Potholes not pitfalls on Macquarie’s road
How close did Macquarie get to the edge?
Macquarie’s departures from its listed funds are happening in a variety of ways. One key deal came when the bank sold its Macquarie Communications Infrastructure Group – which contains the communications assets Broadcast Australia, Arqiva and Airwave – to the Canada Pension Plan Investment Board for A$3 a share shortly after the fund itself was trading at 83 cents. Moore sees this as vindication of his view that the underlying assets in the funds are far better than the listed markets think they are.
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