Baron Funds Retains Conviction on Alibaba (BABA)’s Growth Prospects

Baron Funds, an asset management company, released its “Baron Emerging Markets Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 10.33% in the second quarter compared to an 11.45% decline for its benchmark, the MSCI EM Index. Reversal and a modest recovery in China-related equities during the quarter led to the fund’s outperformance over its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Alibaba Group Holding Limited (NYSE:BABA) in the second quarter investor letter. Based in Hangzhou, the People’s Republic of China, Alibaba Group Holding Limited (NYSE:BABA) is a Chinese technology company. On September 9, 2022, Alibaba Group Holding Limited (NYSE:BABA) stock closed at $92.14 per share. One-month return of Alibaba Group Holding Limited (NYSE:BABA) was -2.19% and its shares lost 44.30% of their value over the last 52 weeks. Alibaba Group Holding Limited (NYSE:BABA)  has a market capitalization of $244.654 billion.

Here is what Baron Funds specifically said about Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2022 investor letter:

“Alibaba Group Holding Limited (NYSE:BABA) is the largest retailer and e-commerce company in China. Alibaba operates shopping platforms Taobao and Tmall and owns 33% of Ant Group, which operates Alipay, China’s largest third party online payment provider. Shares of Alibaba rose during the quarter, driven by an increasing focus on improving capital allocation, an improving regulatory environment, and government stimulus targeting Chinese consumers. We retain conviction that Alibaba will benefit from rapid growth in cloud services, logistics, and retail.”

Alibaba Group Holding Ltd (NYSE:BABA), sign on a building, logo, share, stock, New York, offering

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Alibaba Group Holding Limited (NYSE:BABA) ranked 13 on the 30 Most Popular Stocks Among Hedge Funds list. As per our database, 106 hedge fund portfolios held Alibaba Group Holding Limited (NYSE:BABA) at the end of the second quarter which was 100 in the previous quarter.

We discussed Alibaba Group Holding Limited (NYSE:BABA) in another article and shared Alger Capital’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.