As Amazon parties on, some large fund managers take their leave

ABANDONING SHIP?: There are 116 funds with more than US$1bil (RM3.61bil) under management that have either reduced or sold all of their holdings in the Internet retailer over the past 12 months.

NEW YORK: For many years, investors have been very tolerant as Amazon.com has sacrificed profits for rapid growth in sales and as it built new businesses. That patience may finally be wearing thin. 

The average large-cap fund that holds Amazon has 1.4% of its assets in the stock, down 23% from this time last year, according to the latest available Lipper data.