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BlueBay founders sell
Tue, 07 Feb, 2012
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BlueBay founders sell
Fri, 19 Feb 2010, 16:58:00
<b>BlueBay Asset Management</b>'s chief executive and chief investment officer have each raised more than £21m from selling part of their stakes in the manager of fixed income funds. Co-founder Hugh Willis has always been chief executive of BlueBay since its inception in 2001. He previously worked at JP Morgan and Kleinwort Benson. Mark Poole is also a co-founder of BlueBay and has been chief investment officer since it started trading. He has previously worked at Credit Suisse First Boston, JP Morgan and Kleinwort Benson. Willis and Poole each sold 6.5m shares at 325p each. Both men will own 16.88m shares, which equates to 8.66% of the share capital. London-based BlueBay had assets under management of $34.3bn at the end of 2009. It joined the Main Market on 22 November 2006. In the six months to September 2009, profit before tax soared 202% to £26m and the dividend increased by 341% to 7.5p a share. The BlueBay share price has risen by 264% in the past year. <b>Top Director Buys</b> BAE Systems (BA.) Director name: Mr Nicholas Rose Amount purchased: 25,000 @ 362.80p Value: £90,700 Golden Prospect Precious Metals Ltd. (GPM) Director name: Mr Malcolm Burne Amount purchased: 100,000 @ 54.50p Value: £54,500 Plant Health Care (PHC) Director name: Mr Jeremy Scudamore Amount purchased: 25,000 @ 214.00p Value: £53,500 Longships (LONG) Director name: Mr Nathan Anthony Steinberg Amount purchased: 166,000 @ 15.00p Value: £24,900 Smiths News (NWS) Director name: Mr Dennis H Millard Amount purchased: 10,000 @ 118.20p Value: £11,820 <b>Top Director Sells</b> BlueBay Asset Management (BBAY) Director name: Mr Hugh Willis Amount sold: 6,500,000 @ 325.00p Value: £21,125,000 BlueBay Asset Management (BBAY) Director name: Mr Mark Poole Amount sold: 6,500,000 @ 325.00p Value: £21,125,000 Utilico Emerging Markets Ltd. (UEM) Director name: Mr Charles Jillings Amount sold: 813,350 @ 125.50p Value: £1,020,754 General Electric (GEC) Director name: Mr Jeffrey R Immelt Amount sold: 55,938 @ € 11.35 Value: € 634,874 Cranswick (CWK) Director name: Mr Martin T P Davey Amount sold: 64,961 @ 770.00p Value: £500,200 Iimia Inv Trust (IIM) Director name: Mr Michael C Phillips Amount sold: 342,205 @ 108.25p Value: £370,437 CSR (CSR) Director name: Mr Chris Ladas Amount sold: 48,751 @ 491.05p Value: £239,392 Rexam (REX) Director name: Mr Graham Chipchase Amount sold: 23,736 @ 276.60p Value: £65,654
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