ID :
146642
Tue, 10/19/2010 - 17:51
Auther :
Shortlink :
http://m.oananews.org//node/146642
The shortlink copeid
Future fund reduces Telstra holding
The Future Fund says it has reduced its holding of Telstra shares to 10 per cent
from 10.9 per cent, selling 113.6 million shares as of the close of business on
Tuesday.
General manager of the Future Fund Management Agency Paul Costello told a Senate
hearing on Tuesday the sale was conducted in an "orderly manner to avoid untoward
market impact".
He said proceeds from the sale would be integrated into the broader portfolio, and
the board would continue to assess its overweight of the communication giant.
"The Fund does continue to rebalance its portfolio by reducing its Telstra holding
in an orderly manner," he said.
from 10.9 per cent, selling 113.6 million shares as of the close of business on
Tuesday.
General manager of the Future Fund Management Agency Paul Costello told a Senate
hearing on Tuesday the sale was conducted in an "orderly manner to avoid untoward
market impact".
He said proceeds from the sale would be integrated into the broader portfolio, and
the board would continue to assess its overweight of the communication giant.
"The Fund does continue to rebalance its portfolio by reducing its Telstra holding
in an orderly manner," he said.
