Alibaba and Tencent’s main business may be shopping and gaming, but their latest earnings reports show they are also giving investment managers a run for their money.

The Chinese tech duo’s substantial investment portfolios generated roughly one-third of their pre-tax income in the quarter to end-September. Tencent declared net other gains of Rmb8.8bn ($1.27bn) while Alibaba noted Rmb6.6bn ($951m) of net interest and investment income.