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.

Gilbert sells £771k Aberdeen shares to 'diversify'

Gilbert sells £771k Aberdeen shares to 'diversify'

Aberdeen Asset Management's CEO Martin Gilbert has refreshed his pension by selling a chunk of shares held in his firm.

Gilbert has sold 300,000 shares from his pension fund at 257p per share equating to £771,000. The proceeds re-invested in Aberdeen's managed funds in a bid to diversify his portfolio.

Following the disposal Gilbert's stake in the company stands at around 6.8 million shares.

Gilbert's move comes just a few days after Aberdeen saw assets under management jump 6% in the first two months of the year.

Assets rose from £173.9 billion on 31 December 2011 to £184.4 billion on 29 February. Net inflows stood at £1.4 billion for the period with inflows into higher margin products adding £20 million in annual revenues.

Shares in Aberdeen closed last night on 259.1p, around 6p below their 52-week high.   

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: 'women make very good wealth managers'

Profile: 'women make very good wealth managers'

JM Finn's head of investment Sarah Soar warns women in positions of seniority will remain an anomaly for generations to come

Wealth Manager on Twitter