What's Behind This China-Focused Fund's $421 Million Bet on Tencent Music Entertainment?

New York-based Krane Funds Advisors reported a purchase of nearly 3.9 million shares of Tencent Music Entertainment Group (NYSE:TME), increasing its stake by an estimated $126 million, according to an SEC filing on Monday.According to a filing with the Securities and Exchange Commission released on Monday, Krane Funds Advisors increased its position in Tencent Music Entertainment Group (NYSE:TME) by acquiring nearly 3.9 million additional shares during the third quarter. The post-transaction holding stands at 19 million shares valued at $421.6 million as of the filing date.The buy activity raised Krane's TME position to 12% of the 13F AUM.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool