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Schroders' Brough doubles Liontrust stake to 30%

Schroders' Brough doubles Liontrust stake to 30%

Schroders fund manager Andy Brough has bought an additional 15% in Liontrust Asset Management, taking his total holding in the group to around 30%  

Brough bought 4,891.085 shares, or 14.52% of Liontrust which was put on the market by Fidelity International last Friday.

Brough, who manages the Schroder UK Smaller Companies and UK Mid 250 funds, has been a long term backer of Liontrust.

The acquisition, which takes his total holding in the firm to a little less than 30%, comes a week after a dire set of full year numbers from Liontrust showing a £2.8 billion fall in assets in the 12 months to the end of March. Pre-tax profit at the group was down 25% to £12.4 million.  

At 9am shares in Liontrust were up 1.75% at 101p.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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