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Systematica shorts National Express as losses go up 147%

Shareholders have lost more than 70% in the past five years

By Bilal Jafar
Birmingham-headquartered National Express — which rebrands to Mobico as of June — has struggled to turn a profit since 2019
Birmingham-headquartered National Express — which rebrands to Mobico as of June — has struggled to turn a profit since 2019 Photo: Chris J. Ratcliffe/Getty Images

Jersey-based hedge fund Systematica Investments has placed a short bet against National Express as the coach company's losses continue to rise.

The hedge fund has a 0.90% net short position against the £728m British multinational public transport firm, the latest disclosure to the UK’s Financial Conduct Authority shows.

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