Macquarie substantial shareholder announcements
Hi MM team, As part of my investment routine, every day I read the announcements from the companies I hold and those I am interested in. I find MQG's shareholder announcements somewhat confusing in that it is not clear to me if the share holdings are only representative of Macquarie's direct investments (or through their subsidiaries). Are clients' investments factored into the shareholding? If there was no "external" money factored in the holding reported, then are changes in substantial holdings indicative of their view on a business? For example they ceased to be a substantial shareholder in Lendlease Group in August this year (i.e. could that be read as a SELL Lendlease?) Appreciate the education. Many thanks, Angela PS:I know this email will reach you after cut off time, so I understand it may not be covered this weekend.