Dealings round-up: BlueBay duo cash in

published 18 September 2009

Two directors of BlueBay today took advantage of the recent tripling in its share price to trim their holdings in the fixed income fund manager.

A secondary placing of shares saw Nick Williams, Chief Financial Officer, sell 1m shares and Alex Khein, Chief Operating Officer dispose of 2m shares. The placing was priced at 290p per share.

BlueBay today announced an increase in assets under management in the year to June to $24.3bn from $21bn. The firm said $5.8bn of net inflows, predominantly from its institutional client base, came through in the second half of the fiscal year. Profits for the year fell to £17.5m from £50.1m, with underlying profits before one-offs at £22.3m.