Industry commentators have expressed their surprise following the announcement that Majedie Asset Management is to be acquired by Liontrust for a total consideration of $120m, though many point out the potential boost to the manager’s institutional business was the likely driver.
Over the last couple of years, Liontrust has been successful at amalgamating purchases into its fabric, with Neptune and Architas being examples of particular note. The Majedie deal is set to add a further £5.8bn to its collection of assets and allow for greater access to institutional markets, according to analysts at Peel Hunt. "Majedie Asset Management is not transformational on a group basis, but it would enable Liontrust Asset Management to bulk up in institutional asset management," said Peel Hunt's Robert Sage and Stuart Duncan in a recent report. "As a result, it would ac...
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