BlackRock funds up stake in Liontrust

BlackRock funds up stake in Liontrust

Funds managed by BlackRock have increased their investment in Liontrust Asset Management.

The funds run by BlackRock increased their investment to just over 11 per cent of the issued share capital, an increase of half a percent, according to a filing on the London Stock Exchange this morning (4 January.) The company had previously owned 10.5 per cent of the shares in Liontrust. 

Liontrust has a market cap of £492m. In its most recent update to the market, Liontrust said its assets under management had risen above £10bn at the end of November 2017.

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Profits for the six months to the end of September 2017 were £12m, an increase of 76 per cent on the equivalent period in 2016. That was on a turnover of £35m, representing an increase of 57 per cent.

In 2017 Liontrust acquired the asset management business of Alliance Trust Savings.

The company also confirmed the hiring of bond fund managers David Roberts and Phil Milburn from Kames, the duo are scheduled to start at Liontrust in the coming weeks.