Hedge Fund Manager Who Shorted Aviva Stock Now Bets on Bonds
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Sohail Malik, a hedge fund manager at ECM Asset Management Ltd., made 13.5 percent shorting Aviva Plc stock after correctly betting the firm would cut its dividend. Now he’s looking for returns in the insurer’s bonds.
Malik, 39, who runs London-based ECM’s European Special Situations fund and usually invests in bonds, was monitoring Aviva’s balance sheet before its full-year results and couldn’t see where the cash to fund its dividend was coming from.