Marshall Wace has built the biggest short position against NatWest ever recorded by the Financial Conduct Authority, as fears over the global banking system cause turbulence in financial stocks, according to a report by The Times.
Marshall Wace has built the biggest short position against NatWest ever recorded by the Financial Conduct Authority, as fears over the global banking system cause turbulence in financial stocks, according to a report by The Times.
FCA disclosure data shows Marshall Wace, which has around $61 billion of assets under management, has taken a 0.61 per cent net short position in taxpayer-backed NatWest.
The bearish bet follows last month’s banking turmoil, which saw the collapse of three regional US lenders, including Silicon Valley Bank, and a rescue takeover of Credit Suisse by Swiss rival UBS.
Marshall Wace’s negative wager is the largest short in NatWest stock reported to the FCA, which since 2012 has required funds to disclose short bets above a certain threshold, analysis by The Times shows. Shares in the lender stood at about 310p in February but have since slumped by 14 per cent in tandem with falls in other banking stocks.
