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View the article online at http://citywire.co.uk/wealth-manager/article/a657934

Martin Gilbert sells £4m Aberdeen stake

by Dylan Lobo on Feb 11, 2013 at 08:10

Martin Gilbert sells £4m Aberdeen stake

Aberdeen Asset Management chief executive Martin Gilbert has sold a £4 million stake in the firm.

According to filing on the London Stock Exchange on 8 February, Gilbert (pictured) sold one million shares at a price of 403.5p each.

The transaction reduces Gilbert's holding to around 7.8 million shares.

The improvement in sentiment in the second half of last year has seen share prices in the asset management sector soar and Aberdeen has been one of the most popular plays.

Shares closed at 403.7p on Friday, leaving them well above a year-low of 237.3p and just shy of a high of 422p, which they hit on 28 January.

Gilbert has gradually been reducing his exposure to Aberdeen recently as part of a mission to diversify his portfolio.

Last September he netted £1.53 million from the sale of 500,000 shares, which he reinvested into farmland.

 

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