February 12, 2018 / 6:34 PM / a year ago

Bridgewater has taken short bet against Siemens

BERLIN, Feb 12 (Reuters) - Bridgewater Associates has taken a short bet against engineering group Siemens, according to Germany’s federal gazette Bundesanzeiger.

Bridgewater’s short position amounted to 0.9 percent of Siemens, Bundesanzeiger said on Monday, without giving more detail.

Bridgewater is the world’s largest hedge fund manager with around $160 billion in assets under management.

Short selling is driven by expectations that shares will fall, which means they can be repurchased at a lower price to make a profit.

Earlier on Monday, Bloomberg reported that Bridgewater had taken short bets against European companies to $14 billion, including a $1 billion bet against Siemens. (Reporting by Andreas Cremer. Editing by Jane Merriman)

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