Senior Funds Correspondent
Raji's Feed
Apr 1, 2010

UK’s Prudential prospectus due late April-sources

LONDON, April 1 (Reuters) – Prudential <PRU.L> will publish
a prospectus for its $21 billion rights issue in late April,
sources familiar with the situation said, giving insight into
the insurer’s landmark AIG deal that is dividing investors.

The prospectus is expected to come a few weeks before the
British group asks shareholders to approve its $35.5 billion
takeover of AIG’s <AIG.N> Asian operations, the sources said.

Mar 30, 2010

Gartmore suspends top fund manager

LONDON, March 30 (Reuters) – UK fund firm Gartmore <GRTR.L>
suspended a top fund manager on Tuesday as it probed a breach of
internal procedures, sending shares plunging to almost half the
level at its initial public offering three months ago.

In a statement, Gartmore said Guillaume Rambourg, a close
colleague of Gartmore’s most high-profile fund manager Roger
Guy, was suspended pending the outcome of an internal
investigation into whether he had been “directing trades”.

Mar 30, 2010

Investors back Forth Port’s rejection of offer

LONDON, March 30 (Reuters) – Major investors in Forth Ports
Plc <FPT.L> have backed its decision to reject an approach from
a trio of shareholders and hold out for a higher bid.

Top investors who met the management last week told Reuters
they had encouraged the group to engage with the consortium of
would-be buyers to arrive at a “sensible price”.

Mar 26, 2010
via Funds Hub

Tutting investors force F&C to ditch deal

UK fund firm F&C has received a slap on the wrist from its largest shareholders over plans to acquire an Austrian fund manager.

Investors want F&C to cement its recent turnaround in investment performance which resulted in net inflows at the start of 2010, rather than have the distraction of an acquisition. The company today said it was ditching plans to acquire Vienna-based quant specialist C-Quadrat just three  days after submitting offer documents.

Mar 26, 2010

Investors push F&C to drop bid for C-Quadrat-source

LONDON, March 26 (Reuters) – F&C Asset Management <FCAM.L>
dropped its bid for Austria’s C-Quadrat <C81.DE> after the
British fund firm’s largest investors urged it to focus on
improving share value, a source close to the fund firm said.

F&C said on Friday it had decided not to proceed with its
potential offer for the Vienna-based fund manager, which
specialises in quantitative funds of funds and multi-asset
products, just three days after submitting offer documents.

Mar 26, 2010
Mar 19, 2010

Arriva investors say D. Bahn should offer more

LONDON, March 19 (Reuters) – Two top ten shareholders in
Arriva Plc <ARI.L> said suitor Deutsche Bahn AG [DBN.UL] should
offer considerably more than Arriva’s current share price to
reflect the strategic value of the British transport group.

Deutsche Bahn revealed the preliminary takeover approach
earlier this week, after market talk of a 700-pence-a-share bid,
but neither it nor Arriva disclosed an offer price.

Mar 19, 2010

Risk revival seen boosting absolute return funds

LONDON, March 19 (Reuters) – Institutional investors such as
pension funds, which pulled out of equity and hedge fund-like
products during the financial crisis, are showing signs of a
robust return as risk appetite grows.

The trend is a fillip for fund houses, but fund chiefs
expect the landscape to evolve to give little room for so-called
“core” products which aim for only a modest outperformance at
extra cost.