Ink a few of you are seeing this a bit wrong and getting a bit excited about nothing.
NAB has to report when it's associated enrities hold above 5% in total. In a massive organisation like NAB (refer to the hundreds of entities in the annexure)this is not a direct investment of it;s own equity/shareholders funds, but mainly BLY shares held in Investment and Superannuation of it's many entities. This could be your own emplyer sponsored suer fund, an "Overseas" fund of say Clydesdale Bank in the UK, or part of an MLC fund in Australia. I personaly invested some funds during the reported period in BLY through my MLC Masterkey Superannuation Fund ( a great product, not aself manged fund, that allows you to invest and trade in individual stocks in your super) so my little trade is included in NAB figures for reporting purposes.
You will see that all the major financial institutions will appear in the major shareholders in large companies especially because of this.
Companies such as NAB have become very vigilant in their reporting in this area since the ANZ/Opes Prime fiasco when ANZ was able to claim ownership and sell huge percentages of companies shares held in investers names that ANZ had in fact never reported that it had even in fact had a significant interest in. This question lingers in legal provcedings against ANZ.
BLY Price at posting:
19.8¢ Sentiment: Hold Disclosure: Held
