So they won't have just been "buying the index" in case ALF makes the top 50?
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That may have been a factor but if you have a read of page 56 of their Annual report they held 113m of TEL and 29.3m in NZS. Those two holdings contrast indiacte the investment approach is not aimed at tracking the 50 index or even tracking benchmark world index like the dow or 500.
It seems they diversify widely, but also have the ability to take views outside of the box as well.
Did have. This was the AR for year end 2008. NZS did hit a peak of $1.80ish
As at 19 March 2010 ACC own 16.9m NZS, worth 6.61m.
Back to topic:
Someone just bought 4.18m ALF @ 0.062.
Only 2 ppl owned more than 2m shares in ALF before the Hanover shareholders came on board. Rob Alloway & John Hynds.
We now have 32 ppl who own more than 2m shares.
The trade is for the exact size of one of the new holders, so another Hanover investor selling their complete stake.
Who are these high rollers? Close of day trade worth $500 brings the price down 1.6%
Apparently management presented at First NZ conference today