High-Flyer ranks among China’s top hedge funds
Hangzhou-based High-Flyer Quant, co-owned by DeepSeek founder Liang Wenfeng, ranked second among China’s 10 top-performing large hedge-fund firms in 2025, posting an impressive 56.6% return, according to Shenzhen PaiPaiWang Investment & Management.
The fund, which manages over 10 billion yuan (US$1.43 billion) through 10 index funds under Ningbo High-Flyer Quant Investment Management Partnership, trailed only Lingjun Investment, which achieved a 73.5% return last year, News.Az reports, citing SCMP.
All top-performing firms were quantitative hedge funds, highlighting the growing popularity in China of using advanced mathematical models and automated algorithms for investment decisions.
Smaller funds also posted strong results, with Shanghai-based Hengshui Asset Management returning 239% and Zhihe Asset Management yielding 108% in 2025.
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