BlackRock, the asset manager at the centre of a deal to buy US$23 billion in port assets from Li Ka-shing’s CK Hutchison Holdings, has about US$15.5 billion invested in Hong Kong and mainland-listed stocks through its China-focused funds, with its portfolios concentrated on technology and financial companies.
According to its website, the world’s largest money manager has at least seven funds dedicated to Chinese stocks; five are passive exchange-traded funds (ETFs) and two are actively managed. The funds’ top holdings as of the end of February included Alibaba Group Holding, Tencent Holdings, Contemporary Amperex Technology (CATL) and China Merchants Bank, according to fact sheets. Alibaba owns the Post.
The largest is the US$7.6 billion iShares China Large-Cap ETF, which tracks the FTSE China 50 Index. The iShares MSCI China ETF, which tracks the MSCI China Index, ranked second with US$6.3 billion in assets.
The BlackRock China Fund is the larger of the two actively invested funds, with US$1.3 billion in assets under management (AUM). The BlackRock China A Opportunities Fund, which targets yuan-denominated stocks in mainland China, had US$15.7 million in AUM.
BlackRock also manages other funds with regional or global scopes that may also be invested in Chinese equities.
Earlier in March, CK Hutchison said it would sell most of its global ports business, including assets it holds along the strategically important Panama Canal, to a group led by BlackRock for US$23 billion. The deal triggered a backlash and on Friday, Beijing said it would launch an antitrust probe into the sale. US President Donald Trump, who had lobbied for the canal to be freed from what he called Chinese control, hailed the deal, amid trade-based tensions between Beijing and Washington.
The New York-based asset manager did not reply to an email from the Post seeking comment.
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