Ausbil Investment Management Ltd was the top holder in the last published list of Galaxy shareholders, holding 36,642,243 shares which represented 8.95% of total GXY shares. I understand that most of these shares have been lent out to shorters who have between them pushed the share price down to current lows. Ausbil advertises itself as a leading Australian based investment manager, whose core business is the management of Australian and global equities for major superannuation funds, institutional investors, master trusts and retail clients. I think there is something very wrong with the ASX if an investment manager is willing to accept a small percentage for lending out the shares it is managing for its clients, when that very action is decimating the value of those shares.
GXY Price at posting:
95.5¢ Sentiment: Buy Disclosure: Held
