Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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
Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Play Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Sophie Earnshaw talks through what Xi Jinping's 'new era' means for investors. and why Chinese tech offers some of best growth stocks in the world.

Read More
Your Business: Cover Star Club

Profile: JM Finn on why the future is with financial planners

Profile: JM Finn on why the future is with financial planners

There is a lot of work on pension consolidation and Sipps have been a big driver there, says JM Finn chief executive

Wealth Manager on Twitter