GAM Managers Urge Strategic Review for Liontrust After 85% Stock Decline

AI Summary

Portfolio managers from GAM Funds are advocating for a strategic review at Liontrust Asset Management, citing an approximate 85% decline in share price since September 2021. Liontrust's assets under management fell from £42.3 billion ($56.5 billion) to about £22 billion, leading to a market valuation of just 0.68% of AUM. Since a failed acquisition bid for GAM in summer 2023, Liontrust’s share price has dropped over 60%. GAM Funds hold 2,195,000 shares in Liontrust, equating to roughly 3.6% of its share capital, and the letter highlights leadership's inadequate strategy for recovery.