Ariel's Hobson Hanging Onto Cash in Case of Market Correction [Bloomberg Business News]
CHINA MOBILE (CHL)
US:NYSE Investor Relations:
chinamobileltd.com/en/ir/reports.php
Company Research
Source: Bloomberg Business News
Chicago firm keeping “powder dry” in event of a pullback Ariel boosted China Mobile stake, also invested in Baidu Buoyant equity markets have Ariel Investments’ President Mellody Hobson moving to the sidelines, holding on to cash in the event a pullback creates buying opportunities. Chicago-based Ariel , which managed $11.8 billion as of June 30, currently weights cash at about 7 percent in its global portfolios, versus its usual target of less than 5 percent, Hobson said in an interview at Bloomberg’s Hong Kong bureau on Friday. It’s “just to have the powder dry in the event of any kind of pullback in the markets,” she said. “We don’t necessarily see a correction coming, but anything is possible. If there is a correction we think the fundamentals are very sound -- we’d be a buyer in this environment.” Investors are sanguine about potential threats to the rally, evidenced by the lack of a
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