Twin sale of shares at Brooks MacDonald

published 7 October 2011

The founding director and chief investment officer (CIO) of Brooks MacDonald have each sold 10,000 shares in the firm at 1,211p.

The man behind the investment fund management firm, Chris MacDonald, who also holds the role of chief executive officer, made the £121,100 sale alongside his co-worker and CIO, Richard Spencer, less than one month after the firm announced a 37% rise in underlying pre-tax profit to £7.8m.

MacDonald was clearly pleased with the result, saying at the time, "this has been another year of significant growth for the group."

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The firm is currently working on plans to continue to grow its discretionary funds under management through organic investment, acquiring investment management teams, expanding its regional presence and developing its product and service offering.

Although the firm's share price fell on the news of the sales, over the past year it has risen more than 34%.

A number of takeovers during the past 12 months have boosted the firm's funds under management to almost £3bn, with MacDonald recently saying that he has another £13m available for further investment and acquisitions.

Top Director Buys

British Polythene Industries (BPI)

Director name: Mr Ian Russell

Amount purchased: 10,000 @ 325.00p

Value: £32,500

St Ives (SIV)

Director name: Mr Richard Stillwell

Amount purchased: 20,000 @ 76.60p

Value: £15,320

Top Director Sells

Brooks Macdonald Group (BRK)

Director name: Mr Chris A MacDonald