Liontrust Asset Management has closed its Dublin-domiciled Emerging Markets Opportunities fund and fund managers Eoghan Flanagan and James Mellersh are set to leave the firm.
The fund and its managers were acquired through the Occam acquisition made by Liontrust less than a year ago in a £1.17m deal.
Liontrust confirmed Flanagan (pictured) and Mellersh are on gardening leave after the fund was shut on 4 September due its small size. At $12.9m (£8m) on the 16 August, it was considered "not economically viable" to continue running the product.
Mark Williams and Carolyn Chan, who also joined via Occam and run the Asian Income fund, are unaffected and are remaining with the firm.
Liontrust first announced in August it had entered into a conditional agreement to buy emerging markets specialist Occam for £3.9m but at the time of the acquisition in October, AUM had fallen to $139m opening up a clause in the agreement which allowed it to scrap the bid if assets fell below $150m.
Liontrust agreed to see the deal through regardless of the falls, for a price 30% lower than initially bid.
The deal saw the group's co-founders, Jonathan Hughes-Morgan and David Sheppard, move across to Occam with the fund managers and sales team.
The Emerging Markets Opportunities fund has shrunk in size considerably since the acquisition, when assets stood at around £60m.
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