Paul Singer, billionaire and chief executive officer of Elliott Management Corp., pauses during a session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 21, 2015. World leaders, influential executives, bankers and policy makers attend the 45th annual meeting of the World Economic Forum in Davos from Jan. 21-24. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Financial report shows how Milan’s owners are making money whilst others struggle

Good signs for Milan’s mercato? At least there are for the Rossoneri’s owners, Elliott Management, as their counter-parts decreased their portfolios by 8% on average.

The current Milan owners, Elliott Management, a vulture fund, grew its portfolio by 3.6% in the first quarter of 2020 when the coronavirus struck club – and world – economies the hardest.

According to an article from Yahoo Finance, Elliott Management saw their international fund increase by 2.2% and their Elliott Associates Fund increased by 1.6% in the first quarter (January-March). A total increase of Elliott’s assets by 3.6%.

While 3.6% might not seem much, to put it into perspective the average hedge fund portfolio decreased by 8% throughout the same period. Noteworthy is also that the average activist fund, which Elliott is also categorised as, decreased by 33% in the first quarter.

Whether this affects Milan’s mercato is unknown. But a club’s owners increasing its’ assets whilst other club owners bleed money must be seen as positive.

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