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Mills swoops as Liontrust equity stars sell down Walker Crips
by Sarah Miloudi on Aug 29, 2013 at 14:00
Across a spread of funds, the managers reduced their holding of Walker Crips from 2,737,221 ordinary shares to 1,387,221 shares.
According to a stock market announcement, the transaction took place on 22 August and took their holding down from around the 5% reporting threshold to 3.7%.
Christopher Mills, who runs the Oryx International Growth fund, scooped up the bulk of the shares let go of by the Liontrust managers, and bought 1,250,000 Walker Crips shares according to a separate announcement.
Shares in Walker Crips are currently trading at 33.10p, down 2.6%, but year to date they have gained 7.8%.
The investment manager has undergone a transformational 12 months, which has seen it return its focus back to its core private client arm after selling its asset management business to Liontrust last March.
At its interim management statement, Walker Crips reported a 36% rise in ongoing group revenue over the quarter ended 30 June, and a slight increase in its discretionary and advised assets, which were up from £1.03 billion to £1.06 billion.
Liontrust's UK equity team has also enjoyed a solid year.
According to Citywire data the duo have returned 69.6% in the UK All Companies sector over three years, versus the average manager's 45%. In the UK Smaller Companies sector they have delivered 81.8%, compared to 65% by their typical peer.
Meanwhile, Citywire Selection's Luthman and Bailey (pictured), who run the Liontrust Macro UK Growth and Macro UK Equity Income funds, have returned 29.7% in the Citywire UK All Companies Sector and 43.7 % in the UK Equity Income sector.
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