F&C Asset Management
F&C Asset Management was a London-based international asset manager that developed from the management of the Foreign & Colonial Investment Trust and was subsequently absorbed into BMO Global Asset Management and Columbia Threadneedle Investments.
Last updated August 31, 2026
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Overview
F&C Asset Management was a United Kingdom-based international asset management company whose corporate history grew out of the Foreign & Colonial Investment Trust. It was established in 1972 to take over management of that investment trust, linking the business to one of the best-known early investment vehicles in the British market. Over time, F&C developed from a focused investment-trust manager into a broader asset-management operation serving institutional and other investment clients. The company went through several changes of ownership before adopting its final independent corporate identity. HypoVereinsbank acquired a 50% interest in 1989 and increased its holding to 90% in 1998. Eureko subsequently acquired HypoVereinsbank's stake in 2000 and bought the remaining 10% from Foreign & Colonial Investment Trust in 2001. These transactions placed the business within a wider European financial-services ownership structure while preserving its established F&C identity. A major expansion occurred in 2004, when F&C merged with Isis Asset Management. The enlarged company retained the F&C brand. Ownership after the merger was shared by Eureko and Friends Provident, the latter having been the majority shareholder in Isis. F&C Asset Management later became a publicly listed company on the London Stock Exchange. Eureko reduced much of its holding in 2007, followed by Friends Provident in 2009, leaving the listed asset manager with a more dispersed ownership profile. The F&C name also had a public-facing association with English football. The company sponsored Birmingham City Football Club from 2007 to 2011, providing a period of sports visibility for a financial brand while it was operating as an independent listed asset manager. F&C's independent corporate phase ended in 2014, when Bank of Montreal acquired the company in a transaction valued at £697 million. The business was subsequently rebranded as BMO Global Asset Management. In 2018, the legal entity F&C Asset Management Plc was renamed BMO Asset Management (Holdings) Plc. The F&C investment heritage continued through the management of the F&C Investment Trust and related activities, even as the corporate brand moved into the BMO structure. In 2021, BMO Global Asset Management's EMEA business, including management of the F&C Investment Trust, became part of Columbia Threadneedle Investments. The relevant holding company was renamed Columbia Threadneedle AM (Holdings) Plc in 2022. Accordingly, F&C Asset Management is best understood today as a historical corporate brand and predecessor business rather than an independently operating asset manager. Its legacy remains relevant through the investment businesses, products, and legal entities that succeeded it.
History
F&C Asset Management was established in 1972 to assume responsibility for managing the Foreign & Colonial Investment Trust. This origin gave the company a distinctive investment-trust heritage and connected its later asset-management activities with a long-established British investment institution. The business subsequently expanded beyond that initial mandate and became an international asset manager. Ownership changed substantially during the late twentieth and early twenty-first centuries. HypoVereinsbank acquired half of the company in 1989 and raised its stake to 90% in 1998. Eureko bought HypoVereinsbank's interest in 2000 and acquired the remaining shares held by Foreign & Colonial Investment Trust in 2001. The transactions placed F&C within a changing European financial-services ownership landscape while allowing the F&C name to continue as the principal commercial identity. In 2004, F&C merged with Isis Asset Management. The enlarged organization retained the F&C brand, and ownership was shared by Eureko and Friends Provident, which had been Isis's majority shareholder. F&C later listed on the London Stock Exchange. Eureko sold down much of its position in 2007, and Friends Provident disposed of its holding in 2009. This marked the transition from ownership by a small group of strategic shareholders toward a publicly traded asset-management company. The company also pursued corporate visibility outside the investment industry. From 2007 through 2011, F&C Asset Management was the official sponsor of Birmingham City Football Club. The sponsorship associated the brand with a prominent English football club during the company's independent listed period. In 2014, Bank of Montreal agreed to acquire F&C Asset Management for a reported £697 million. Following completion, the business was rebranded as BMO Global Asset Management. The former F&C corporate entity was renamed BMO Asset Management (Holdings) Plc in 2018. Although the standalone F&C corporate identity was discontinued, the F&C name continued to be associated with investment products and mandates, including the F&C Investment Trust. A further ownership transition took place in 2021, when BMO Global Asset Management's EMEA business joined Columbia Threadneedle Investments. The transaction included responsibility for managing the F&C Investment Trust. In 2022, the relevant holding company was renamed Columbia Threadneedle AM (Holdings) Plc. The sequence of ownership changes means that F&C Asset Management is now a predecessor brand and corporate lineage within larger asset-management organizations, rather than a separately active company.
