Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Goldman Sachs jumps in and out of F&C

Goldman Sachs jumps in and out of F&C

Goldman Sachs bought and swiftly sold a large stake in F&C Asset Management just before the meeting to approve its takeover.

According to disclosures this week, on 19 March Goldman Sachs took its position in F&C from below 3% to 6.6%, worth around £47 million. Then on 21 March Goldman Sachs reduced that back below 3%.

F&C’s share price traded in a narrow band of between 122p and 120.7p through the period, implying a maximum possible loss for Goldman Sachs of 1.1%.

Had Goldman Sachs bought at the lowest possible share price on 19th and sold at the highest possible point on the 21st, it would have recorded a 0.4% gain.

On 25 March F&C shareholders accepted Bank of Montreal’s offer to acquire the company for £708 million.

Since the deal was first revealed in January, F&C’s share price has surged by 29%.

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: why Chris Wyllie joined Connor Broadley

Profile: why Chris Wyllie joined Connor Broadley

Professional footballers are not renowned for their financial acumen, but former Millwall player James Connor is an exception to the rule

Wealth Manager on Twitter