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Star China Fund Manager Targets Comeback With Tencent Bet

  • Zhang’s fund has loaded up on Hong Kong shares since Sept. 9
  • The fund had 9.4% of its assets in Tencent as of end-Sept.

A Chinese celebrity fund manager has gone on a shopping spree for Hong Kong’s battered shares, switching out a large chunk of mainland stocks after gaining investor approval last month to invest in the region. 

Zhang Kun’s E Fund Quality Selected Mixed Fund now has 23% of its shares in the city after a change of mandate finalized on Sept. 9. The 21.7 billion yuan ($3.4 billion) fund has snapped up the likes of Tencent Holdings Ltd., Hong Kong Exchanges & Clearing Ltd. and JD.com Inc., counting them among its largest holdings at the end of September, according to a filing Wednesday.