Lansdowne Discloses Barclays Short

Jan 21 2009 | 2:54am ET

Lansdowne Partners did not waste any time profiting from the expiration of Britain’s ban on short-selling financial stocks.

The London hedge fund disclosed—as per U.K. Financial Services Authority rules—that it was shorting Barclays on Friday, the day the ban expired. Shares of Britain’s second-biggest bank happened to fall 27.9% on that day, earning Lansdowne a handsome profit.

Barclays shares have fallen another 25.6% this week, though it is unclear whether Lansdowne is continuing to short the stock. Under the disclosure rules imposed by the FSA in September, investors have to report any short stake exceeding 0.25% of a financial company’s issued share capital. Firms only have to make further disclosure if their short position changes by another 0.1% of issued share capital. Lansdowne’s disclosed short position on Friday was 0.25%.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR