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Tiger Global Posts 17% Gain; Likes Chinese Internet Stocks

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Tiger Global Management LLC said its onshore hedge fund wrapped up 2014 with a 16.9 percent return.

In a letter to investors, the firm said themes contributing to the success of its $16 billion fund included consumer Internet, pay TV and payment processing stocks.

Among the fund's winning holdings: China online discount apparel retailer Vipshop Holdings Ltd (NYSE: VIPS), South African-based media concern Naspers Ltd. (OTC: NPSNY) and FleetCor Technologies, Inc. (NYSE: FLT), which provides fuel cards to commercial fleet operators.

The fund also benefited from Alibaba Group Holding Ltd (NYSE: BABA)'s first three months of trading, with shares acquired when the company was private.

In e-commerce and online classifieds, Tiger said its largest current holding is Autohome Inc. (NYSE: ATHM) in China. "Autohome is already profitable and we believe earnings can compound at high rates for the foreseeable future," the firm explained.

Although Tiger likes China for Internet companies' potential growth, it also sees opportunity in consolidating high-speed Internet providers closer to home.

John Malone, as well as Patrick Drahi, "represent two of the most capable capital consolidators in the industry," the letter said.

Malone operates Charter Communications Inc. (NASDAQ: CHTR) in the U.S. and Liberty Global plc (NASDAQ: LBTYA) in Europe, while Drahi operates Altice SA (OTC: ATCEY) and Numericable SFR (OTC: NUMCF).

Latest Ratings for VIPS

Jan 2017BernsteinInitiates Coverage OnUnderperform
Nov 2016Deutsche BankUpgradesHoldBuy
Aug 2016JP MorganAssumesNeutral

View More Analyst Ratings for VIPS
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Posted-In: Analyst Color Long Ideas News Hedge Funds Analyst Ratings Tech Trading Ideas General


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