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Dodd and Littlewood lift Liontrust stake above 6%
by Dylan Lobo on Mar 20, 2012 at 12:20
Between them the pair has bought another 550,000 shares in Liontrust to increase their combined holding to 2,310,000 shares, representing a 6.22% stake in the firm.
After a tricky spell triggered by the departure of its star UK Income team of Jeremy Lang and William Pattison at the start of 2009, Liontrust has found its feet again thanks to strong performance from the likes of James Inglis-Jones and Gary West and Selection duo Anthony Cross and Julian Fosh.
Adrian Paterson, who co-manages Artemis Alpha Trust alongside Dodd, said that Liontrust looked like a buy for a string of compelling reasons.
He told Wealth Manager: 'We’ve upped our stake in Liontrust for three main reasons: their investment performance has improved markedly and could prove a "tipping point" in the firm’s growth; they have a strong balance sheet; and their latest deal will, we believe, enhance their earnings.'
At 11.40am shares in Liontrust traded 0.24p higher at 107.24p, leaving them within touching distance of their 52-week high of 111p.
According to documents seen by Wealth Manager, Martin Gray and James Sullivan owned 4.58% of the stock through their CF Strategic Portfolio at the end of December. Alan Borrows and Richard Parfect owned 4.04% withim their CF Midas Balanced Income fund.
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