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Funds Are Using Alibaba to Beat Benchmarks

Managers holding the e-commerce giant in their portfolio are beating the market and peers

Shares of Alibaba Group Holdings Ltd. have surged 105 percent so far in 2017, a return that would make them the third best performer in the S&P 500 Index and a staple in portfolios of U.S. mutual funds. Instead, because the New York-listed Chinese e-commerce giant isn’t in any of the biggest American equity indexes, only about one-third of the 215 large-cap growth funds in the U.S. hold a stake, according to regulatory filings compiled by Bloomberg. Managers with Alibaba are beating their benchmarks at a proportion of 89 percent, versus 52 percent for those without it.

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