The success of the Treasury's 12.5% placement of Monte dei Paschi di Siena can be attributed to international finance, specifically Wall Street. According to the MF-Milano Finanza newspaper, American funds led the fast bookbuild, followed by BofA, Citigroup, Jefferies, and Mediobanca, earning the state 650 million. Wellington Management of Boston ($1,400 billion in assets under management) placed large orders, increasing its holding in the Sienese bank. Vanguard, a mutual fund giant, Soros Fund Management, and Fidelity have also made strides in this regard. Additionally, the market has become familiar with the name Fidelity, which participated in the 25% placement last November. Europeans also responded positively. The Marshall Wace hedge fund, which oversees $64 billion in assets, relocated here. Overall, 35% of the orders were from American investors, 50% from the United Kingdom, 13% from Italy, and the remaining 2% from around the world.
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