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Dodd and Littlewood lift Liontrust stake above 6%
Markets
by Dylan Lobo on Mar 20, 2012 at 12:20
Artemis duo John Dodd and William Littlewood have given Liontrust’s acquisition of Walker Crips Asset Managers the thumbs up.
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.
The purchases were made through the Citywire Selection Artemis Alpha Trust , managed by Dodd (pictured) and Littlewood’s Strategic Assets fund on the 15 March.
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.
Last week the firm struck a £12 million deal to buy Walker Crips AM, which saw them add another two star Selection managers to their ranks in the form of Stephen Bailey and Jan Luthman.
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.
Other high profile shareholders in Liontrust include Schroders’ Andrew Brough, who owns 21.45% through his Schroder UK Smaller Companies and UK Mid 250 funds.
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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- Artemis Strategic Assets R Acc
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- John Dodd
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- Alan Borrows
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