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China’s biggest quant funds beat the market for years, but they didn’t model a key factor the government.

Wang chenUnited statesHong kongColin liangYao qicongHao hongMa zhiyuNingbo lingjunYi huimanLi qiangMinghong stock selection fundNingbo lingjun investment management partnershipGrow investment groupRenaissance technologiesMillennium managementNew york based