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.

Kestrel ramps up Ashcourt Rowan holding as shares soar

Kestrel ramps up Ashcourt Rowan holding as shares soar

Small cap specialist Max Royde has upped his backing for financial advisor and investment manager turnaround stock Ashcourt Rowan.

Royde, manager of the Kestrel Opportunities fund, increased his stake in the business from 1.86 million shares to 1.89 million or 7.02% worth £2.49 million at a share price of 132p.

The increase follows the appointment of new chief executive Jonathon Polin, previously a director at Ignis Investment Management, and his announcement of a strategic redirection for the company.

Shares in Ashcourt Rowan are up 22.62% over the last six months versus the FTSE Financial 350 index return of 3.3% over that period.

The company has recently signed a number of distribution deals making its investment services much more widely available to financial advisers and retail investors on online trading platforms.

New chief executive Jonathan Polin, appointed in 2011, told investors at the end of last year of his ambition to make the group 'bomb proof' as he embarks on an overhaul of the firm.

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 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.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

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