BlackRock has taken out a short position in rival asset manager Aberdeen Asset Management ahead of its expected fall out of the blue-chip index, according to a report.
According to the Financial Times, Aberdeen, which has suffered as a result of its emerging markets exposure and the slowdown in China, is due to fall into the FTSE 250 when the indices are rebalanced later this week. More than £30bn over 18 months has been pulled from Aberdeen's funds by investors wary of their underperformance, as the firm has reported 11 consecutive quarters of outflows. Analysts have since forecast outflows this year could reach £21bn. This has led BlackRock to take a 0.58% short position against the firm, according to data provided by the UK regulator, the FT repo...
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