- 2022
Successor entity renamed
[1]The holding company was renamed Columbia Threadneedle AM (Holdings) Plc.
- 2021
Business joins Columbia Threadneedle Investments
[1]BMO Global Asset Management's EMEA business became part of Columbia Threadneedle Investments.
- 2018
Legal entity renamed
[1]F&C Asset Management Plc was renamed BMO Asset Management (Holdings) Plc.
- 2014
Acquisition by Bank of Montreal
[1]Bank of Montreal acquired the company in a transaction valued at £697 million, after which it became part of BMO Global Asset Management.
- 2011
Birmingham City sponsorship ends
[1]F&C's official sponsorship of Birmingham City Football Club concluded.
- 2009
Friends Provident divests its holding
[1]Friends Provident sold its interest in F&C Asset Management.
- 2007
Eureko reduces its holding
[1]After the London Stock Exchange listing, Eureko divested much of its stake.
- 2007
Birmingham City sponsorship begins
[1]F&C became official sponsor of Birmingham City Football Club.
- 2004
Merger with Isis Asset Management
[1]F&C merged with Isis Asset Management and retained the F&C brand for the combined business.
- 2001
Eureko acquires the remaining interest
[1]Eureko acquired the remaining 10% held by Foreign & Colonial Investment Trust.
Products and positioning
A London-based international investment manager with roots in investment-trust management and a long-established F&C heritage. During its independent phase, the business combined public-market asset management with institutional and broader investment capabilities, before being integrated into larger global asset-management groups.
Investment trust
Foreign & Colonial Investment Trust
The Foreign & Colonial Investment Trust was the foundational mandate around which F&C Asset Management was established in 1972. Management of the trust remained an important part of the business's historical identity and connected the F&C name with investment-trust expertise.
Investment trust
F&C Investment Trust
The F&C Investment Trust represented the continuation of the company's investment-trust heritage. Responsibility for its management transferred through the BMO Global Asset Management EMEA business to Columbia Threadneedle Investments in the 2021 ownership transition.
Institutional investment management
Institutional asset-management mandates
F&C operated as an international asset manager with capabilities serving institutional investment needs. The available reference material does not provide a complete product catalogue or detailed strategy-level breakdown, but the business expanded materially beyond its original investment-trust mandate.
Marketing campaigns
- 2007Birmingham City Football Club sponsorship
United Kingdom
F&C Asset Management became the official sponsor of Birmingham City Football Club, using a high-profile English football partnership to increase public visibility for the financial-services brand.
Outcome. The sponsorship continued through 2011.
Brand decisions
2021
Transfer of BMO Global Asset Management EMEA businessM&ABackground
BMO Global Asset Management's EMEA operations, including the business associated with the F&C Investment Trust, were transferred in a broader ownership change.
Action taken
The EMEA business became part of Columbia Threadneedle Investments.
Aftermath
The successor holding company adopted the Columbia Threadneedle name in 2022, completing the corporate transition away from the F&C identity.
2014
Accept acquisition by Bank of MontrealM&ABackground
F&C operated as an international listed asset manager before entering an agreement to join Bank of Montreal's asset-management operations.
Action taken
Bank of Montreal acquired F&C Asset Management for a reported £697 million.
Aftermath
The business was rebranded as BMO Global Asset Management and the independent F&C corporate identity was discontinued.
Reported transaction value. £697 million (2014 acquisition)
2004
Merge with Isis Asset ManagementM&ABackground
F&C sought to combine with Isis Asset Management and expand the scale and capabilities of the asset-management business.
Action taken
The companies merged, and the combined organization continued to use the F&C brand.
Aftermath
The enlarged business was jointly owned by Eureko and Friends Provident before later becoming a listed company.
Recent events
- Unconfirmed
BMO GAM launches three sustainable multi-asset funds[2]
Reported:
BMO Global Asset Management launched three sustainable multi-asset funds with varying risk profiles as part of its Universal Multi-Asset Portfolios range.
Sources2 sources
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