Artemis' Frost buys StanChart as leading shareholder eyes sale

The managers of the £4.4bn Artemis Income fund bought into Standard Chartered last month, but the bank's leading shareholder is reportedly looking to offload its stake.

Artemis Income managers Adrian Frost (pictured) and Adrian Gosden initiated a position in the bank last month, buying in during a tough spell for the bank during which its share price fell sharply as a US regulator accused it of breaching sanctions on Iran. Standard Chartered shares fell 16.4% on 7 August as investors fretted over the implications of the accusations, prompting Frost and Gosden to add the bank to their Income fund, as well as to the £554m High Income fund. "Notable activity in August was a new position in Standard Chartered, successfully exploiting the over-reaction of...