Schroders hikes Liontrust stake to 23%

Schroders has increased its stake in Liontrust Asset Management to 23% following the boutique's latest results.

The FTSE 100-listed asset manager has taken its stake in Liontrust from 19.6% to 23%, according to a stock exchange announcement released today. Schroders increased its overall stake after Liontrust's latest update to the market last week, in which it said its AUM had risen to a record £3.6bn. That was in part due to Liontrust's acquisition of John Husselbee's North Investment Partners in the final quarter of 2013. Most of Schroders' stake in the business is held within Andy Brough's £1.6bn Schroder UK Mid 250 fund. Liontrust's share price has rocketed in the past year following...