F&C Asset Management, whose boardroom battle with activist Sherborne Investors comes to a head next week, this morning brushed aside a report from US voting advisers ISS that favoured its opponent - suggesting not many of its shareholders' votes would be swung by it.

F&C is fending off an effort by Sherborne - a Guernsey-based fund that owns 17% of its shares - to elect three new directors to the company's board in an extraordinary general meeting on February 3. Edward Bramson, Sherborne's chief executive, wants to become chairman of F&C, replacing incumbent Nick MacAndrew.