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.

Pensions giant near doubles Hargeaves stake

Pensions giant near doubles Hargeaves stake

Dutch pension giant APG has near doubled its stake in Hargreaves Lansdown from 8.3 million shares to 14.3 million or just over 3% of equity in the business, worth £214.8 million at a share price of £14.93. 

Shares in the company closed just over 1% higher as the trade was reported to the stock market yesterday, almost a week after company co-founder Stephen Lansdown cashed in more than 17.2 million shares worth more than £190 million.  

The sale took Lansdown's holding in the business from 15% of the shares to 12.3%. He remains the second largest investor in the business, behind co-founder and former business partner Peter Hargreaves with 32.2%. BlackRock trails some distance behind on third with 6% of shares. 

Lansdown has been trimming his stake in the business in recent years, selling £200 million worth of shares in 2014 and £58 million in 2010. 

While relatively unheralded in the UK, APG manages one of the world's largest pension funds as the in-house asset management division of Dutch civil service pension provider ABP, with approximately €344 billion (£306 billion) in client funds.  

Ahead of the sale last week, Lansdown joined Wealth Manager for an exclusive video chat.

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 French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Read More
Wealth Manager on Twitter