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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