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.

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.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter