J.P. Morgan’s China Fund Ramps Up Bets on Tech as ‘Worst Over’
(Bloomberg) — J.P. Morgan Asset Management is doubling down on China tech stocks after enduring a tumultuous sell-off, betting that a wind-down of regulatory crackdowns and attractive valuations will pay off big.
Rebecca Jiang, who co-manages three China equity funds with total assets near $20 billion, said the firm hasn’t significantly trimmed holdings of the country’s tech giants during a yearlong rout as the sector provides “critical value” to customers. The flagship China fund has snapped up shares of Alibaba Group Holding Ltd. and JD.com Inc. this year, according to filings as of the end of May.
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