Barratt shares soar on hedge fund interest
Tuesday, August 12, 2008 : PermalinkFinancial Times – Shares in Barratt Developments led the housebuilding sector higher on Monday morning as it revealed a US fund manager had increased its stake in the heavily-indebted company to more than 6 per cent.
Polaris Capital Management, a Boston-based value fund manager, had previously bought a 5.73 per cent stake in Barratt, whose shares have tumbled as the housebuilding industry has suffered sharply lower sales volumes and weakening sales prices in the wake of the credit crunch.
Tags: angela-merkel, citigroup, decade, investment-funds, money-managers, osc
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