Director Moves
Alliance Trust (ATST): Consuelo Brooke has bought her first tranche of shares since joining the company’s board in November.
Artemis VCT (AAM): Having served for over seven years, Robin Field will retire from the board on January 31.
British Empire Securities (BTEM): John May has retired as a non-executive director of the company after eight years’ service, reducing the number of board members to four.
CATCo Reinsurance Opps 'C' (CATC): James Keyes has bought his first tranche of shares since his appointment at the fund’s launch in May 2011.
Cazenove Absolute Equity (CAEL): Richard Jeffrey has been appointed as an alternate director to Andrew Ross. Jeffrey is CIO of Cazenove Capital, as well as a director of Cazenove Capital and its offshore hedge funds.
Dunedin Income Growth (DIG): Elisabeth Scott has been appointed as a non-executive director and will join the board on 24 January 2012. She currently serves as a non-executive director on the boards of two other investment companies.
FRM Credit Alpha GBP (FCAP): Director Damian Johnson is not seeking re-appointment at the AGM held on December 14 as this fund is in the process of being wound up.
Henderson Opportunities (HOT): Peter Jones has been appointed as a non-executive director of the fund, bringing the number of board members to six. He currently serves on a board of another listed company.
Keystone (KIT): David Adams has bought his first tranche of shares since his appointment in 1997. We like to see such action as it aligns directors’ interest with those of the shareholders. We don’t understand why it has taken almost 15 years to happen, though.
JPMorgan Indian (JII): Nimi Patel has joined the board as a non-executive director. This is the first such role for him on the board of a listed company.
JPMorgan Russian Securities (JRS): Alex Easton has bought his first tranche of shares having served as a non-executive director since September 2010.
Marwyn Value Investors (MVI): Michael Prince has resigned as a non-executive director in a move that reduces the board down to three.
Octopus Titan VCT 3 (OTV3): David Bundred has succeeded Chris Hulatt as a non-executive director. Hulatt was one of the three founders of the company's investment manager, Octopus Investments Limited, and remains Chief Financial Officer there. He also stays on the board of Octopus Titan VCT 3 (OTV3), launched in March this year. Bundred brings extensive industry experience to the board. He also currently serves as chairman of another listed company.
Octopus Titan VCT 4 (OTV4): It is a similar story here as to that at Octopus Titan VCT 3. Alex Macpherson has replaced Chris Hulatt. This is the first role for Macpherson on the board of listed company. He currently heads up the Ventures Team at Octopus Investments Limited and thus is not independent.
Director Buying
Alliance Trust - Carol Consuelo Brooke
Amati VCT 2 (AT2) - Julian Avery, Christopher A J Macdonald, Mike Killingley, Christopher Moorsom
British Assets (BSET) - Lynn Ruddick
CATCo Reinsurance Opps 'C' - James Keyes
F&C Investment Trust (FRCL) - Jeffrey Hewitt, Roger Bone, Jeremy John Tigue
Invesco Perp Select Hedge (IVPH) - Patrick Gifford
JPMorgan Russian Securities - Alex Easton
Keystone - David H Adams
Northern Investors (NRI) - Frank Neale, John Barnsley
Picton Property Income (PCTN) - Michael Morris (manager)
RIT Capital Partners (RCP) - Lord Rothschild
Standard Life Euro Private Equity (SEP) - Scott Dobbie
Standard Life Equity Income (SLET) - Charles Wood
Securities Trust of Scotland (STS) - Neil Donaldson
Temple Bar (TMPL) - John Reeve