Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

AA-rated Cross & Fosh up Brooks Macdonald stake above 16%

AA-rated Cross & Fosh up Brooks Macdonald stake above 16%

Citywire AA-rated Anthony Cross (pictured) and Julian Fosh have extended their margin as the largest shareholders in Brooks Macdonald as their stake in the business rose above 16% for the first time.

The two managers increased their holding in the company from 2.12 million shares to 2.15 million or 16.17% worth £36.72 million at a share price of £17.01.

The shares are held in both their £1.23 billion Liontrust Special Situations fund and their £243 million Liontrust UK Growth fund.

Brooks Macdonald has largely traded sideways since topping out at a record high of £18.09 in early March.

On a trailing price-to-earnings basis the company trades at a 6.6% premium to its peer group on a multiple of 21 times versus 19.7 times. On a price-to-book basis it sits at a 47.7% discount however, at four times versus 7.6 times.

Liontrust is a long-term shareholder in the business having bought into its initial float in 2006 at a price of £1.50. The company only really began ratcheting up their exposure in 2012, however.

Speaking to Wealth Manager at the time, Cross said: ‘[Brooks] has a very good track record of organising growth and everything I hear about the way the run their offices is very strong.’

‘It deals with customer relationships in a very good way, a strong brand and is rolling out its network. It has been a very profitable investment for us.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Anthony Cross
Anthony Cross
93/152 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 43.61%
Julian Fosh
Julian Fosh
92/152 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 43.61%
Citywire TV
Citywire TV
Citywire TV
Play Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the man building Towry into an £11bn giant

Profile: meet the man building Towry into an £11bn giant

As a former engineer who worked on Hong Kong International Airport, Rob Devey is not afraid of taking on major projects

Wealth Manager on Twitter