Private fund tracker data show Banxia Steady Mixed Macro Hedge Fund fell 15.03%
over June 15-18 (four trading days); unit NAV dropped from 6.594 on June 12 to
5.603 on June 18, the largest weekly fall since the fund’s launch. The product
also lost 10.18% during May 15-18 and is down more than 27% month-to-date as of
June 18. Manager Li Bei said the fund’s risk framework remains strict, that the
team reduced positions daily last week according to a risk budget and now has
limited remaining exposure to further losses, and rejected direct comparisons
with other higher-volatility products.
