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No. of Recommendations: 19
California pension fund is my bet.

Interesting thought.
But one of the sovereign wealth funds might be more likely...Norway, say. They're under new management.
Mainly because of scale, and some have very long term outlooks.

It's quite a phenomenon.
The average A volume in the last two months has been 2105 shares/day or $811m.
The average volume in the four prior years amounted to only 343 shares/day, about a sixth as many.

Measured that way, the aggregate "excess" volume in the last two months is about 74,000 shares or $28.5bn of purchases.
The excess volume might not be a single purchaser, but it might be.
It equates to 11.6% of all A shares and 9.6% of all voting power, so if it's one buyer, the identity is of more than passing interest.

Jim
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