Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter