Reuters) – Activist hedge fund Toscafund has raised its stake in Aberdeen Asset Management by around another 50 million pounds to more than 25 percent, continuing its rapid stake-building of recent months.

Toscafund, which is run by Martin Hughes, increased its holding to 25.49 percent on Wednesday from 20.02 percent, according to a statement to the Stock Exchange on Friday, having increased its stake marginally on Monday.

"Aberdeen is an excellent global asset manager covering nearly all product areas. We’re supportive of management and believe their prospects are very good," a Toscafund spokesperson said.

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Reuters- Activist hedge funds have struck their first victory in France, building on successes in Britain and the Netherlands, where their aggressive tactics have forced several companies to bend to their will.

Centaurus Capital and Pardus Capital Management got their way at French IT services company Atos Origin on Wednesday, with the ouster of chairman Didier Cherpitel and appointment of Jean-Philippe Thierry as chief executive and the creation of a strategy committee.

The hedge funds had been at odds with Atos management for months, culminating in the company adjourning its annual shareholders’ meeting last week to prevent a vote on the funds’ proposals.

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