- GQG Partners Inc.’s sale of Adani Energy Solutions Ltd. shares during Monday’s closing auction overwhelmed passive-fund demand and contributed to a 10% one-day slump.
- Hedge funds positioned ahead of the Aug. 31 MSCI rebalancing were also hurt because the unexpected supply disrupted their expectation of selling shares to index-tracking funds.
Quotes
“GQG Partners Inc.’s sale of Adani Energy Solutions Ltd. shares during India’s closing auction on Monday overwhelmed demand from passive funds”