Elliott Management Boosts F&C Asset Management Stake ~ market folly

Monday, March 24, 2014

Elliott Management Boosts F&C Asset Management Stake

Paul Singer’s hedge fund firm Elliott Management has increased its stake in F&C Asset Management (LON: FCAM). At the end of February, we noted that Elliott held the equivalent of 11% of FCAM’s voting rights.

But now due to trading on March 19th, Elliott has increased the position to 17.5%, with the whole position again held via contract for difference (CFDs/ derivatives).

Per Google Finance – “F&C Asset Management plc (F&C) is an asset management company.  The Company operates in three segments: F&C, F&C REIT and Thames River Capital (TRC). The  Company’s clients are insurance companies, institutional, retail and wholesale investors. The  Company manages portfolios across multiple asset classes on behalf of a range of clients including  insurance funds, pension schemes, public authorities and charities as well as private individuals through savings schemes, investment trusts and mutual funds. The Company’s subsidiaries include  FP Asset Management Holdings Limited, F&C Asset Management Services Limited, ISIS Investment Manager plc, F&C Managed Pension Funds Limited and F&C Treasury Limited.”

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