Takeover targets escape the contagion
- From: Vol 12, Issue 8 (August 2011)
- Category: Analysis
- Region: Unspecified
- Country: United Kingdom
- Related Companies: Cheung Kong Group, Nalco and Ranhill Utilities
Investor-owned water utilities provided the best defence strategy against the recent market meltdown. Nevertheless, the top three performers in the GWI Global Water Index this month were all the subject of takeover bids.
Exposure to a weighted portfolio of global water stocks would have offered a reasonable degree of protection against the general contagion which hit the equity markets last month. The GWI Water Index, which tracks the performance of 73 companies with significant water exposure, returned -13.8% over the period, beating most of the major stock indices, including the benchmark MSCI ...
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