One of the mysteries of the English language finally explained.
A fund which invests in companies or properties which are performing poorly and may therefore be undervalued.
- ‘Such complacency, they argue, only encourages the vulture funds to target investment trusts with wide discounts.’
- ‘The slowdown in the commercial property market in Ireland may lead to vulture funds looking to obtain short-term value in the Irish market.’
- ‘They are caused by lack of demand and can mean big profits for vulture funds.’
- ‘Vulture funds buy shares in investment trusts with wide discounts and force a vote that compels trusts to offer a cash exit to shareholders at close to net asset value.’
- ‘Bottom feeders, the vulture funds, are an important part of the process in a recovery like this.’
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