Liontrust to buy Majedie Asset Management for up to £120m

The acquisition - which will be for an initial consideration of £80m including regulatory capital, plus up to £40m for excess NAV - will boost Liontrust's assets under management by £5.8bn to more than £42.3bn and significantly increase its institutional capabilities, according to the firm. Majedie Fund Management will remain unchanged under CIO and chair James de Uphaugh, though it will be renamed the Liontrust Global Fundamental team. John Ions, CEO of Liontrust, said: "Liontrust has been increasing its number of institutional clients and the purchase of Majedie will hasten this exp...