While his fellow hedge fund managers called China’s equity market a “casino” during Wednesday’s Delivering Alpha Conference in New York, Eton Park’s Eric Mindich had other plans, according to the WSJ.
“Eric Mindich, a former Goldman Sachs Group Inc. partner who now runs hedge fund Eton Park Capital Management L.P., said the Chinese authorities had “plenty of ammunition” to keep the good times rolling.
He said he was buying in particular H-shares, or stakes in Hong Kong-listed companies incorporated in China. “This won’t turn into a major dislocation in the real economy,” Mr. Mindich said.”
Mindich, the youngest to ever make partner at Goldman, echoed recent remarks from his alumni firm, which earlier said that there’s still a lot of upside in investing in China – even going as far as forecasting the CSI 300 to soar nearly 30% over the next 12 months.
While Mindich wasn’t that bullish during the conference, he wasn’t the only one looking for a piece of China according to ValueWalk. Christopher Ailman, CIO of CalSTRS, the largest teacher’s retirement fund in the U.S., was also interested in getting some exposure to the nation:
“China is a real challenge … I want to get some beta exposure to get that GDP, but it’s going to be a real challenge”
Photo credit: slack12 via Flickr