China’s Star Fund Manager under Investigation, Sources Say

founder of Qianhe is at the center of an insider trading probe and is said to have stepped back from his company for personal reasons

Wang Yawei

Wang Yawei, one of China’s most prominent fund managers and founder of Qianhe Capital Management Co. Ltd., is facing investigation for violations including insider trading, sources with knowledge told Caixin.

Wang has stepped back from Qianhe’s daily operations due to personal reasons, the private fund manager said in a Saturday statement. Without elaboration, Qianhe said its management team will ensure normal operations of the firm, and it has ample liquidity. The company has almost completed a redemption of funds, it said.

Founded by Wang in 2012, Qianhe has more than 20 products under management with total assets ranging between 5 billion yuan to 10 billion yuan ($695 million to $1.4 billion), according to records published by the Asset Management Association of China.