‘Disappeared’ Chinese hedge fund boss says “I was not investigated”

Li Yifei denied she was taken into custody last week over China stock market volatility

Li, the head of hedge fund manager Man Group Plc's China business, has been taken into custody to help authorities in a probe into recent market volatility, Bloomberg reported on August 31, 2015 (Reuters)

Li Yifei, the chairwoman of hedge fund firm Man Group Plc’s China has denied media reports that said she had been assisting a police investigation into market volatility. Li said she has returned from a meditation trip.

Li’s ‘disappearance’ prompted speculation she was taken into custody last week. It came after a series of confessions from journalists and members of the financial industry in a campaign against market manipulation lead by Chinese authorities.

However, Li – one of China’s most powerful business women - said she was attending industry meetings and had then taken a 5 to 6 day trip to meditate, Reuters has reported.

"I wasn't investigated," Li said by telephone, adding she was "shocked" by the media reports.

Li also posted on Twitter-like Weibo account on Sunday, that she attended ‘industry meetings’, and enjoyed the military parade on Thursday, according to Bloomberg.

Chinese authorities have unleashed a volley of measures to try to prop up stock markets that have fallen around 40 per cent since mid-June. These have included pushing domestic brokerages and fund managers to buy up shares, and banning investors with large stakes from selling their holdings for six months.

Li indicated it was largely business as usual for her though, adding she was still working for Man Group.

She became Man's chairwoman in China in 2011, having previously worked as the head of MTV China.