Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BlackRock hedge fund lifts Rathbones stake above 3%

BlackRock hedge fund lifts Rathbones stake above 3%

The BlackRock UK Emerging Companies hedge fund has lifted its stake in Rathbones to beyond 3%.

The fund, which is managed by Richard Plackett (pictured) and Ralph Cox, bought 117,807 shares in the firm on 4 January, accounting for a 0.26% stake.

This interest sits alongside the 1,276,046 contracts for difference (CFDS) the fund holds and increases the total position to 3.02%. 

The move comes after a busy 2012 for Rathbones in which it made a number of acquisitions, starting with the purchase of London-based wealth manager RM Walkden & Co in April and concluding with the £10 million acquisition of Taylor Young Investment Management's wealth business in November.

To facilitate the Taylor Young deal Rathbones raised £24.7 million through a placing and intends to use a significant portion of these proceeds to fund further acquisitions.    

Moving into the afternoon session shares in Rathbones were trading at £13.34, a gain of 7p on the day.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: How David Esfandi is shaping Canaccord Genuity WM

Profile: How David Esfandi is shaping Canaccord Genuity WM

After six months as chief executive of Canaccord Genuity David Esfandi's ambitions are taking shape

Wealth Manager on Twitter