China Quant Fund Donates $53 Million as Xi Stresses Philanthropy

A Chinese quantitative hedge fund and an unidentified employee donated 359 million yuan ($53 million) to charity last year, upping its philanthropic efforts as Beijing pushes firms to do more in the name of “common prosperity.”

Zhejiang High-Flyer Asset Management gave 221 million yuan to charitable organizations, while one of its employees nicknamed “an ordinary piggy” donated 138 million yuan, the company said on its Wechat account late Monday. That brought total donations since 2020 to 580 million yuan, according to the company.

China’s top quants have been giving back more after the industry’s combined assets jumped 10-fold in four ...