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...
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