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BlackRock pours more cash into Charles Stanley

BlackRock pours more cash into Charles Stanley

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.

Charles Stanley has also attracted the likes of Clive Beagles and James Lowen, who owned 5.11% through their JOHCM UK Equity Income fund at the end of September.

Other investors in Charles Stanley include Anthony Cross and Julian Fosh, who controlled 3.82% at the end of November via their Liontrust UK Smaller Companies fund.

Meanwhile Andrew Brough and Rosemary Banyard's Schroders Institutional UK Smaller Companies fund had a 3.65% interest last February.

The BlackRock purchase comes after Charles Stanley acquired Evercore Pan Asset last November shortly after it posted a 44% jump in first half profit.

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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Roland Arnold
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