Liontrust terminates takeover discussions
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As part of its interim management statement the group says it has been in discussions with a number of parties since a first approach was made on May 20, 2008.
The final quarter of 2008 saw Liontrust's assets under management fall 13.6 per cent to £3.38bn. Assets now stand at £3.46bn. Meanwhile, net redemptions in unit trusts and offshore funds were £75m with £59m withdrawn from net institutional assets.
Liontrust confirmed the departures of key fund managers Jeremy Lang and William Pattisson in a statement to the market this morning and says it remains in active communications with its clients. The pair managed over £3bn in assets as of 31 December, 2008.
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