Huge US mutual fund sells down major stakes in Irish companies

Huge US mutual fund sells down major stakes in Irish companies

One of the world’s biggest mutual funds has been quietly selling down its stakes in several well-known Irish companies, including Cairn Homes, Bank of Ireland, Smurfit Kappa, Tullow Oil and Hostelworld, stock exchange filings show.

The Capital Group is a Los Angeles-based mutual fund with nearly $2 trillion in assets under management, and over the course of slightly more than a year it has been reducing substantially the size of several of its Irish...

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