FCAM Executive Chairman tops up his stake

17th May 2012 15:38

Edward Bramson, the Executive Chairman of F and C Asset Management, has increased his stake in the company with the purchase of 134,025 shares. The shares were bought for an average of 67.60p each costing a total of £90,601. Bramson became Executive Chairman in October of last year, before which he had been Chairman for around eight months. On Tuesday the company revealed the details of the second phase of its strategic review, which is focusing on the growth for the Wholesale, Consumer (Retail Funds and Investment Trusts) and Property businesses. The firm said Phase Two of its Strategic Review involves pursuing profitable growth for the Wholesale and Consumer businesses, "responding to customer needs in the advisory and self-directed channels and building on F&C's strengths in multi-manager products, direct marketing and its consumer brand awareness". FCAM will also enhance and expand its direct marketing capability, currently supporting its investment trusts, to support a wider product range. In Property, the group is looking to improve the distribution of core products through all distribution channels and develop a pan-European product. The week previous the company reported that it has seen strong investment returns in the first quarter offset by significant outflows of investor funds. By the end of March assets under management (AUM) had increased to £101.8bn from £100.1bn at the end of December. Top Director BuysF&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 134,025 @ 67.60p Value: £90,601Mercantile Investment Trust (The) (MRC) Director name: Mr Jeremy TigueAmount purchased: 5,117 @ 970.00p Value: £49,635Computacenter (CCC) Director name: Mr Greg LockAmount purchased: 12,673 @ 384.00p Value: £48,664NR