LONDON (ShareCast) - BlueBay Asset Management’s chief executive and chief investment officer have each raised more than £21m from selling part of their stakes in the manager of fixed income funds.

Co-founder Hugh Willis has always been chief executive of BlueBay since its inception in 2001. He previously worked at JP Morgan and Kleinwort Benson.

Mark Poole is also a co-founder of BlueBay and has been chief investment officer since it started trading. He has previously worked at Credit Suisse First Boston, JP Morgan and Kleinwort Benson.

Willis and Poole each sold 6.5m shares at 325p each. Both men will own 16.88m shares, which equates to 8.66% of the share capital.

London-based BlueBay had assets under management of $34.3bn at the end of 2009. It joined the Main Market on 22 November 2006.

In the six months to September 2009, profit before tax soared 202% to £26m and the dividend increased by 341% to 7.5p a share.

The BlueBay share price has risen by 264% in the past year.

Top Director Buys

BAE Systems (BA.)
Director name: Mr Nicholas Rose
Amount purchased: 25,000 @ 362.80p
Value: £90,700

Golden Prospect Precious Metals Ltd. (GPM)
Director name: Mr Malcolm Burne
Amount purchased: 100,000 @ 54.50p
Value: £54,500

Plant Health Care (PHC)
Director name: Mr Jeremy Scudamore
Amount purchased: 25,000 @ 214.00p
Value: £53,500

Longships (LONG)
Director name: Mr Nathan Anthony Steinberg
Amount purchased: 166,000 @ 15.00p
Value: £24,900

Smiths News (NWS)
Director name: Mr Dennis H Millard
Amount purchased: 10,000 @ 118.20p
Value: £11,820


Top Director Sells

BlueBay Asset Management (BBAY)
Director name: Mr Hugh Willis
Amount sold: 6,500,000 @ 325.00p
Value: £21,125,000

BlueBay Asset Management (BBAY)
Director name: Mr Mark Poole
Amount sold: 6,500,000 @ 325.00p
Value: £21,125,000

Utilico Emerging Markets Ltd. (UEM)
Director name: Mr Charles Jillings
Amount sold: 813,350 @ 125.50p
Value: £1,020,754

General Electric (GEC)
Director name: Mr Jeffrey R Immelt
Amount sold: 55,938 @ € 11.35
Value: € 634,874

Cranswick (CWK)
Director name: Mr Martin T P Davey
Amount sold: 64,961 @ 770.00p
Value: £500,200

Iimia Inv Trust (IIM)
Director name: Mr Michael C Phillips
Amount sold: 342,205 @ 108.25p
Value: £370,437

CSR (CSR)
Director name: Mr Chris Ladas
Amount sold: 48,751 @ 491.05p
Value: £239,392

Rexam (REX)
Director name: Mr Graham Chipchase
Amount sold: 23,736 @ 276.60p
Value: £65,654

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