Soros Fund Management and Hargreaves Lansdown now among top shareholders
Quindell’s shares jumped 11.3% in trading yesterday after it emerged that big-name asset management firms had taken big stakes in the firm.
The insurance outsourcer’s share price closed at 112.44p yesterday, up from Monday’s closing price of 101p.
According to data reported by the Financial Times, Soros Fund Management, established by US business magnate George Soros, has a shareholding in the outsourcer.
It joins existing large shareholders M&G Investment Management, which owns 6.68% of Quindell, Toscafund Asset Management, which owns 5.38% and Fidelity Management & Research, which owns 4.9%.
Quindell shares have been volatile in the past week. The shares rose back above the £1 mark to 107p last Monday after the company hired Richard Rose and Jim Sutcliffe as chairman and deputy chairman respectively.
But the following day they fell by 19.3% to 86.25p and continued to trade below £1 for the rest of the week after criticism about the share options granted to Rose as part of his pay package.