The Chinese for-profit education sector is not popular with investors at the moment. This is a key reason why a contrarian buy into the sector from a notable institutional investor drove TAL Education Group‘s (NYSE: TAL) up by just under 9% on Friday.
The buyer is UBS (NYSE: UBS) Asset Management (Americas), which divulged in a regulatory filing that it now holds a stake of just over 4% in TAL. As the filing is purely informational, the company did not reveal the reasons for its decision.
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