Economic TimesLean R·
GQG sale of Adani Energy shares said to disrupt hedge fund bets
GQG Partners Inc.’s sale of Adani Energy Solutions Ltd. shares during India’s closing auction on Monday overwhelmed demand from passive funds, according to people familiar with the matter, contributing to a 10% slump in the stock on the day.The unexpected supply also hurt hedge funds that had positioned ahead of the MSCI Inc. index rebalancing on Aug. 31, expecting to sell shares to index-tracking funds, the people said.Trading around index rebalancing is a common strategy among hedge funds, wh…
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