© 2017 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Write For Us T&C's Privacy Support Us © 2017 Neon Nettle All Rights Reserved.

George Soros Buys Up Stakes in Goldman Sachs And Bank Of America

New York based firm confirms $14.9m position

By: Jacky Murphy  |@NeonNettle
 on 15th February 2017 @ 4.10pm
george soros s fund management firm has started buying up stakes in goldman sacks and bank of america © press
George Soros's Fund management firm has started buying up stakes in Goldman Sacks and Bank Of America.

Billionaire George Soros's Fund management firm has started buying up stakes in Goldman Sachs and Bank Of America.

The New york based firm disclosed a $14.9m position in Goldman Sachs and also placed a new bet on the Bank Of America worth $3.9m.

The Independent reports: The firm took a handful of new positions in financial stocks during the fourth quarter as the sector was buoyed by Donald Trump's presidential victory.

The New York-based firm disclosed a $14.9m position in Goldman Sachs and made a new bet on Bank of America worth $3.9m. One of its biggest buys during the last three months of 2016 was a call option on the S&P Select Sector SPDR Fund - Financial Sector worth $72.6 million.

A number of asset managers bought into financial stocks during the final months of 2016 after Trump's surprise victory suggested that tax cuts and a reduction of regulatory burdens plus higher interest rates could benefit the financial sector.

Soros recently hired UBS executive Dawn Fitzpatrick to be the firm's chief investment officer, putting a woman in charge of his portfolio for the first time.

Soros sold his entire stake in Procter & Gamble, while Trian Fund Management bought a stake worth $3.5bn in the company.

Subscribe to our mailing list

comments powered by Disqus

Follow NN


PREV
BOOKMARK US
NEXT