Fidelity Investments and Jupiter among fund houses hit by CAB Payments sell-off
Regulatory disclosures show that JP Morgan Asset Management has held a 0.50% net short position against the stock since 12 September.
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 1.04% held through Fidelity Management Trust Company and 0.15% through Fidelity Investments, making it one of the largest CAB Payments shareholders.
Jupiter owns 0.92% of total shares held, with the Jupiter UK Smaller Companies and UK Dynamic Equity strategies also featuring in the top 20 funds with the largest holdings as a percentage of total assets, according to the most recently available data from Morningstar Dirct.
Chelverton Asset Management, BlackRock UK, Polar Capital, Lazard Asset Management, Columbia Threadneedle, Vanguard, T Rowe Price and Fidelity International also hold CAB Payments through various vehicles.
Regulatory disclosures show that JP Morgan Asset Management has held a 0.50% net short position against the stock since 12 September, which could prove profitable given the sharp share price slump.
JP Morgan Asset Management shorts CAB Payments after bank aided IPO
However, the firm is also a CAB Payments shareholder through its long book. According to Morningstar Direct, JP Morgan AM owns
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