Mingshi-Affiliated Jupiter Fund Drops Over 40% in July Amid AI Sell-Off

Jupiter Research Capital, linked to Mingshi Investment, saw net value fall over 40% in three weeks due to AI sector volatility. The market-neutral fund faces pressure from momentum reversals.

Woofun AI reports that Jupiter Research Capital, a quantitative firm affiliated with Mingshi Investment, experienced a net value decline exceeding 40% during the first three weeks of July. Data indicates losses began at under 7.5% in early July before widening to approximately 43% by July 24. The fund, which utilized a market-neutral strategy with 2-4x leverage and managed roughly $186 million earlier this year, faced headwinds as global AI supply chain stocks retreated on sustainability concerns. Goldman Sachs described the situation as a "quantitative earthquake" in the Chinese market, where momentum strategy reversals triggered unwinding pressure on AI and small-cap positions.