Schroders director buys stock as partnership is announced
A round-up of the biggest director deals today so far.
Robin Buchanan, an independent non-executive director of Schroders, the FTSE 100 asset management firm, has bought 205 non-voting ordinary shares in the firm for 1,212p each.
The move takes his total to 2,368 non-voting shares.
Buchanan, 59, joined the board in March 2010, and is a member of the firm's Audit and Risk Committee.
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On the same day his purchase was announced, it was reported that food giant Nestl had named Schroders as its partner in the running of an investment vehicle with its in-house asset manager.
In the announcement made on the Irish Stock Exchange, Robusta Asset Management, which is wholly-owned by Nestl, appointed Schroders to manage its emerging markets fund.
Back in November, when the firm last released a set of results, revenues and profits were up on 2010 but the key "assets under management" figure (AUM) remained static during the third quarter.
Top Director Buys
Bank of America Corp. (BAC)
Director name: Mr Donald E. Powell
Amount purchased: 10,000 @ $7.70
Value: $77,000
Helius Energy (HEGY)
Director name: Mr William Ingram Hill
Amount purchased: 635,000 @ 11.00p
Value: £69,850
Sierra Rutile Ltd (SRX)
Director name: Mr Jan Alex Castro
Amount purchased: 100,000 @ 63.50p
Value: £63,500
Future (FUTR)
Director name: Mr Peter Allen
Amount purchased: 100,000 @ 11.25p
Value: £11,250
Future (FUTR)
Director name: Mr Peter Allen
Amount purchased: 100,000 @ 10.00p
Value: £10,000
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