Q2阿裏巴巴港股持股大增，貝萊德等機構“減持”實爲轉港股
過去幾個月來，由於MSCI和FTSE指數調整，幾大全球資產管理公司已將阿裏巴巴美國存託股份（ADR）轉倉至港股，導致二季度阿裏巴巴港股持股大增。
近日，有媒體報道稱經查閱第二季度13F文件，發現貝萊德（BlackRock）二季度拋售88%的阿裏巴巴ADR持倉，涉7,402萬股，佔其投資組合持股比例從0.56%下降至0.06%。有香港媒體查閱港交所中央結算系統（CCASS）持股紀錄則發現，貝萊德並非減持，而是從美股轉倉港股。貝萊德一位發言人本週也告訴Ignites Asia，貝萊德依據明晟指數（MSCI）變動，於2021年6月將阿裏巴巴美國存託股份轉倉至港股。
實際上，港交所中央結算系統持股紀錄顯示，更多機構也已將阿裏巴巴ADR轉倉至港股。例如，道富集團（State Street）轉倉2,831.2萬股ADR，美股持股比例則從0.43%降至0.05%；普信集團（T. Rowe Price）轉倉約1,647萬股ADR，美股持股比例因此從1.16%降至0.73%；瑞銀集團（UBS）轉倉1,194.5萬股ADR，美股持股比例從1.33%降至0.42%。今年二季度，資管巨頭景順（Invesco）也將4,500萬股阿裏巴巴ADR轉倉至港股，其一季度已轉倉2,300萬股。
原來，今年5月，指數編制公司明晟（MSCI）公佈半年報顯示，由於阿裏巴巴已符合轉換條件，旗下MSCI中國及其他MSCI GIMI中綜合指數將由追蹤阿裏於紐交所掛牌的美股ADR，改爲追蹤於港交所掛牌的9988，於5月28日生效。富時指數（FTSE）則早在今年2月就公佈這一調整，並已於3月22日生效。
基於此，所有被動基金都會做出相應調整，將所持倉的阿裏巴巴ADR轉至港股。消息稱，之後還會有其他指數基金會有類似操作。
截至6月底，全球第二大資產管理公司先鋒集團（Vanguard）將其持有的全部阿裏巴巴ADR轉倉至港股。此前紀錄顯示，截至2020年底，先鋒集團持有6,265萬股ADR。截至今年3月底，其將93.58%的美股持倉轉至港股。
另據港媒報道，港交所中央結算系統持股紀錄顯示，截至3月31日季度，阿裏巴巴於CCASS持股量爲82.8億股（普通股，下同），佔已發行股份的38.17%。截至6月底，CCASS持股量爲101.18億股，佔已發行股份的46.64%。這意味二季度CCASS的阿裏巴巴持股量淨增加約18.38億股或8.47%，反映持續有大戶搬倉至港股。以6月30日收市價220港元計算，該批股份市值約4,043億港元。
與此同時，阿裏巴巴的美股存託銀行花旗銀行於CCASS的持股量爲36.93億股，佔已發行股份的17.02%。第二大持股中介人匯豐銀行持股則由3月底的18.54億股增至6月底的31.45億股，佔比由8.55%增至14.5%，也反映了大量機構轉倉至港股的情況。
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