Liontrust Asset Management has announced the creation of its eighth investment team and overhauled management of €732 million of its funds.
The news comes as Liontrust saw €586 million in net outflows in the three months ending 30 June 2022.
In explaining the outflows, John Ions, chief executive of Liontrust, said Liontrust had not been “immune” to inflationary pressures, supply chain issues and strains on economic growth but they remained confident about their long-term prospects.
Liontrust’s new team, called the Global Innovation team, has been created for former Neptune Investment Management fund managers – which Liontrust acquired in 2019.
This will be co-headed by fund managers James Dowey and Storm Uru, who together developed the Global Innovation process. They in turn will be supported by fund manager Clare Pleydell-Bouverie.
The team will manage Liontrust’s €247 million Global Innovation and €401 million Global Dividend funds.
Dowey, Uru and Pleydell-Bouverie joined Liontrust in October 2019 as part of the acquisition of Neptune Investment Management for €47 million.
Liontrust has also decided to move its €412 million Income and €320 million US Opportunities funds from the Global Equity team to the Global Fundamental team with effect today (19 July).
Following the move, Chris Field has become lead manager of the Income fund. Field joined Liontrust in April this year as part of Liontrust’s acquisition of Majedie Asset Management, which he co-founded.
He will be supported by deputy fund manager James O’Connor and equity analyst Dan Ekstein.
Meanwhile, the US Opportunities fund will continue to be managed by George Boyd-Bowman, who also joined as part of the Neptune acquisition.
As a result of the fund’s move to the Global Fundamental team, Boyd-Bowman will work alongside Hong Yi Chen, who manages the Liontrust GF US Equity Fund.
Ions commented: “Bringing together the two UK equity income and the two US funds into one team adds value to investors by strengthening the resources devoted to these asset classes.
“Each of the funds will benefit from larger teams providing portfolio management along with stock analysis and selection.”
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