(Bloomberg) — Some of Asia’s biggest funds more than doubled their positions in Alibaba Group Holding Ltd. and Sea Ltd. in the second quarter after a yearlong rout.
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The number of Alibaba shares held by the Asia-focused funds increased 311% during the period, while that of Sea jumped by 110%. That’s based on the analysis of the 13F filings of 15 Asian asset managers — including hedge funds Aspex Management (HK) Ltd. and Oasis Management Co. — that had at least $200 million in quarter-end holdings.
The choppy markets put Asia’s hedge funds to the test. A Nasdaq gauge with heavy exposure to Chinese technology firms has slumped nearly 67% since a February 2021 peak, as the regulatory crackdowns and geopolitical tensions spooked investors.
The 13F filings, a quarterly report of US-listed holdings by money managers, provide a snapshot of the quarter-end…
