3i Group Plc, Britain’s largest publicly traded private-equity firm, increased its target for cost savings in 2014 to 60 million pounds ($91.3 million) after investments returned to profit.
F&C Asset Management Plc, the investment firm controlled by hedge-fund manager Edward Bramson, dropped in London trading after Achmea BV decided to withdraw 10.3 billion pounds ($16 billion) of assets.
U.K. stocks climbed for a seventh day, the longest winning streak since July 2011, led by a rally in BT Group Plc after the telecommunications operator reported earnings that beat analyst estimates.
3i Group Plc defended its strategy for turning around the company after activist investor Edward Bramson announced he boosted his stake in Britain’s oldest private-equity firm.
3i Group Plc, Britain’s oldest private-equity firm, posted a decline in the pace of asset sales and investments as activist investor Edward Bramson starts buying the stock.
F&C Asset Management Plc, which runs the U.K.’s oldest investment trust, will almost triple cost reduction plans and cut jobs as part of a strategic review under Executive Chairman Edward Bramson.
F&C Asset Management Plc Chairman Nick MacAndrew was ousted after losing an eight-week battle against activist shareholder Sherborne Investors LLC.
F&C Asset Management Plc, which oversees the U.K.’s oldest investment fund, said Chief Executive Officer Alain Grisay will step down in May.
F&C Asset Management Plc, which runs the U.K.’s oldest investment trust, said assets under management declined 4.9 percent last year as clients including Friends Life pulled money from its funds.
3i Group Plc, Britain’s oldest private-equity firm, rose to the highest in almost 18 months in London trading after saying that activist investor Edward Bramson has been buying its shares.