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Tencent Seen Doubling by Stock-Picker Already Up 6,000%

  • Oppenheimer’s Leverenz: Tencent, Alibaba can change the world
  • Chinese companies helped emerging-markets fund become largest
The welcome screen for the Tencent Holdings Ltd. QQ messaging application is seen in this arranged photograph taken in Hong Kong, China, on Thursday, Oct. 12, 2017. Regulators elsewhere may be clamping down on the financial industry's use of private messaging apps, but in China the practice is flourishing. Players in the country's $11 trillion bond market use personal accounts on WeChat and QQ for everything from distributing research to soliciting orders.
Photographer: Justin Chin/Bloomberg
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OppenheimerFunds’ Justin Leverenz owes a lot to Tencent Holdings Ltd.

The stock, which he started accumulating in 2007 when it traded for about HK$6 (77 cents) or about 1/60th of its current price, has helped make his emerging-market mutual fund the biggest in the world.