$恒生指数(HKHSI)$ $上证指数(SH000001)$ $腾讯控股(00700)$ GS数据，全球基金对cn 仓位仍然在低点，可以干的空间相当大

1. Hedge Fund Positioning:

a. Both Gross and Net allocations to China increased in April, but continue to stay close to 5-year lows. Gross allocation to China increased to 5.1% (7th percentile five-year), while Net allocation increased to 7.5% (10th percentile five-year).

Mutual fund: Based on EPFR data, mutual funds globally in aggregate have 5.2% allocation in Chinese equities as of end-March, which represents 1st percentile over the past decade .