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's AAA-rated Plackett takes profit on Rathbones

BlackRock’s Citywire AAA-rated head of small caps Richard Plackett has taken profits on his stake in asset manager and financial adviser Rathbone Brothers as its share hit a record high.

Placket sold down his stake in the business, which had stood at 117,807 shares worth £1.82 million at a share price of £15.49, up 90% over the last three years versus a FTSE 250 return of 48%.

The shares are held in his BlackRock UK Emerging Companies Hedge fund, which he runs alongside long-time co-manager Ralph Cox.

The private client investment management sector has been on a tear over the past year as asset prices have risen hard. In an interim statement last month Rathbones reported assets under management up 12% since 2012, to a record £20.1 billion.

Broker Canaccord Genuity reduced its recommendation on the company from buy to hold following the announcement.  Numis has a reduce recommendation while Shore Capital rates it a hold.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter