Sherborne ups stake in F&C to 18%

Activist investor Sherborne has increased its stake in F&C to 18% today with the purchase of 145,000 shares in the group, priced at 78.25p per share.

Edward Bramson, founder of Sherborne, has bought a total of £363k shares this week. On Tuesday Bramson acquired 125,852 ordinary shares at an average price of 77.59p per share, adding a further 195,000 shares yesterday at 77.42p each. The move comes after the head of Thames River Capital, Charlie Porter, sold £1.7m worth of F&C shares this week. He ditched a total of 2,031,893 shares priced at 82.63p each. Meanwhile Alain Grisay, the chief executive of F&C Asset Management, has dumped two-thirds of his interest in the group and is now left with 500,000 ordinary shares. Porter...