Alibaba Becomes Key Holding in Chinese Fund Manager's Portfolio, Economic Measures Spark Interest in Leading Tech

Chinese fund manager Zhang Kun invested in Alibaba Group Holding BABA in the third quarter, making it the second-largest holding in his $8.5 billion portfolio, as leading tech and consumer stocks attract interest after years of underperformance.Zhang, of Guangzhou-based E Fund Management, purchased 40.4 million Hong Kong-listed Alibaba shares via his E Fund Blue Chip Selected Mixed Fund, representing 9.1% of the fund’s assets, SCMP cites its quarterly report.Zhang noted that certain consumer companies now o ...