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.

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 Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter