Ontario teachers hit jackpot with bet on JD.com

Their C$141 billion (HK$1 trillion) retirement fund bought about 44 million of the then privately held company's shares in November 2012 for US$175 million, according to a May filing with the United States Securities and Exchange Commission. By the end of June, after JD went public in the US and its stock soared, the investment's value more than tripled to US$630 million, a separate filing made on Thursday showed.

The Ontario Teachers' Pension Plan's investment is part of a growing trend that has seen overseas asset managers, from Singapore's Temasek Holdings to Baltimore-based TRowe Price Group, scoop up stakes in Chinese e-commerce operators to benefit from surging online shopping in the world's largest pool of internet users.

JD's shares gained 4.3 per cent last week, bringing their advance since the stock's May debut to 56 per cent.

"It's a clear positive that JD has the support of sophisticated investors with deep emerging-market experience," said Eric Brock, a portfolio manager at Clough Capital Partners. "JD is investing in a big market. Having the support of large, long-term investors will be very helpful as they create value."

The Ontario Teachers' Pension Plan's spokeswoman Deborah Allan declined to comment on what the asset manager has done with its JD shares since the end of June.