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Emerging Markets Find Their Mojo

Two Chinese tech firms, Alibaba Group Holding and Tencent Holdings, are responsible for much of the growth.

China may still be an emerging market, but consumers there are ahead of the rest of the world in mobile e-commerce. “They go to restaurants and swipe their phones to pay,” says Baron Emerging Markets manager Michael Kass. He adds that 70% of consumer purchases in China are electronic.

Kass identifies growth-oriented themes and combines them with nitty-gritty stock picking to run the fund. He has tapped into the mobile e-commerce trend with stakes in two Chinese tech firms, Alibaba Group Holding and Tencent Holdings. The stocks climbed 63% and 58%, respectively, over the past 12 months, which helped lift Baron Emerging Markets (BEXFX) by 21.1%.

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