Hong Kong-based hedge fund Monolith Management announced a 53% return this year.

The gains were fueled by investments in semiconductors and United States data centers, alongside a rally in Chinese stocks in September.

With US$300 million in assets under management, Monolith plans to expand its long-short equity strategy to US$500 million by launching a new fund in January 2025.

The fund profited from investments in US and Taiwanese semiconductor stocks, particularly those linked to AI.