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.
Mark Poole is also a co-founder of BlueBay and has been chief investment officer since it started trading. He has previously worked at Credit Suisse First Boston, 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.
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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
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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
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