Cephei QFII China Total Return Fund Ltd. is a hedge fund based in Kowloon, Hong Kong. According to its most recent Form D, filed Mar 11, 2026, the fund has sold $194,975,000 of interests to 8 investors since its first sale in Jun 2013. The minimum investment it accepts from an outside investor is $3,000,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Yu Min; William Shang Wi Hsu; Stuart Schonberger.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to HedgeMountain directly.
Is this your fund? Report your monthly returns · How performance works
- Total raised
- $194,975,000Cumulative sales reported on Form D
- Investors
- 8
- First sale
- Jun 4, 2013
- Minimum investment
- $3,000,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Yu Min; William Shang Wi Hsu; Stuart Schonberger
- Latest Form D
- Mar 11, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and HedgeMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures
Size compared with every hedge fund
Raised more than 66% of the 98 hedge funds based in Hong Kong, and more than 68% of all 10,157 that report sales.