Shanghai Banxia Investment Management Center, one of China's top performing macro hedge funds, has reduced its exposure to domestic stocks to xero, according to a report by Bloomberg.

Shanghai Banxia Investment Management Center, one of China's top performing macro hedge funds, has reduced its exposure to domestic stocks to zero, according to a report by Bloomberg.

The move, which has also seen the $785 million fund closed partially all of its shoer commodities positions, is said to be a direct result of market volatility due to Ciovid outbreaks and Russia's invasion of neighbouring Ukraine.