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Hedge fund ups AAM stake
TOSCAFUND, the London-based hedge fund which has been building a major stake in Aberdeen Asset Management, yesterday revealed it had upped its stake in AAM to 18.2 per cent.
Toscafund has been increasing its stake in AAM since it acquired a 9.8 per cent holding on 17 March, taking advantage of what it termed "indiscriminate" selling in the stock market. The fund said the stake is strategic and Aberdeen has welcomed it as an investor. Shares in AAM rose 3.75p to 136p on the news.
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Weather for Edinburgh
Thursday 24 May 2012
Today
Sunny spells
Temperature: 12 C to 21 C
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