M&G's Dobell makes £25m from adding to BP during crisis

Tom Dobell's decision to double his stake in oil giant BP through the Gulf of Mexico disaster has paid off for the £5.85bn M&G Recovery fund manager, with the stake increasing in value by £25m.

Dobell, who already owned a large stake in the oil giant, bought an additional 40m shares after noting the group had become oversold due to the hysteria surrounding by the oil spill, he told the Telegraph. The manager added to his position at an average of 363p per share, worth £145.2m, more than the entire capital of many IMA UK All Companies sector funds. His decision has paid off handsomely in the months following, with Dobell making £25m from BP's share price climbing to 425.8p. "We were already investors, because we believed the company was halfway through its recovery from earli...