Exclusive-Star Chinese fund manager Wang detained and under investigation -sources

Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources with knowledge of the matter.

The 52-year-old founder of Qianhe Capital Management in Shenzhen and Top Ace Asset Management in Hong Kong is the latest high-profile Chinese business executive to be investigated or detained.

His case relates to an investigation into Zhu Congjiu, a former senior official at China’s top securities regulator, the sources said. Attempts to reach Wang have been unsuccessful for several weeks, said two of the sources.

The sources declined to be identified due to the sensitivity of the matter.

Zhu, who had worked at the Shanghai bourse as well as in securities regulation, is suspected of serious violations of the Communist Party’s discipline and national laws, the Central Commission for Discipline Inspection (CCDI) said in May.

The CCDI, the Ministry of Public Security and Qianhe Capital did not immediately respond to Reuters requests for comment.

Wang and Top Ace could not be reached for comment.