when china’s stock market plunged last month one of the nation’s biggest algorithmdriven hedge funds says it bought the dip shanghai minghong investment management co which manages close to 11 billion added 400 million yuan 63 million of stock exposure to its multistrategy fund on march 15 founder qiu huiming told bloomberg other quant funds say they too held the line during the selloff which evoked memories of the 2008 financial crisis