Sherborne sticks firm to Barclays revamp plan despite plunging NAV
Reuters
Published Aug 20, 2020 07:35
LONDON (Reuters) - Activist Sherborne Investors (L:SIGC) has committed to pursuing a shake-up in the management and strategy at Barclays (L:BARC), despite posting a 56% fall in its net asset value (NAV) in the last six months to 351 million pounds ($459.32 million).
The investment vehicle, which is backed by several major British fund firms including Aviva (L:AV), Schroders (L:SDR) and Jupiter Asset Management (L:JUP), said it would continue its dialogue with Barclays "for as long as it appears to be appropriate to do so".
The investor said it currently holds a 5.9% stake in the lender following recent stock purchases. The Barclays share price has fallen by around 36% in the six months to June 30.
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Written By: Reuters
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