Hedge funds have “trimmed” stocks and other bets that are most exposed to the Chinese coronavirus outbreak, according to one allocator that tracks their positioning, but are now looking for buying opportunities in bombed-out Chinese markets and energy stocks.

The findings, from French asset manager Lyxor, suggest some professional investors are hunting for reasons to look past the deadly outbreak, which has now infected more than 20,000 people and killed at least 425; the vast majority in mainland China. Many market analysts are now predicting the virus’ spread will be contained by April or May.