Thames River chief sells 2m F&C shares

Thames River Capital boss Charlie Porter has sold F&C shares worth around £1.7m after investing in a number of the group's funds.

Porter sold 2,031,893 shares in F&C Asset Management at 82.63p per share, totalling £1.68m. Porter made the sale after investing in a range of funds at the group. He has backed the F&C European Absolute Return fund, managed by new hire Randeep Grewal. He also invested in the F&C UK Equity fund, run by Peter Lees, as well as the Thames River Global Emerging Markets fund. Porter has seeded the Thames River Isis fund which launched earlier this month. It was previously known as the Nevsky fund. Porter now has 11.6m shares in FCAM within the group's incentive and retention plans.