Liontrust completes £120mn Majedie takeover

Liontrust completes £120mn Majedie takeover

Liontrust Asset Mangement has completed the acquisition of Majedie Asset Management, adding £5.2bn to its assets under management and advice.

The deal, which was announced in December, is a “key acquisition” for Liontrust, its chief executive John Ions said this morning.

He added Majedie’s investment managers are highly regarded with a long pedigree in managing UK and Global Equities for institutional clients. 

Ions said: “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, he said, the group has ensured there has been a smooth transition for clients and that the two firms work on their “cultural alignment”.

"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," he added.

In the announcement last year, Liontrust said Majedie’s chief executive, Rob Harris, would become Liontrust’s head of global international business. 

All of Majedie’s investment team would join Liontrust, becoming part of a Global Fundamental Team division, headed up by Majedie’s chief investment officer and co-founder James de Uphaugh.

Majedie's team will continue to manage their current funds and portfolios consistent with their existing investment process, just under the Liontrust rather than the Majedie brand.

These include global equity, global focus and international equity funds (£332m), UK equity, UK focus and income funds (£1.6bn), the US equity fund (£272m), global long and short funds (£379m), and the £1bn Edinburgh Investment Trust.

The transaction will also include the transfer of 15 additional funds and portfolios, split into segregated accounts with assets totalling just under £2bn.