(Yicai Global) Jan. 19 -- US financial services firm Capital Group’s EuroPacific Growth Fund, the global fund with the largest stake in Kweichow Moutai, reduced its holdings in the world’s most valuable distiller by 5.9 percent in the fourth quarter, China Securities Journal reported today.

Yet, despite the reduction in shares, the fund’s stake was worth CNY14.2 billion (USD2.19 billion) at the end of 2020, up from CNY12.2 billion at the end of last September, as the liquor maker’s share price gained 70 percent over the course of the year.

The New World Fund, also run by Los Angeles-based Capital, similarly shed some equity in the Moutai, southwestern Guizhou province-based company last year.

Kweichow Moutai's stock price [SHA:600519] closed down 2.6 percent today to CNY2,009.41 (USD310). Earlier this month it had reached a record high of CNY2,164 apiece.

Editor: Kim Taylor