Liontrust Asset Management is to acquire the fund management business of Occam Asset Management. The acquisition is in line with the firm’s publicly stated objective of expanding into the fast growing Asia and emerging markets asset classes to complement its existing UK and Europe fund management capability.
Occam brings the management of four Dublin-based funds – Occam Emerging Markets Opportunities, Occam Asia Focus, Occam Asia Absolute Return and Occam Europe Focus funds – and two Cayman Islands-domiciled hedge funds – Occam Sorbus and Occam Diversity funds – to Liontrust.
The Occam Asia Focus and Occam Asia Absolute Return funds are managed by Mark Williams while Eoghan Flanagan and James Mellersh manage the Occam Emerging Markets Opportunities fund. Liontrust’s James Inglis-Jones and Gary West take over as fund managers of the Occam Sorbus and Occam Europe Focus funds.
The Emerging Markets and Asia Pacific fund management teams at Occam have excellent pedigrees and strong long-term track records. Before joining Occam, Eoghan Flanagan was co-founder of the highly successful Thames River Nevsky team and James Mellersh was a senior member of the team. Mark Williams managed the Friends Provident International GIP Far East Sicav and F&C Pacific Growth funds.
The fund management teams at Occam, which was founded at the end of 2007 and has GBP124 million in assets under management, enhance a company that already has two very strong teams in Anthony Cross/Julian Fosh and James Inglis-Jones/Gary West. This strength was recently evidenced when the Liontrust Special Situations Fund was named the Best UK Growth Fund in the Investment Week Fund Manager of the Year Awards 2011.
Acquiring Occam’s fund management business increases Liontrust’s assets under management and enhances other areas of Liontrust’s business. Jonathan Hughes-Morgan and David Sheppard, co-founders of Occam, have many years of experience of running businesses and identifying and recruiting fund managers. Jonathan, David and their sales team strengthen the distribution capability at Liontrust, notably in continental Europe, the Middle East and other international markets.
“This is the next step in the development of Liontrust,” says John Ions, Chief Executive of Liontrust. “The business now has the foundations from which to grow following the restructuring of the business, developing the brand, raising awareness and returning to net inflows.
“Having re-established these fundamentals, now is the right moment at which to make this acquisition, expanding our fund management capability and diversifying into new asset classes which are experiencing increasing investor interest.
“This acquisition greatly enhances Liontrust and provides a stronger foundation from which to grow, benefiting clients and shareholders alike.”
Jonathan Hughes-Morgan, Chief Executive of Occam, adds: “There is a good fit between Occam and Liontrust. John and I have known each other for many years and have like-minded views on the investment management industry. There is a can-do attitude at both companies and bureaucracy is minimised so decisions can be made quickly and be rapidly implemented.
“Liontrust is attractive because it is a business with positive momentum, has an increasingly strong brand and has excellent fund management teams. Liontrust provides greater resources and infrastructure for us, giving us a broader base from which to move forward.”
