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October 21, 2021
BUSINESS

US bank Morgan Stanley owns over 5 pc stake in Proprietatea Fund



Morgan Stanley, the largest bank by assets in the United States, has acquired a 5 per cent stake in the Proprietatea Fund (FP), thus becoming the Fund’s second largest shareholder, Mediafax reports. The US financial services company owns 5.005 per cent of the Fund’s capital. The US hedge fund Elliott Associates owns the largest share package in the FP, accounting for over 18 per cent of the Fund’s share capital, while the City of London Investment Group owns 4.87 per cent. City of London announced in Aug. that it has declined its share to 4.87 per cent from 9.43 per cent in the previous reporting released in Sept. 2012.

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