Non-exec buys initial stake in Aberdeen

Aberdeen Asset Management non-executive director Gerhard Fusenig has bought his first shares in the fund manager since he was appointed to the board on 8 October 2009.

Fusenig invested nearly £129,000 in 100,000 shares, which cost 128.84p each.

Fusenig is Co-Chief Operating Officer of Asset Management and Head of Asset Management EMEA of Credit Suisse Asset Management.

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

Aberdeen recently bought certain fund management assets and contracts of RBS Asset Management for £84.7m. This includes £13.5bn of assets under management.

Aberdeen had a 'successful' last three months of 2009, with gross new business wins more than 3 times the figure for the fourth quarter of 2008.

Wins for the period of £9.6bn compared with £2.6bn a year earlier, with a further £3.1bn of new mandates awarded but not funded at the end of December.

Redemptions of £12.2bn were largely from the lower margin fixed income and money market products, said the firm, resulting in an overall net outflow of £2.6bn, less than last year's £4.3bn.

Total assets under management dipped 1.4% to £144.1bn - prior to the RBS purchase.

Top Director Buys

Travis Perkins (TPK) Director name: Mr Geoff CooperAmount purchased: 21,556 @ 740.42p Value: £159,605

Norseman Gold (NGL) Director name: Mr David Christian SteinepreisAmount purchased: 200,000 @ 41.52p Value: £83,040

Aberdeen Asset Management (ADN) Director name: Mr Gerhard Fusenig Amount purchased: 100,000 @ 128.84p Value: £128,840

Travis Perkins (TPK) Director name: Mr John P CarterAmount purchased: 15,089 @ 740.42p Value: £111,722

Travis Perkins (TPK) Director name: Mr Paul N Hampden SmithAmount purchased: 15,089 @ 740.42p Value: £111,722

Smith & Nephew (SN.) Director name: Mr Ian Barlow Amount purchased: 10,000 @ 680.50p Value: £68,050

Travis Perkins (TPK) Director name: Mr Andrew PikeAmount purchased: 6,035 @ 740.42p Value: £44,684

Top Director Sells

Diageo (DGE) Director name: Mr Paul S WalshAmount sold: 99,000 @ 1,100.00p Value: £1,089,000

Croda International (CRDA) Director name: Mr Michael HumphreyAmount sold: 53,308 @ 917.91p Value: £489,319

Morrison (Wm) Supermarkets (MRW) Director name: Mr Mark GunterAmount sold: 130,864 @ 295.50p Value: £386,703

Morrison (Wm) Supermarkets (MRW) Director name: Mr Richard PennycookAmount sold: 125,629 @ 295.50p Value: £371,234

Morrison (Wm) Supermarkets (MRW) Director name: Mr Martyn JonesAmount sold: 69,371 @ 295.50p Value: £204,991

Centamin Egypt (CEY) Director name: Mr Stuart BottomleyAmount sold: 150,000 @ 124.94p Value: £187,410

British American Tobacco (BATS) Director name: Mr Ben StevensAmount sold: 7,324 @ 2,237.75p Value: £163,893

Spectris (SXS) Director name: Mr Roger StephensAmount sold: 7,176 @ 826.15p Value: £59,285

Spectris (SXS) Director name: Mr John O'HigginsAmount sold: 7,186 @ 822.00p Value: £59,069

Pennon Group (PNN) Director name: Mr C I J H DrummondAmount sold: 7,298 @ 527.60p Value: £38,504