Liontrust sells Asia income team to Somerset Capital
Liontrust Asset Management
654.00p
16:45 25/04/24
Specialist independent asset manager Liontrust Asset Management announced on Friday that its indirect subsidiaries, Liontrust Investment Partners and Liontrust Fund Partners, have entered into a conditional agreement to sell the Asia Income investment team to Somerset Capital Management.
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16:49 25/04/24
The London-listed firm said Mark Williams, Carolyn Chan and Shashank Savla, the members of the Asia Income Team, would join Somerset.
It said the sale included the right to manage the Liontrust Asia Income Fund.
“The Liontrust GF Asia Income Fund is not part of the sale, and will be closed,” the board said in its statement.
“Liontrust also announces the closure of the European Income and Macro Thematic investment teams.”
At 1249 BST, shares in Liontrust Asset Management were up 1.14% at 1,335p.