Deutsche Bank: shares jump on US investment manager's stake

(CercleFinance.com) - US investment manager Capital Group has a stake of over 3% in Deutsche Bank, the German lender said on Thursday, sending its shares to their highest level in over a year.


Deutsche Bank said in a regulatory filing that Capital Group, one of the world's oldest and largest investment managers, now holds 3.1% of its voting rights.

The move reflects a sign of confidence from the Los Angeles-based pension fund, which manages over 1.9 trillion dollars in assets and boasts "superior results" for long-term investors, using high-conviction portfolios, rigorous research and individual accountability.

Deutsche Bank shares jumped by up to 12.5% following this announcement, reaching their highest since October 2018.

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