F&C

UK mid-cap companies have been the sweet spot of the domestic investment universe of late, returning around double the amount achieved by the largest UK companies, but where are the best opportunities now?

F&C Investments has hired ex-Aberdeen manager Scott Spencer to work on its multi-manager team, reuniting him with Gary Potter and Rob Burdett.

F&C's shareholders have approved the takeover of the company by the Bank of Montreal following a vote held today.

Activist investor Elliott Associates has built its stake in F&C Asset Management to 20%, ahead of a £700m deal to sell the firm to a Canadian bank.

Friends Life is to pull a further £15bn of assets from F&C Asset Management by the end of the year, with the majority going to Schroders.

F&C's Ted Scott has retired from F&C after a 30-year career at the firm.

Value is drying up among the largest investment trusts in the market, with discounts shrinking as buyers favour more liquid products.

Fund buyers are increasing their exposure to absolute return equity funds to take advantage of sharp falls by companies which miss earnings estimates.

Activist US hedge fund Elliott Associates has upped its stake in F&C to 11% ahead of the asset manager's planned £708m takeover by Canada's BMO.

F&C has warned investors that its revenues will be lower than expected this year, ahead of its planned takeover by Canadian giant Bank of Montreal.