Some global funds started dipping their toes in Chinese equities We track c800 active foreign funds that include Chinese equities as part of their their benchmark and altogether hold US$270bn of Chinese stocks. In aggregate, these funds cut their China underweight positions by 30bps to -1.3% during 3Q25, the least underweight since 4Q22. Out of these funds, 145 funds (AUM US$212bn) do not hold any Chinese equities as of 3Q25, which has declined from 167 funds in 2Q25. Funds that added Chinese equities back ...