China Takes Into "Custody" Man Group Exec In Market Sell-Off Probe

Chinese authorities have "taken into custody" Li Yifei, chairwoman of British hedge fund manager Man Group Plc's China unit, a move that came as a shock to some in the algorithmic trading community. But while the headlines were, themselves, arresting, underneath the surface lies the real story. LI is being taken into custody for questioning, and what Chinese authorities might realize is that she is unaffiliated with the trading decisions of Man Group and even still the firm's passive trend following algorithms, if they have maintained traditional roots, are likely not designed to manipulate markets.