Bramson tightens hold on FCAM

Activist investor Edward Bramson effectively staged a board room coup earlier this year at F&C Asset Management, but having installed himself as chairman, he has continued to build up his interest in the company.On Friday, he acquired a beneficial interest of 200,000 shares in the asset management firm at a cost of 71.84p per share, through SIGA LP, an associate company of his.Bramson recently completed a strategic review and has decided to take the company in a slightly different direction.His plan is for F&C to focus heavily on insurance and defined benefit pension fund clients. These two groups are increasingly looking to expand their fixed income investments (e.g. bonds). F&C is quite good at fixed income, with 78% of its investments outperforming their benchmarks. By selling these products vigorously to institutional clients Bramson believes F&C can extricate itself from its current difficulties, which have seen it lose 66% of its share price in the last five years and a whopping 20% or so in the year to date.Top Director BuysSierra Rutile Ltd (SRX) Director name: Mr François ColetteAmount purchased: 750,000 @ 20.00p Value: £150,000F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 200,000 @ 71.84p Value: £143,680Personal Assets Trust (PNL) Director name: Mr Stuart Paul Amount purchased: 140 @ 33,620.00p Value: £47,068IFG Group (IFP) Director name: Mr John LawrieAmount purchased: 25,000 @ 110.00p Value: £27,500Tristel (TSTL) Director name: Mr Francisco Angel SolerAmount purchased: 50,000 @ 40.00p Value: £20,000Charles Taylor Consulting (CTR) Director name: Mr Rupert RobsonAmount purchased: 14,188 @ 139.90p Value: £19,849Top Director SellsSierra Rutile Ltd (SRX) Director name: Mr Jan Alex CastroAmount sold: 1,125,000 @ 30.00p Value: £337,500Sierra Rutile Ltd (SRX) Director name: Mr Michael BartonAmount sold: 750,000 @ 30.00p Value: £225,000Sierra Rutile Ltd (SRX) Director name: Mr Michael BrownAmount sold: 750,000 @ 30.00p Value: £225,000Sierra Rutile Ltd (SRX) Director name: Mr François ColetteAmount sold: 750,000 @ 30.00p Value: £225,000HGCapital Trust (HGT) Director name: Mr Andrew MurisonAmount sold: 5,000 @ 1,006.86p Value: £50,343