Schroders' Andy Brough has doubled his stake in Liontrust to 30%, The Independent reports.
Brough, who runs the Schroder UK Mid 250 and Smaller Companies retail funds, increased his stake in the asset manager after Fidelity reportedly sold-off its 15% stake.
The Independent cited a source close to Schroders, who said Brough believes fund managers such as Liontrust are set to prosper in the coming months as retail investors come back to the market.
Liontrust share price and asset under management have dived in recent months, following the recent departure of star managers Jeremy Lang and William Pattison. Its AUM has fallen to just £1.9bn, down from £4.7bn a year ago.IFAonline
From June 2019
11 years since launch of three Chartered titles
Hired 200 extra operational staff
Slow progress in improving diversity
Share purchase deal with assets of £28m