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F&C Asset Management

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F&C Asset Management Plc
BMO Asset Management (Holdings) Plc
Columbia Threadneedle AM (Holdings) Plc
Company typeA wholly owned subsidiary of Columbia Threadneedle Investments
IndustryInvestment management
Founded1972; 52 years ago (1972)
HeadquartersLondon, England, UK

F&C Asset Management Plc was an international asset management company. It was acquired by Bank of Montreal in 2014, and renamed as BMO Asset Management (Holdings) Plc in 2018. Its head office was in the City of London in Exchange House, Primrose Street, London. The company was then acquired by Columbia Threadneedle Investments in 2021 and renamed to Columbia Threadneedle AM (Holdings) Plc in 2022.[1]

History

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F&C Asset Management was established in 1972, to take over the management of the Foreign & Colonial Investment Trust.[2] HypoVereinsbank took a 50% stake in the company in 1989, increasing it to 90% in 1998. Eureko acquired HypoVereinsbank's stake in 2000[3] and acquired the remaining 10% (which had been held by Foreign & Colonial Investment Trust) in 2001.[4]

F&C Asset Management retained the F&C brand for the enlarged business when it merged with Isis Asset Management in 2004.[5] The enlarged business was then owned jointly by Eureko and Friends Provident (which had been the majority shareholder in Isis) although, after F&C Asset Management listed on the London Stock Exchange, Eureko divested much of its holding in 2007,[6] and Friends Provident divested its holding in 2009.[7]

F&C Asset Management was the official sponsor of Birmingham City F.C. between 2007 and 2011.[8]

In 2014, F&C Asset Management was acquired by Bank of Montreal in deal worth £697 million,[9][10] and then rebranded as BMO Global Asset Management.[11] In 2021, BMO GAM (EMEA) became part of Columbia Threadneedle Investments, including the management of the F&C Investment Trust, and re-rebranded as Columbia Threadneedle AM (Holdings) Plc.[12]

References

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  1. ^ Filing History, Companies House
  2. ^ Human, Tim (January 25, 2011). "F&C Asset Management Renews Attack On Activist". Business Insider. Retrieved 18 February 2023.
  3. ^ "Foreign & Colonial bought by Eureko for £417m". The Telegraph. 23 December 2000. Retrieved 18 February 2023.
  4. ^ "Eureko to Float Fund Manager, Plans IPO of Its Own Shares". Wall Street Journal. 30 January 2004. Retrieved 18 February 2023.
  5. ^ "Isis and F&C join forces in £378 million deal". City Wire. 2 July 2004. Retrieved 18 February 2023.
  6. ^ "F&C shares dive as investor bales out". The Times. 17 May 2007. Retrieved 18 February 2023.
  7. ^ "Friends offers investors one for 10 deal on F&C demerger". The Guardian. 31 May 2009. Retrieved 18 February 2023.
  8. ^ "F&C in sponsorship deal with Birmingham FC". Money Marketing. 31 May 2007. Retrieved 18 February 2023.
  9. ^ Wilkes, Tommy (27 January 2014). "Canada's BMO offers $1.2 billion for F&C Asset Management". Reuters. Retrieved 18 February 2023.
  10. ^ Ben Dummett (28 January 2014). "Bank of Montreal to Buy F&C Asset Management". The Wall Street Journal. Retrieved 18 February 2023.
  11. ^ Beth Brearley (11 June 2015). "F&C to rebrand as BMO Global Asset Management". Money Marketing. Retrieved 18 February 2023.
  12. ^ Columbia Threadneedle completes rebrand of BMO Gam investment trusts, Portfolio Adviser, July 2022.

Further reading

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  • F&C – A History of Foreign & Colonial Investment Trust by Neil McKendrick and John Newlands, 1999.
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