Enough with the hotxopper conspiracy theories. This couldn’t be more wrong. All of you.
Statestreet is a custodian for pension funds/insto and holds securities for its funds on offer to the public. The bulk of those funds are merely custodian holdings for pension funds. More likely than not the large increase in BHP is your Australian superfunds increasing their holdings which are held via a custodian bank for safekeeping and administration. The underlying owners are for the most part, Australian superfunds on behalf of all you. They do not own the shares nor vote, your superfund does. Regarding shorting…. It’ll be up to your superfund trustees to decide if they do securities lending and lend them out for shorting for a fee. Email your fund…
in addition to your funds buying Statestreet may have simply won some new clients and they moved their holdings across from one of the other majors to statestreet. Hence the disclosure.
If you see JP Morgan, HSBC and state street they are all for the most part custodians and holding on behalf of pension funds who legally have to be with one.
BHP Price at posting:
$40.26 Sentiment: Buy Disclosure: Held
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