Categories: Investment
Topics: FSA| Short-selling| John Paulson
Billionaire US hedge fund manager John Paulson has made a near £1bn bet against four British banking stocks.
The FSA’s short-selling ban has forced Paulson to disclose large positions in RBS, Lloyds TSB, Barclays and HBOS.
Paulson’s $35bn hedge fund, which amassed stellar returns betting against sub-prime mortgages last year, was one of only a handful of vehicles to retain short positions past Friday's deadline.
The Paulson & Co fund disclosed four UK bank shorts:
It is estimated the combined bets are worth in excess of £900m.
In a statement released last night, Paulson & Co says it “empathises” with the difficulties financial firms currently face.
“We support the FSA's desire to establish fair trading practices and to eliminate fraud and market manipulation,” it reads.
“We will continue to comply with the FSA's requirements.”
Contact:
Hysni Kaso
0207 484 9793
Hysni.Kaso@incisivemedia.com
| Share | |
| Comment | Hedge fund bets nearly £1bn against UK banks |
More investment news
Email alerts
Recommended reading
Categories
Topics
Comments
Related articles
Most Read
This year we have 14 awards designed to mark out the very best products in a highly competitive and innovative market. This includes three new awards for 2011 to reflect the developments in this rapidly growing market: Best Dual/Multi-Index Product, Best Structured (Oeic) Fund and Best Structured Product Provider.
Events
Poll
|
|
Job search
Ifaonlinejobs will open the right investment career path for you. Search hundreds of vacancies on www.ifaonlinejobs.co.uk now
In Focus
Rob Burdett, co-head of Thames River Multi-Capital, highlights some of the challenges facing...
Viewpoints
The darkest days of the recession following the financial crisis in late 2008 may be behind...
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment