Fidelity Investments and Jupiter among fund houses hit by CAB Payments sell-off

JPMAM has a 0.50% net short position

Valeria Martinez
clock • 2 min read

Fidelity Investments, Jupiter, Chelverton Asset Management and Polar Capital are among a raft of asset managers hit by the sharp sell-off of CAB Payment shares on Tuesday (24 October), while JP Morgan AM is poised for gains through its short book.

The funds with the largest exposure to the B2B cross-border payments and foreign exchange services provider are set for significant losses, after its shares plummeted by over 70% on Tuesday due to a profit warning.  Six out of the 20 funds with the largest CAB Payments holdings belong to US asset manager Fidelity Investments, a subsidiary of Fidelity Management & Research, according to data from Morningstar Direct.  Market Movers Blog: CAB Payments shares plunge more than 70% after revenue warning Fidelity Management & Research owns 6.5% of total shares held, with an additional 1.0...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

AUM drops by 5%

Valeria Martinez
clock 12 July 2024 • 1 min read
Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Multi-asset fund outflows continue to bite

Valeria Martinez
clock 12 July 2024 • 2 min read
GAM sells management company arm to Apex Group

GAM sells management company arm to Apex Group

UK, Luxembourg and Ireland operations

Cristian Angeloni
clock 11 July 2024 • 1 min read
Trustpilot