- F&C Asset Management
company_name = F&C Asset Management Plc
company_type = Public (lse|FCAM)
foundation = 1972
key_people = Robert Jenkins,
revenue = £264.5 million (2007)
operating_income = £28.8 million (2007)
net_income = £18.7 million (2007)
homepage = [http://www.fandc.com www.fandc.com]
F&C Asset Management Plc (lse|FCAM) is a leading asset management company.Unlike many asset managers which are divisions of large financial firms such as
banks, F&C Asset Management (known as F&C) is a standalone publicly-listed asset manager. It is an active shareholder with a strong commitment to corporate social responsibility. It is listed on the London Stock Exchangeand is a constituent of the FTSE 250 Index.
The Company was founded in 1972 as the manager of the
Foreign & Colonial Investment Trustunder the name "F&C Management Limited". [http://www.fandc.com/new/aboutus/Default.aspx?id=81701 F&C History] ]
In 1985 the Company started managing third party funds. In 1989 the Company established a partnership with
Germany’s HypoVereinsbankwho acquired a 50% stake in the business; this stake was increased in 90% in 1998. In 2000 Eurekopurchased HypoVereinsbank’s 90% stake and in 2001 went on to secure 100% control and consolidate their asset management activities with those of the Company under the F&C brand.
In 2008 Friends Provident announced its intention to divest its shareholding in "F&C Asset Management". [ [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/01/cnfriends101.xml Friends Provident to sell Asset Management] ]
The Company's investments include key
asset classessuch as equities, bonds, cashand property– as well as alternative and specialist sectors such as socially responsible investment, hedge funds, funds of hedge funds and private equityfunds.
Although many financial services companies sell insurance or banking products, F&C is dedicated to asset management. The company’s clients include retail investors, financial advisers, and large institutional investors such as public authorities and
charities. The Company has offices throughout the world, and has more than three million private and corporate clients on whose behalf, as at 30 June 2008, it managed over £96.5 billion of assets. [ [http://www.fandc.com/FundNets_FileLibrary/File/FC%20Interim%20Report%202008.pdf F&C Asset Management Interim Report 2008 page 1] ]
Assets are managed from three principal investment centres:
London, Amsterdamand Edinburgh. The Company has an office network spanning ten countries: China( Hong Kong), France( Paris), Germany( Frankfurt), Ireland( Dublin), The Netherlands( Amsterdam), Portugal( Lisbon), Sweden( Stockholm), Switzerland( Geneva), UK ( London, Edinburghand Dorking) and the US ( Boston).
In 2007 the Company was a recipient of the Gold Standard Awards which are designed to help restore consumer confidence in financial services. [ [http://www.goldstandardawards.com/ Gold Standard Awards] ]
The company’s head office is at the heart of the
City of Londonin Exchange House, Primrose Street, London. The building is regarded as one of the finest new buildings in the City and is situated in the Broadgatecomplex near to Liverpool Street station. The company moved here from its office in Laurence Pountney Hill in 1990.
Exchange House itself is a striking building. Conventional foundations were not possible as the design had to accommodate the existing railway lines and
London Undergroundnetwork lying beneath the site. As a result, the building was designed with a metal exoskeletonwhich dominates the exterior and supports the weight of the building through a steel frame resting on bridge-like foundations.
The majority shareholder of the company is
Friends Providentwhich owns approximately 52% of the issued share capital. The other major shareholder is Eureko, which owns approximately 11% of the issued share capital.
* [http://www.fandc.com Official site]
*F&C – A History of Foreign & Colonial Investment Trust by Neil McKendrick and John Newlands, 1999.
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