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BlackRock pours more cash into Charles Stanley
by Dylan Lobo on Jan 21, 2014 at 15:09
BlackRock has upped its stake in Charles Stanley beyond the 5% mark.
BlackRock now owns a 5.36% stake in Charles Stanley following a share purchase dated 15 January, according to an announcement posted on the London Stock Exchange. This brought the fund management group's total position up to 2.4 million shares.
At 1.50pm shares in Charles Stanley, led by Sir David Howard (pictured), were trading at 506.8p, the level they started the day on.
According to Reuters, Ralph Cox's BlackRock UK Smaller Companies fund and James MacPherson's BlackRock UK Equity fund were investors in Charles Stanley at the end of August 2013, owning 1.13% and 0.02% respectively. The data also shows BlackRock held a 3.86% position at the end of June.
The firm has also made no secret of its desire to expand it regional presence, which saw it recruit a team from Brewin Dolphin for a new Leicester office and indicated it was looking to open its first branch in Wales at some point in the near future.
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