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FACTBOX-Short positions on leading Italian bank shares

Published 2019-05-22, 07:00 p/m
Updated 2019-05-22, 07:00 p/m
© Reuters.  FACTBOX-Short positions on leading Italian bank shares

© Reuters. FACTBOX-Short positions on leading Italian bank shares

By Danilo Masoni

MILAN, May 23 (Reuters) - Analysis of data from Italian market regulator Consob, which tracks changes in short positions above 0.5%, shows that funds which built big bets against shares in Italy's leading banks since 2018 have loosened their grip. is a summary of funds' positions as of May 21 and their recent moves on five of the country's leading banks: Intesa Sanpaolo , UniCredit, Banco BPM, UBI Banca and BPER Banca.

INTESA SANPAOLO ISP.MI :

No investment fund currently has a net short of above 0.5%.

Below is a summary of moves since January 2018. HOLDER

NET SHORT

AS OF

COMPARED WITH Bridgewater

0.48%

11/07/2018 1.35% peak on Associates, LP

23/03/2018

UNICREDIT CRDI.MI :

No investment fund currently has a net short of above 0.5%

Below is a summary of moves since January 2018. HOLDER

NET SHORT

AS OF

COMPARED WITH AQR Capital

0.49%

28/03/2018 1.27% peak on Management, LLC

08/01/2018 Bridgewater

0.48%

17/07/2018 0.82% peak on Associates, LP

02/03/2018

BANCO BPM BAMI.MI :

Details of funds whose current positions above 0.5% with comparatives going back to January 2018. HOLDER

NET SHORT AS OF

COMPARED WITH AHL Partners LLP 0.57%

15/04/2019

1.21% peak

18/10/2018 AQR Capital

1.12%

15/05/2019

3.11% peak Management, LLC

03/01/2018 BlackRock (NYSE:BLK)

0.58%

7/05/2019

1.1% peak Institutional

12/12/2018 Trust Company

Citadel Europe

0.52%

14/05/2019

0.51% peak LLP

07/03/2019 Lansdowne

0.72%

07/02/2019

NA Partners (UK) LLP

Marshall Wace LLP 0.79%

15/05/2019

4.32% peak

29/10/2018 PDT Partners, LLC 1.25%

09/05/2019

1.45% peak

15/01/2019

UBI BANCA UBI.MI :

Current positions above 0.5% with comparatives going back to January 2018.

HOLDER

NET SHORT AS OF

COMPARED WITH AQR Capital

1.8%

17/05/2019

1.7% peak Management, LLC

09/01/2018 BlackRock

0.5%

17/05/2019

0.7% peak

Institutional

29/08/2018 Trust Company

Citadel Europe

0.8%

06/05/2019

0.92% peak LLP

10/01/2019 Lansdowne

0.54%

08/02/2019

NA Partners (UK) LLP

Marshall Wace LLP 1.69%

16/05/2019

3.81% peak

06/03/2019 PDT Partners, LLC 0.62%

20/03/2019

0.53% peak

28/09/2018

BPER BANCA EMII.MI :

Current positions above 0.5% with comparatives going back to January 2018.

HOLDER

NET SHORT AS OF

COMPARED AHL Partners LLP 0.99%

25/04/2019

1.52% peak

18/10/2018 Gladstone Capital 0.71%

01/04/2019

0.66% peak Management LLP

06/02/2019 Oceanwood Capital 1.04%

15/05/2019

0.92% peak Management Ltd

08/05/2019

There have been other funds that have cut their short bets on BPM, BPER and UBI below the 0.5% level in recent months with positions peaking around the end of 2018 or earlier this year.

Link to full data from Consob: http://www.consob.it/web/area-pubblica/pnc

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Link to full data from Consob

http://www.consob.it/web/area-pubblica/pnc

Foreign funds loosen bearish bet on big Italian banks

GRAPHIC: Italy banks vs euro zone peers

https://tmsnrt.rs/2WfgHwI

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