Trump upheaval plays into the hands of talent-hungry firms in the growing sector, as many eye markets beyond the mainland
Yuan Yu, founder of Shanghai-based quantitative hedge fund Mingshi, recognised an opportunity when several intern prospects studying in the US said they were struggling to complete their PhDs amid university funding cuts and stricter visa policies under President Donald Trump.
“They told us that their supervisor’s funding had been cut, so they couldn’t continue their studies,” said Yuan, whose investment firm manages US$2.5 billion in assets. “They felt lost and didn’t know what to do. This prompted us to consider extending our internship offers to full-time job offers.”
By seizing the chance to snap up the candidates, Mingshi echoed a larger trend in China’s rapidly evolving quant hedge fund sector. The US upheaval in academia – and the government’s antipathy towards foreign students – is helping such funds secure the brain power that they will need to harness China’s breakthroughs in artificial intelligence (AI) and fuel their expansion beyond the domestic market.
Companies like Mingshi often compete against local rivals and larger, more established global giants for the world’s top scientists and engineers, many of whom would have stayed in the US in the past.
