Earliest Implementation: 2013
Systematic, long and short investing across a diverse set of liquid futures contracts on Chinese exchanges, using the same data-driven framework Millburn applies globally—calibrated for local market dynamics.
Interest Rates
Chinese government bond futures reflect domestic monetary policy and economic conditions.
Stock Indices
Onshore equity index futures provide broad exposure to Chinese equity market movements.
Agriculture
Grains, oilseeds, and soft commodities traded on Chinese exchanges, many of which have no direct international proxy.
Energy
Crude oil, fuel oil, and related contracts are tied to China's domestic energy consumption and production.
Industrials
Metals, chemicals, plastics, glass, and other industrial commodities that reflect the scale and breadth of China's manufacturing economy.
Earliest Implementation: 2024
China's A-shares market is one of the largest in the world by number of listed companies, but remains lightly covered by international analysts relative to its size—an environment that can result in higher-than-typical levels of inefficiency.
Industrials & Materials
Manufacturing, construction, chemicals, and basic materials—sectors that reflect the scale and evolution of China's industrial economy.
Technology & Communication
Hardware, software, semiconductors, and telecommunications are areas where rapid domestic growth and increasing global competitiveness are anticipated.
Consumer & Healthcare
Consumer goods, retail, food and beverage, and healthcare—driven by the spending patterns and demographic shifts of the world's second-largest population.
Financials & Real Estate
Banks, insurance, securities firms, and property—sectors that are shaped by domestic policy and China's unique credit and regulatory environment.
Energy & Utilities
Traditional and renewable energy, power generation, and infrastructure—reflecting China's position as the world's largest energy consumer and its accelerating transition to clean energy.
Together, these capabilities give investors access to both sides of the onshore Chinese markets. This diversified approach to China is a core component of the Millburn Alloy Program, our multi-strategy solution. For many investors, Alloy provides an efficient way to gain exposure to Chinese markets as a complement to Millburn's other strategies.
Investors with a specific interest in dedicated China exposure—including the equity strategy—are encouraged to contact us directly to discuss available options.