High Flyer Responds to Rumors of Management Scale Shrinking to Over 10 Billion Yuan

The scale of High Flyer, a private quantitative institution controlled by DeepSeek founder Liang Wenfeng, has reportedly dropped to the level of tens of billions. The company responded on Friday stating that current scale is over 20 billion yuan.

High Flyer includes two private quantitative funds at the 10 billion level, namely Zhejiang Jiuzhang Assets and Ningbo High Flyer, both of which are effectively controlled by Liang Wenfeng. According to a staff member from the marketing department of High Flyer cited by Chinese media 21st Century Economic Report, although the scale of the company’s management has changed, it is still at the level of more than 20 billion yuan. The staff member also stated that the decrease in scale is due to normal market fluctuations.

High Flyer occupies an important position in the domestic quantitative private equity field. As early as 2019, its management scale had broken through the 10 billion yuan mark, and in 2021 it even reached the 100 billion level. It is worth noting that Zhejiang Jiuzhang Assets and Ningbo High Flyer, under the banner of High Flyer, have performed well in their respective management scales. According to data from the China Fund Association, as of July 31, 2024, the scale of Zhejiang Jiuzhang Assets’ management exceeded 10 billion yuan, managing 65 funds; as of April 26 of last year, the scale of Ningbo High Flyer’s management also exceeded 10 billion yuan, managing as many as 421 funds.

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