Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Update on the Acquisition of the Majedie Asset Management Limited
On 7 December 2021, Liontrust Asset Management Plc (“Liontrust“), the specialist independent fund management group, announced that it had entered into a conditional sale and purchase agreement with the founder shareholders to purchase (the “Acquisition“) the entire issued share capital of Majedie Asset Management Limited (“Majedie“).
Liontrust further announces that the Acquisition completed on 1 April 2022, adding £5.2 billion1 to assets under management and advice (“AuMA”) taking pro-forma Liontrust AuMA to £38.6 billion2.
1 Source: Majedie, as at close of business on 25 March 2022 and excludes Institutional AuMA where notice to terminate has been received.
2 Liontrust AuMA of £33.4 billion as at close of business on 25 March 2022.
John Ions, Chief Executive of Liontrust , said: “Majedie is a key acquisition in continuing to broaden Liontrust's investment capability and distribution and enhancing further our client service.
The investment managers, who have been rebranded as the Liontrust Global Fundamental team, are highly regarded with a long pedigree in managing UK and Global Equities for institutional clients. The success of the team, who have all moved to Liontrust, is demonstrated by the quality of their institutional mandates and the management of Edinburgh Investment Trust since March 2020.
The client service offered by Majedie, including their online portal, is reflected in the strength of the relationships they have built up over many years.
Since announcing the acquisition in December 2021, we have ensured there has been a smooth transition for clients. This has been aided by the cultural alignment between the two companies, including a focus on rigorous investment processes, a commitment to being responsible investors and delivering a first-class service.
I have great confidence that bringing together the Global Fundamental team and their long-standing relationships with Liontrust's strong brand, sales and marketing will enable us to expand the distribution of their funds and grow our institutional business.”