Schroders and Aberdeen reject Glencore

Aberdeen and Schroders have rejected Glencore after its listing this month, according to the commodities giants' share register.

The commodities trader has been unable to attract two of the biggest asset managers in London according to a report by The Times, with star fund manager Richard Buxton at Schroders deciding against purchasing the stock. Aberdeen managers have also not been tempted to subscribe to Glencore's initial public offering. The rejection by two leading fund managers comes following a lacklustre performance from Glencore since it listed Having traded at 530p after entering the FTSE 100 on Tuesday, shares have fallen to 525p in recent days.