Aviva moves to stop lending shares to hedge funds
Tuesday, March 17, 2009 : PermalinkInsurance giant Aviva could end the practice of lending shares to hedge funds in a move against short-selling.
Aviva shares were battered on the stock market earlier this month – losing 40pc of their value in two days – amid claims that short-sellers were looking to make quick profits by driving down the company’s share price.
Now Aviva directors are said to favour bringing to an end the company’s involvement in lending shares from its own investment portfolio to hedge funds.
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