View the article online at http://citywire.co.uk/wealth-manager/article/a731821
Schroders lifts Liontrust stake to 23%
by Dylan Lobo on Feb 03, 2014 at 13:55
Schroders has bought another million shares in Liontrust Asset Management.
According to an announcement on the London Stock Exchange, the firm increased its holding in the boutique on 30 January from 8.96 million shares to around 10.1 million shares. The move raises Schroders total holding to just shy of 23% worth around £25 million.
The purchase is likely to have been made by Andy Brough, who is long-term admirer of the firm.
Brough's interest in the firm was as high as 30% at one point after he bought a 14.5% stake in the firm from Fidelity International in June 2009.
The purchase follows a trading update from Liontrust in which it revealed assets under manager had passed the £3.5 billion mark on the back of an inflow of a £200 million in the fourth quarter.
Shortly before midday shares in Liontrust were trading 2p higher at 249p.
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