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Brough doubles stake in Liontrust, say reports

Schroders fund manager Andy Brough has doubled his stake in Liontrust to almost 30 per cent, according to The Independent.

Brough, who runs the Schroders UK mid 250 and UK smaller companies funds, is understood to have bought the stake from Fidelity International last week.

The move comes after Liontrust announced a 60 per cent fall in funds under management to £1.9bn last week. As of June 9, 2009 its assets had fallen to £1.2bn while the firm’s share price currently stands at 99.5 pence per share, down 61.7 per cent from 12 months ago.

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