Boutique London fund manager Liontrust is to acquire Axa’s Architas UK multi-manager and advisory businesses in a deal worth up to £75 million (€82.7 million), it has been announced.
It was a “strategic” purchase according to Liontrust chief executive John Ion, who said the acquisition is a response to rising demand from financial advisors.
The acquisition forms part of a plan to grow Liontrust’s multi-asset manager capabilities over the next few years. It is intended to complement existing multi-asset portfolios as well as sustainability-focuses and quity income strategies.
A multi manager firm with £6.5 billion in assets under management and advice (AuMA) will emerge from the deal, bringing Liontrust’s total AuMA to £25 billion.
Architas head of fund management Sheldon McDonald is to become role of deputy head of the newly-combined team, while Liontrust’s John Husslebee will take the helm. Architas UK distribution team will also move to Liontrust.
Ion said: “Combining the teams led by John Husselbee and Sheldon Macdonald will give us significant capability in multi-asset multi-manager investments.
“A key attraction of the acquisition is the ability to strengthen the digital support we can provide financial advisers and their clients,” he added.
In October last year, Liontrust also bought rival Neptune Investment Management.
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