Asia-Pacific News

Man Group China boss: I was meditating, not in custody

Li Yifei attends a meeting in Beijing, China.
China Stringer Network | Reuters

The China head of hedge fund Man Group said on Monday that she had not been taken into custody by Chinese authorities, denying media reports that said she had been assisting a police investigation into market volatility.

Bloomberg reported last week that Li Yifei had been taken into custody to help with inquiries, sending shares in Man Group lower and unnerving China's foreign investment community.

However Li told Reuters that she had been attending industry meetings and had then taken a five-to-six-day trip to meditate.

Read More China stock probes send shivers through investment community

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

Li also posted on her Weibo account on Sunday, saying that she enjoyed China's military parade, held last Thursday, and long weekend, and that the weather in Beijing had been very nice recently.

Investors in China say they have been coming under increasing pressure from Beijing as authorities' attempts to revive the country's stock markets hit headwinds, with some investors now being called in to explain trading strategies to regulators every two weeks.

China has unleashed a volley of measures to try to prop up its stock markets that have fallen around 40 percent since mid-June, 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.

Li's husband, Wang Chaoyong, told Reuters last Tuesday that his wife was having "normal" meetings with regulators at a convention center in a hotel in a suburb of Beijing.

Man Group's Asia office told CNBC that it did not have a statement to make about Li's comments.

- CNBC contributed to this story.

- Clarification: An earlier version of this story incorrectly reported that Li posted on Weibo that she was not in custody or being investigated.