, Columnists
There's No One-Way BAT in China
Baidu, Alibaba and Tencent aren't a sure thing for the top investors.
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A slowing Chinese economy hasn't undermined the belief of the world's largest emerging-markets stock fund in the country's internet industry. But investment returns show that big money doesn't always equal smart money.
Oppenheimer's Developing Markets Fund, an open-ended pool with $28 billion under management, raised its allocations in China's Baidu, Alibaba and Tencent -- collectively known as BAT -- by 63 percent over the past year.