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High-Flyer Asset Management Achieves 56.6% Returns in 2025

1/12/2026

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Summary

Story summary

In 2025, DeepSeek founder Liang Wenfeng's hedge fund High-Flyer Asset Management posted a 56.6% average return, the second-best among Chinese quant funds over 10 billion yuan.
Ningbo Lingjun Investment was the sole fund to outperform High-Flyer Asset Management.
This performance positions High-Flyer to boost funding for DeepSeek, the AI startup owned by Liang Wenfeng.
Chinese quant funds averaged 30.5%, with the number managing over 5 billion yuan rising to 91.

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Story summary

In 2025, DeepSeek founder Liang Wenfeng's hedge fund High-Flyer Asset Management posted a 56.6% average return, the second-best among Chinese quant funds over 10 billion yuan.
Ningbo Lingjun Investment was the sole fund to outperform High-Flyer Asset Management.
This performance positions High-Flyer to boost funding for DeepSeek, the AI startup owned by Liang Wenfeng.
Chinese quant funds averaged 30.5%, with the number managing over 5 billion yuan rising to 91.