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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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