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Henderson sells £1 million stake in Ashcourt Rowan
by Robert St George on Sep 20, 2013 at 07:50
Shares worth approximately £1 million in AIM-listed Ashcourt Rowan have been sold by Henderson.
The trade took Henderson’s holding in the wealth manager, which is run by Jonathan Polin (pictured), down from 3,673,409 shares to 3,183,182.
The sale follows a spike in Ashcourt Rowan’s share price of 26% to the £2 mark since the start of August; in the year until that month the stock had gained only 5%.
In the group’s most recent results, for the year to 31 March, Ashcourt Rowan revealed that its total assets under management had fallen from £4.1 billion to £3.7 billion. The firm’s pre-tax loss remained the same at £2.5 million, while its headcount was cut from 322 to 280.
The move represents the second disposal in a few weeks after Henderson sold a small chunk of shares in the firm on 9 September.
Shares in Ashcourt closed at 198p last night, a loss of 1.25% on the day.
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