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.

Minority shareholders in F&C Commercial Property trust (FCPT) have rejected a proposed takeover by Ignis-managed UK Commercial Property trust (UKCPT) to create a £1.6bn vehicle.

First State has overhauled the £142m Pacific Assets Trust it recently took over from F&C, selling all but five of the existing stocks.