China’s Star Fund Manager under Investigation, Sources Say

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.