asset.”