Wednesday, August 4, 2010

US-based fund buys 5% of Zelan

KUALA LUMPUR: US-based fund Grantham, Mayo, Van Otterloo & Co (GMO) has emerged as a substantial shareholder in ZELAN BHD [] with'' a 5.02% stake.

A company filing with Bursa Malaysia showed the global investment management firm had acquired 28.28 million shares as of Aug 2.

GMO is a private partnership and as at June 30, 2010, it managed more than US$94 billion in client assets, US$32 billion of which was in asset allocation strategies.

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