News

Liontrust sells Asia income fund to Somerset Capital

Asian currenciesUK-based Liontrust Asset Management has offloaded its Asia income strategy fund to fellow UK-based investment firm, Somerset capital. The announcement came via a regulatory filing which disclosed that it is selling the rights of its subsidiaries Liontrust Fund Partners and Liontrust Investment Partners top manage the US$106 million fund. Somerset will pay £2 million over five years for the fund and its management team. The current co-managers of the fund, Carolyn Chan and Mark Williams will join Somerset Capital at the end of October. The sale is expected to be completed by the end of the first quarter of 2021 at which point the fund will be renamed Somerset Asia Income Fund. Separately, Liontrust said it is closing another Asia strategy– the Liontrust GF Asia Income Fund with £14.7 million in assets under management and advisory– at the end of October. © 2020 funds global Asia

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