Liontrust Asset Management To Close Global Equities Team

1st Jul 2010 10:43

Liontrust Asset Management PLC (LIO.LN), an independent fund management group, said Thursday it has decided to close its Global equities team with immediate effect, and said it has also been making changes on the distribution side of the business. MAIN FACTS: -The Global Equities team are on gardening leave -This decision is in line with the company's review into increasing profitability and implementing a more focused strategy across the business. -The three other fund management teams are performing strongly and the company is confident of increasing the assets managed by them over the coming months and years. -The changes on the distribution side of the business includes a rebranding exercise, which is complete and will deliver clearer and more targeted information for clients. -An advertising campaign to further raise awareness of the company's excellent fund performance will begin in August. -The sales focus has been sharpened and new strategies have been put in place. -Shares closed Wednesday at 76.25 pence. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires July 01, 2010 05:43 ET (09:43 GMT)