Liontrust takes another bite of Brooks Macdonald

Liontrust's Anthony Cross and Julian Fosh up their stake in fund management group Brooks Macdonald (BRK.L).

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by David Campbell on Feb 08, 2012 at 17:23

Liontrust takes another bite of Brooks Macdonald

The managers of the UK's top fund in 2011, Liontrust's Anthony Cross (pictured) and Julian Fosh, have increased their stake in fund management group Brooks Macdonald (BRK.L).

The Citywire A-rated duo increased their stake from 852,545 shares to 877,945, or 8.1%, worth £9.78 million at a share price of £11.15. The managers have been gradually increasing their position in the stock over the past two months.

The interest is held in the Liontrust Special Situations fund, which was the top-performing UK All Companies fund in 2011, and across the company’s UK equity range.

Cross has been a long-term backer of Brooks Macdonald, buying into its float in 2006 at a price of £1.50.

‘[Brooks] has a very good track record of organising growth and everything I hear about the way the run their offices is very strong,’ he told Citywire.

‘It deals with customer relationships in a very good way, a strong brand and is rolling out its network. It has been a very profitable investment for us.'

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1 comment so far. Why not have your say?

sgjhaghsdg

Feb 08, 2012 at 17:54

Funds buying shares in other fund managers, until we have a huge web of complex cross-holdings that inflate both prices/egos, doesn't sound very wise to me. I hold Liontrust Special Situations but will give serious consideration to reducing or selling entirely.

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