NEW YORK : Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report.
"As concerns heightened around geopolitics, Chinese equities were net sold for the first time in a month, driven by risk unwinds with long sales outpacing short covers," Goldman Sachs said, adding investors had sold both offshore and onshore shares. Goldman Sachs compiled data from its clients, which include hedge funds and other big money managers, for the period between April 7 and April 13.
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