UPDATE: Liontrust buys Walker Crips AM for £12m

Liontrust Asset Management is to acquire Walker Crips Asset Managers (WCAM) in a £12m deal.

The deal will include top performing managers Stephen Bailey and Jan Luthman, who will move across to Liontrust. Bailey and Luthman, both company directors, are entitled to 20% of the value of the deal between them, a payout worth £2.4m, but have opted to waive this in favour of a separate remuneration agreement with Liontrust. They will continue to manage the CF Walker Crips UK Growth fund, Equity Income fund, UK High Alpha fund, CF UK fund, and two Institutional segregated accounts. Liontrust said it will drop the WCAM name from the funds and rebrand them Liontrust. There will be...