Deutsche Bank: shares jump on US investment manager's stake
(CercleFinance.com) - US investment manager Capital Group has a stake of over 3% in Deutsche Bank, the German lender said on Thursday, sending its shares to their highest level in over a year.
Deutsche Bank said in a regulatory filing that Capital Group, one of the world's oldest and largest investment managers, now holds 3.1% of its voting rights.
The move reflects a sign of confidence from the Los Angeles-based pension fund, which manages over 1.9 trillion dollars in assets and boasts "superior results" for long-term investors, using high-conviction portfolios, rigorous research and individual accountability.
Deutsche Bank shares jumped by up to 12.5% following this announcement, reaching their highest since October 2018.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Deutsche Bank said in a regulatory filing that Capital Group, one of the world's oldest and largest investment managers, now holds 3.1% of its voting rights.
The move reflects a sign of confidence from the Los Angeles-based pension fund, which manages over 1.9 trillion dollars in assets and boasts "superior results" for long-term investors, using high-conviction portfolios, rigorous research and individual accountability.
Deutsche Bank shares jumped by up to 12.5% following this announcement, reaching their highest since October 2018.
Copyright (c) 2020 CercleFinance.com. All rights reserved.