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Hedge fund managers betting on plunge in bank shares

The Independent- The American hedge fund group Harbinger Capital Partners revealed that it has made a significant bet on HBOS’s price falling, while its UK counterpart GLG admitted it is targeting the rival mortgage bank Bradford & Bingley, as investors were forced yesterday to disclose their short positions to the market for the first time.

 

The Financial Services Authority shocked the trading community a fortnight ago when it announced that investors would be compelled to disclose short positions of more than 0.25 per cent of share capital in companies carrying out rights issues.

The announcements started on Friday, and continued yesterday with 20 investors, predominantly hedge funds, disclosing short positions in seven companies that are in the process of carrying out rights issues.

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