Investment funds buy €260m worth of Kingspan shares
Expenditure comes despite slide in the company’s share price due to Covid-19 outbreaks on construction sites and Brexit
Two of the world’s biggest investment funds spent more than €260 million combined to build their stakes in Kingspan, the Cavan insulation company.
Fidelity Investments, which has more than $4 trillion in assets under management, bought €87 million worth of shares last week to push its stake to 4 per cent.
Capital Group, the Los Angeles-based fund with $2.6 trillion in assets under management, bought €175 million worth of shares to bring its stake to 9.04 per cent.