BlackRock closes short position in Aberdeen

Took position in February

BlackRock has closed a short position in rival asset manager Aberdeen Asset Management on the back of improving emerging market sentiment and share price performance.

BlackRock took out the short position in February ahead of a FTSE 100 reshuffle which saw Aberdeen removed from the UK's blue-chip index following an 18-month long period of underperformance for the company. The Financial Times reported BlackRock has now closed this position while Odey Asset Management, run by Crispin Odey, has reduced its short position from 1.8% in February to 1.4%. New York-based hedge fund companies Samlyn Capital and Emerging Sovereign Group have also closed their short positions. Analysts have said renewed confidence in emerging markets, which are up 4.6% so ...