Grace Lu vaults to top of fund heads

Bets on consumer-related stocks and high-end manufacturers have helped Grace Lu vault to the top ranks of China-focused hedge fund managers this year, bucking industry-wide losses.

Lu, who runs the $85 million GH China Century Fund at Singapore-based Lygh Capital, said she is up 12.6 percent this year through August. That's the second-best performance among China-focused long-short equity funds, according to Eurekahedge.

Funds investing in China lost 1.6 percent through August, Eurekahedge said in a report, as the Shanghai Composite Index has fallen 15 percent this year.