Liontrust has bought Walker Crips Asset Managers for £12.3m to enhance its UK equity presence.
The acquisition, due to complete in April, will increase Liontrust’s assets under management from £1.5bn to more than £2bn.
Fund managers Stephen Bailey and Jan Luthman will join Liontrust and will continue to manage the CF Walker Crips UK growth fund, CF Walker Crips equity income Fund, CF Walker Crips UK high alpha Fund, CF UK fund and two institutional segregated accounts. The four funds will take on the Liontrust branding.
Walker Crips Asset Managers will delegate its investment management responsibilities for the CF Walker Crips corporate bond, CF Walker Crips select income and CF Walker Crips global growth funds to a company within the Walker Crips group. Liontrust says the principal reason for this is the high number of Walker Crips group clients that are invested in these funds.
Liontrust chief executive John Ions says: “The macro investment process and style of Stephen Bailey and Jan Luthman is complementary to our teams. We are confident, therefore, that we will be able to use our sales and marketing capability and rising profile to capitalise on the performance to grow assets under management in the funds managed by Stephen Bailey and Jan Luthman.”
In October, Liontrust Asset Management completed the takeover of emerging markets fund manager Occam in a deal worth around £2.7m.