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The Alibaba Bump: 89% Of Funds That Own It Are Beating Their Benchmark
FYI: U.S. mutual funds struggling to get ahead of passive indexes this year had a solution handed to them on a platter: Alibaba Group Holdings Ltd.
Among 215 large-cap growth funds in the U.S., about one-third hold shares of the New York-listed Chinese e-commerce giant, according to regulatory filings compiled by Bloomberg. They’ve returned an average 33 percent this year, compared with 24 percent from managers with no stake.
