The BlackRock China Fund, managed by Lucy Liu and Ada Zhang, has gained 14 per cent so far this year. Tencent was the fund’s top holding, accounting for 9.2 per cent of its assets, followed by Alibaba at 8.5 per cent and Xiaomi at 6.5 per cent.
As of March 17, BlackRock funds held a combined 984.8 million shares of Alibaba, representing a 5.2 per cent stake, according to data from Hong Kong’s stock exchange.
It also held 47.4 million Hong Kong-listed shares of ZTE, a maker of telecoms equipment, representing a stake of 6.27 per cent. BlackRock also recently held a 5.09 per cent stake in CK Hutchison.
