F&C share price surge helps Bramson’s Sherborne prosper

Michael Bow
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SHERBORNE Investors, the outfit led by activist investor Ed Bramson, made a consolidated profit of £44.3m last year after shares in money manager F&C soared 56 per cent over the year, results showed yesterday.

Bramson, who holds a 21.2 per cent stake in FTSE-listed F&C Asset Management, took control of the faltering outfit after a boardroom coup in early 2011.

His investment vehicle – Sherborne Investors (Guernsey) A – yesterday said £3.4m of dividend income and a £42.5m gain on the F&C investment had helped deliver its bottom line consolidated profit.

Bramson’s Sherborne Investors works by setting up listed vehicles that identify target companies to make turnaround investments in.

The sister fund to the A fund – Sherborne Investors (Guernsey) B – is currently stalking listed private equity group 3i after revealing a small stake last month.