Here are some funds boosted by Taiwan Semiconductor’s record run

SINGAPORE (Sept 8): As many as 113 funds available for sale in Singapore have a stake in chip giant Taiwan Semiconductor Manufacturing Company (TSMC). TSMC rose 2.8% on Wednesday to close at a record high NT$166.50 ($7.18). This year, the stock has been on a tear, rising nearly 34% -- more than double the gains of Taiwan’s benchmark Taiwan Stock Exchange Weighted Index (TWSE).

TSMC has a market cap of $206 billion and is the world’s largest contract manufacturer of chips with a 55% market share. The stock’s customers include tech giant Apple Inc, British semiconductor and software design company ARM Holdings and Qualcomm Inc. With a hefty 17% weighting in the TWSE, TSMC has driven the returns of the index and also the funds holding the stock.

Among the funds with the largest exposure (see table below) to TSMC is BlackRock’s $1.8 billion BGF Asian Growth Leaders fund, which had a 6.4% allocation as at July 31. The fund bought into TSMC in January this year, according to Morningstar Direct data. Other top 10 fund holdings that have done well this year include Chinese internet stock Tencent Holdings (+41%) and Chinese education provider TAL Education Group (+36%).

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