US fund manager Fidelity Investments takes Xero shareholding

Tue, 09 Dec 2014

By Paul McBeth Dec. 9 (BusinessDesk) - US fund manager Fidelity Investments, with US$4.9 trillion under management, has built up a substantial shareholding in local software developer Xero. The global investor has taken a 5.4 percent stake in Xero, making it the fifth biggest shareholder in the accounting software firm, according to a filing with the NZX. Since Sept. 25, Fidelity, via its FMR LLC unit, has been buying shares in Xero between $15.84 and $21.61 a share, and holds 6.9 million shares in the Wellington-based company. That ra...

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