Chinese IPOs have averaged 13% gains on their first day of trading this year, according to Herb Greenberg at CNBC.
A bubble? Debatable. Frothy? For sure.
Moreover, even some of the largest funds are all over them:
Taking a look at the most recent roster Chinese IPO owners is like a who’s who of big investors, including mutual funds, ETFs and pension funds, including Fidelity, Federated Investors, Massachusetts Financial, Royce & Associates and Blackrock’s small-cap ETF.
Even CalPers, the big California pension fund, has gotten into the act (via China Electric Motor, which has $90 million in revenue but is profitable.)
Which means the average American retirement account is also all over them.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.