(Reuters) -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 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.
Before setting up his own shop, Wang spent 14 years at China Asset Management Co (AMC), one of the country’s largest mutual fund houses, as its vice-president and chief investment officer.
At AMC, Wang was known for generating huge returns on stock picks and garnering a large following among retail investors.
Zhu is one of several former China Securities Regulatory Commission (CSRC) officials to come under scrutiny in recent years.
In addition to years spent in security regulation, Zhu also worked at the Shanghai bourse and was a former deputy governor of Zhejiang province in charge of financial affairs.
China’s top graft-busting body in February vowed to “resolutely” crack down on corruption in the financial sector in a strongly worded commentary. The wording suggests that President Xi Jinping’s signature anti-corruption campaign is increasingly turning towards the financial and corporate sector.
(Reporting by Reuters staff; Editing by Sumeet Chatterjee and Edwina Gibbs)