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Sherborne ousts F&C chairman

Edward Bramson’s proposal to replace F&C Asset Management’s chairman was met with success at a general meeting of shareholders today.

Bramson, the founder of investment vehicle Sherborne, is likely to replace Nick MacAndrew having repeatedly called for his dismissal.

The takeover comes after Bramson, led by a 17 per cent holding in F&C through Sherborne, found support from Aviva, which holds a 9 per cent share.

MacAndrew and Brian Larcombe, a non-executive director, were removed today by a 65 per cent and 61 per cent majority vote respectively at a shareholder meeting in Moorgate today.

Edward Bramson, Ian Brindle and Derham O’Neill have been appointed as the new directors of F&C by a 70 per cent, 55 per cent and 71 per cent vote respectively.

Representatives of over 80 per cent of the firm’s total issued shares voted on the resolutions.

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A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery

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