BlueBay founders sell
A round-up of the biggest director deals today so far.
BlueBay Asset Management's chief executive and chief investment officer have each raised more than £21m from selling part of their stakes in the manager of fixed income funds.
Co-founder Hugh Willis has always been chief executive of BlueBay since its inception in 2001. He previously worked at JP Morgan and Kleinwort Benson.
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Willis and Poole each sold 6.5m shares at 325p each. Both men will own 16.88m shares, which equates to 8.66% of the share capital.
London-based BlueBay had assets under management of $34.3bn at the end of 2009. It joined the Main Market on 22 November 2006.
In the six months to September 2009, profit before tax soared 202% to £26m and the dividend increased by 341% to 7.5p a share.
The BlueBay share price has risen by 264% in the past year.
Top Director Buys
BAE Systems (BA.) Director name: Mr Nicholas RoseAmount purchased: 25,000 @ 362.80p Value: £90,700
Golden Prospect Precious Metals Ltd. (GPM) Director name: Mr Malcolm BurneAmount purchased: 100,000 @ 54.50p Value: £54,500
Plant Health Care (PHC) Director name: Mr Jeremy ScudamoreAmount purchased: 25,000 @ 214.00p Value: £53,500
Longships (LONG) Director name: Mr Nathan Anthony SteinbergAmount purchased: 166,000 @ 15.00p Value: £24,900
Smiths News (NWS) Director name: Mr Dennis H MillardAmount purchased: 10,000 @ 118.20p Value: £11,820
Top Director Sells
BlueBay Asset Management (BBAY) Director name: Mr Hugh WillisAmount sold: 6,500,000 @ 325.00p Value: £21,125,000
BlueBay Asset Management (BBAY) Director name: Mr Mark PooleAmount sold: 6,500,000 @ 325.00p Value: £21,125,000
Utilico Emerging Markets Ltd. (UEM) Director name: Mr Charles JillingsAmount sold: 813,350 @ 125.50p Value: £1,020,754
General Electric (GEC) Director name: Mr Jeffrey R ImmeltAmount sold: 55,938 @ € 11.35 Value: € 634,874
Cranswick (CWK) Director name: Mr Martin T P DaveyAmount sold: 64,961 @ 770.00p Value: £500,200
Iimia Inv Trust (IIM) Director name: Mr Michael C PhillipsAmount sold: 342,205 @ 108.25p Value: £370,437
CSR (CSR) Director name: Mr Chris LadasAmount sold: 48,751 @ 491.05p Value: £239,392
Rexam (REX) Director name: Mr Graham ChipchaseAmount sold: 23,736 @ 276.60p Value: £65,654
