FCAM Executive Chairman tops up his stake

Edward Bramson, the Executive Chairman of F and C Asset Management, has increased his stake in the company with the purchase of 134,025 shares.

The shares were bought for an average of 67.60p each costing a total of £90,601.

Bramson became Executive Chairman in October of last year, before which he had been Chairman for around eight months.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

On Tuesday the company revealed the details of the second phase of its strategic review, which is focusing on the growth for the Wholesale, Consumer (Retail Funds and Investment Trusts) and Property businesses.

The firm said Phase Two of its Strategic Review involves pursuing profitable growth for the Wholesale and Consumer businesses, "responding to customer needs in the advisory and self-directed channels and building on F&C's strengths in multi-manager products, direct marketing and its consumer brand awareness".

FCAM will also enhance and expand its direct marketing capability, currently supporting its investment trusts, to support a wider product range. In Property, the group is looking to improve the distribution of core products through all distribution channels and develop a pan-European product.

The week previous the company reported that it has seen strong investment returns in the first quarter offset by significant outflows of investor funds.

By the end of March assets under management (AUM) had increased to £101.8bn from £100.1bn at the end of December.

Top Director Buys

F&C Asset Management (FCAM)

Director name: Mr Edward Bramson

Amount purchased: 134,025 @ 67.60p

Value: £90,601

Mercantile Investment Trust (The) (MRC)

Director name: Mr Jeremy Tigue

Amount purchased: 5,117 @ 970.00p

Value: £49,635

Computacenter (CCC)

Director name: Mr Greg Lock

Amount purchased: 12,673 @ 384.00p

Value: £48,664

NR