Chinese IPO's Are Delivering Double-Digit Gains On Their First Day Of Trading

Beijing China Hot Pot

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:

CNBC:

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.

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