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Who bought & sold Brewin after £32m tech writedown
by Dylan Lobo on Jul 09, 2014 at 11:29
Citywire AA-rated Martin Cholwill was the biggest Royal London investor on 12 June with a 2.89% stake through his UK Equity Income fund. 'There has been a transitional management, so there is an orderly handover. I don’t think there is anything to worry about with the management change, he told Wealth Manager in April.
These trades were countered by big investments from Fidelity and Aviva Investors, which bought 2.08 million and 1.8 million shares respectively, lifting their interests to 7.35% and 3.88%.
After March's Budget Wright was excited by the opportunity chancellor George Osborne’s shock overhaul to pensions presented to Brewin. ‘The Budget is [a] positive for wealth managers as it encourages saving and means pensioners will need more help managing their assets in retirement,' Wright said.
‘A key position is Brewin Dolphin which also benefits from internal change as a new management team focus on cutting costs and raising margins closer to those of peers.'
Unicorn Asset Management’s purchase of 500,000 shares through the Unicorn UK Income fund, which was managed by the late John McClure, was another notable trade. The moved lifted the fund’s stake to 2.81%.
Beyond the eye-catching trades, other top investors in Brewin kept their positions more or less steady.
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