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Hedge funds can’t get enough of JD.com Inc. (NASDAQ:JD) Inc.

Tiger cubs including Lone Pine Capital LLC, so-named because their founders worked for billionaire Julian Robertson’s Tiger Management, helped lead a rush into the Chinese online retailer’s U.S. depositary shares in the first quarter. Hedge funds hold a record 44 per cent, based on publicly disclosed holdings. That’s more than they own in any of the 217 other U.S.-listed companies valued at more than $25-billion (U.S.).

Various condominiums are clustered along Fort York Boulevard in downtown Toronto. Gen Y investors who are likely to buy real estate in the near future should look to high-interest savings accounts and guaranteed investment certificates rather than stocks.

The hedge funds, which also include Carlyle Group LP’s Emerging Sovereign Group, are piling into a company that’s benefiting from surging online shopping in the world’s second-largest economy. Investors are betting a burgeoning middle class and growing Internet user base will help extend the 78-per-cent rally since JD.com’s initial public offering a year ago.

“People have taken a look at this company, some great funds, and they like what they see,” Dan David, co-founder of Skippack, Pa.-based research firm Geoinvesting, said Monday. “Hedge funds tend to do a lot more diligence on the companies they invest in than a mutual fund or any other kind of fund. They have a vested interest to take a much closer look on the ground. They see value there.”

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