Standard Life bets on F&C turnaround as Bramson exits

Scottish manager has become one of F&C's biggest shareholders in the past few months

Thursday 22 August 2013 at 17:47

As Edward Bramson steps down as chairman of F&C Asset Management, one of its leading shareholders has said it believes the firm's turnaround story will continue and has been buying up more shares in the past few months.

Standard Life Investments, the Scottish-owned fund manager, has become one of F&C's largest shareholders having increased its stake from 5% to 7% since May. It believes the market has been undervaluing the "unloved" firm.