F&C

F&C multi-manager Paul Carne and analyst Catherine Sauer are to join Thames River by the end of the year, with Carne heading up the Lifestyle fund range when it migrates across.

David Einhorn, the US hedge fund manager who publicly questioned the health of Lehman Brothers before its collapse, has offloaded the majority of his stake in F&C.

PROPERTY

INVESTMENT TRUSTS

F&C has seen pre-tax profits double for the first half of the year, though it suffered a £2.5bn drop in assets under management.

BONDS

F&C shares are higher again this morning after ‘turnaround specialists' Sherborne Investors doubled its stake in the asset manager to 10%.

F&C shares have soared almost 23% this morning after Sherborne Investors, a group which specialises in turning around recovery situations, took a 5% stake in the firm.

THE BIG QUESTION

F&C Asset Management has rejected accusations of bullying in a high court battle over a hedge fund joint venture hit hard during the credit crisis.