Reuters: Deals: Liontrust Asset buys Walker Crips Asset Managers

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Liontrust Asset buys Walker Crips Asset Managers Mar 13th 2012, 08:22 Tue Mar 13, 2012 4:22am EDT (Reuters) - Liontrust Asset Management (LIO.L) said it would buy the fund management unit of Walker Crips Group Plc (WCW.L) for 12.3 million pounds, as it looked to boost its asset management business in the UK. The acquisition would bring the Walker Crips Asset Managers fund management team to Liontrust and increase its assets under management (AUM) by 604 million pounds ($943.12 million), the UK fund manager said in a statement. London-based Liontrust -- one of the few to report inflows in its funds recently -- is trying to rebuild its business after losing two key managers and the bulk of its assets in 2009. As at February 29, total AUM stood at 1.49 billion pounds. Last year, Liontrust expanded its asset classes into the Asian and global emerging markets through its purchase of the fund management business of Occam Asset Management.

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