March 16, 2020 / 2:46 AM / 25 days ago

Australia's UniSuper to suspend stock lending programme indefinitely as markets slump

March 16 (Reuters) - Australian superannuation fund UniSuper said on Monday it would suspend its stock lending programme indefinitely and recall all shares currently out on loan, as global markets plunge on worries about the economic fallout from the coronavirus pandemic.

“We are now in a market gripped by panic and we believe that restricting the ability to short-sell is in the best interest of promoting a more orderly market,” UniSuper’s Chief Investment Officer John Pearce said in a statement. (Reporting By Rushil Dutta in Bengaluru; Editing by Kim Coghill)

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