- 16 March 2020
- 4
In a major development arising from the coronavirus-inspired market crash, John Pearce, Chief Investment Officer at the $85 billion Unisuper, told Firstlinks that he has suspended its stock lending programme. Pearce said on Friday:
“I suspended our stock lending program today and I’m hoping that other superfunds follow. My position is that we are comfortable with lending stock to promote market efficiency in ‘normal’ times but these times are clearly abnormal. I think it’s the responsibility of funds to do what they can to bring some order back to the market.”
