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18

Tybourne Among Asia Hedge Funds Selling Chinese Company ADRs

By Tony Seruga

Alibaba, Qunar and iKang among ADR stocks sold by funds
A China ADR index rose 16% in the fourth quarter before a drop

Asia-based hedge funds including those managed by Tybourne Capital Management (HK) sold American depository receipts of some Chinese companies in the fourth quarter, seizing a rebound before the slump resumed.

Tybourne cut holdings in Alibaba Group Holding Ltd. in the final three months of 2015 after emerging among the largest hedge-fund buyers of the Chinese e-commerce stock in the prior quarter, according to a filing with the U.S. Securities and Exchange Commission. Myriad Asset Management and Sylebra HK were among hedge funds that also sold ADRs of Chinese companies in the fourth quarter, according to data compiled from 13F filings disclosing stakes in U.S.-listed shares…

Tybourne Among Asia Hedge Funds Selling Chinese Company ADRs

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