Wellcome Trust of London reduces investments in Alibaba and JD.com, views Chinese stocks as value traps.

From Dow Jones & Company: 2024-07-12 15:29:00

Wellcome Trust of London reduced investments in Alibaba Group Holding and JD.com in Q2, disclosed in SEC filing. The charitable foundation manages $48 billion in assets, with portfolio growing at 12% annually, outperforming S&P 500. Sold 2.3 million Alibaba ADRs and 4.3 million JD.com ADRs. Chinese stocks noted as value traps, despite recent market gains.



Read more at Dow Jones & Company: Big Foundation Slashes Stakes in Chinese Stocks Alibaba, JD.com