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Alpha FMC boss cashes in

The asset management specialist's shares are up a third over the past 12 months

Alpha FMC boss cashes in

Increased consolidation among asset managers has helped propel revenues – and the share price – at Alpha Financial Markets Consulting (AFM). Now, after the expiry of a one-year lock-in period post-float, chief executive Euan Fraser has realised some of these gains by selling off almost £1.5m-worth of shares at the end of November. He retains a 1.34 per cent stake in the company.

IC TIP: Buy at 223p

A rising regulatory burden for asset managers – which is partly to blame for growing merger and acquisition activity in the sector – boosted revenues for the specialist consultancy by more than third during the first half, helping to propel it into the black post-IPO. International expansion is also high on the agenda, particularly the US, where revenues grew by more than a quarter. Stateside headcount grew by two-thirds during the period.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AA Andrew Blowers03 Dec 1854,78590.7949,73963,9450.010
CVS  Richard Connell (ch)05 Dec 185,00061630,800115,0000.163
CVS  Richard Connell (ch)05 Dec 185,00061630,800120,0000.170
discoverIE  Malcolm Diamond (ch)04 Dec 185,362372.8519,99219,9070.027
Dunelm  William Reeve30 Nov 182,500550.4913,76215,0000.007
Dunelm  Laura Carr (cfo)30 Nov 1825,000552.52138,13025,0000.012
Electrocomponents Simon Pryce30 Nov 188,000514.641,16818,0000.004
Ferguson John Martin (ceo)05 Dec 1810,0004,917.01491,701117,2290.051
Fidelity Japan Trust Sarah MacAulay 03 Dec 1813,800142.819,70613,8000.010
Forbidden Technologies Ian McDonough (ceo)29 Nov 18800,0006.249,6003,062,8621.037
Frontier Developments♥ James Mitchell29 Nov 185,121851.943,626110,0440.284
Frontier Developments♥ James Mitchell30 Nov 1810,000867.786,770120,0440.310
Gooch & Housego David Bauernfeind 04 Dec 181,5001,40521,0751,5000.006
Gooch & Housego Brian Phillipson04 Dec 181,0001,42814,2801,0000.004
IronRidge Resources*Neil Herbert29 Nov 18500,00020100,000500,0000.162
IronRidge Resources*Vincent Mascolo (ceo)29 Nov 181,600,00020320,00013,500,0004.369
JPJ  Neil Goulden (ch)29 Nov 1810,00058358,30085,0000.114
JPJ  Neil Goulden (ch)30 Nov 1810,00058558,50095,0000.128
Just Eat Helen Weir 30 Nov 185,000589.199929,4605,0000.001
Kingfisher Claudia Arney05 Dec 1827,46023865,35527,4600.001
Location Sciences*David Rae (cfo)29 Nov 18666,6672.2515,0001,166,6670.351
Location Sciences*Mark Slade (ceo)29 Nov 184,444,4442.25100,0006,204,4441.865
Maistro*Ian Cleverly (cfo)04 Dec 183,000,000130,0003,250,0001.152
Maistro*Laurence Cook (ceo)04 Dec 181,500,000115,0001,750,0000.620
Maistro*David Rowe (ch)04 Dec 1815,000,0001150,00029,473,28610.448
Maistro*Richard Rae04 Dec 1810,000,0001100,00015,535,7145.507
Maistro*Preeti Mardia04 Dec 181,500,000115,0002,857,1421.013
Maistro*Richard Croft04 Dec 182,000,000120,0003,928,5711.393
Mineral & Financial Investments Jacques Vaillancourt (ch)30 Nov 18450,0005.46324,5846,664,00019.019
Plastics Capital♥ Keith Butler-Wheelhouse04 Dec 1825,00010827,000369,7980.948
Renewi Colin Matthews (ch)30 Nov 18100,0004040,000350,0000.044
Restaurant GroupAndrew McCue (ceo)03 Dec 1834,240145.2649,737154,8280.053
Restaurant Group♥ Alison Hewitt (ch)03 Dec 1813,659145.6419,89367,2970.023
Rio Tinto Jakob Stausholm29 Nov 1815,0003,664.35549,65315,0000.001
Robert Walters Robert Walters (ceo)04 Dec 1829,000514149,0602,267,1593.000
Sage  Jonathan Howell05 Dec 1844,000591260,04075,0000.007
Schroder Real Estate IT Stephen Bligh03 Dec 1839,00056.17121,90764,0000.012
Tate & Lyle♥ Warren Tucker05 Dec 184,321701.89430,3294,3210.001
Taylor Wimpey♥ Kevin Beeston (ch)04 Dec 18112,870131.7759148,735718,4320.022
Taylor Wimpey Jennifer Daly 05 Dec 1814,370139.17620,00015,5740.000
Temple Bar Investment Trust Lesley Sherratt05 Dec 1823,5001,182277,77031,0000.046
Ten Lifestyle  Andrew Long03 Dec 1865,67629.0619,0854,862,2496.029
Ten Lifestyle  Alex Cheatle (ceo)29 Nov 1865,6763019,70311,741,68414.559
Tesco Melissa Bethell30 Nov 1825,335197.3549,99925,3350.000
Thomas Cook  Frank Meysman (ch)04 Dec 18373,00021.566180,4421,070,0000.070
Thomas Cook  Lesley Knox04 Dec 1871,25922.3415,919117,3590.008
Thomas Cook  Lesley Knox04 Dec 18137,51922.7231,244254,8780.017
Tricorn  Andrew Moss (ch)05 Dec 18100,00019.519,500550,0001.627
Tullow Oil Dorothy Thompson (ch)05 Dec 1826,300190.350,04926,3000.002
UK Commercial Property REIT Robert Fowlds03 Dec 1850,00081.56440,78250,0000.004
Victrex Richard Armitage05 Dec 181,010231823,4122,0000.002
Victrex Richard Armitage04 Dec 18600240414,4246000.001
Victrex Jakob Sigurdsson04 Dec 181,9502,515.2849,0485,2000.006
VPC Specialty Lending Investments Kevin Ingram04 Dec 1830,0007622,80064,9680.018
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Alpha Financial Markets Consulting Euan Fraser (ceo)29 Nov 18678,0402181,478,1271,356,0811.341
Hays♥ Alistair Cox (ceo)30 Nov 181,100,000157.35791,730,9373,923,5270.269
HSBC  Iain Mackay (fd)04 Dec 1871,587674482,4961,246,9430.006
IronRidge Resources Nicholas Mather 05 Dec 18907,67819.52177,1792,290,3140.741
Murgitroyd  Kenneth Chrystie29 Nov 183,00055016,5002,5000.028
*Placing/tender/open offer ♥Spouse/connected party