F&C

THE BIG QUESTION

ON EUROPE

THE BIG QUESTION

Alain Grisay, the former chief executive of F&C Asset Management, has passed away.

The appearance of a high-profile activist investor on F&C's share register has added to the uncertainty surrounding BMO's acquisition of the asset manager.

Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.

F&C shares have jumped by more than 20% after the group said it has received a takeover approach from Canada's Bank of Montreal (BMO).

Wealth managers are positioning clients' portfolios cautiously this quarter amid expectations of a setback for equity markets, despite growing appetite for risk among investors.

Thames River chief executive Toby Hampden-Acton has become the latest senior figure to leave F&C.

Investors looking at asset managers' shares should be buying into Jupiter, Schroders and Aberdeen this year, as major acquisitions and RDR continue to benefit the three businesses, according to JPM Cazenove analysts.