Liontrust, a fund management firm, has agreed to buy all of the shares of GAM Holding AG, a global investment management firm, subject to certain conditions.

GAM’s investment management division has CHF23.3bn (£20.9bn) in assets under management as of March 31 2023.

The acquisition of GAM by Liontrust will provide significant benefits for Liontrust’s growth and strategic development, including access to wider investment expertise and global distribution networks.

Liontrust will create a setting that allows investment teams to concentrate on managing their portfolios without disruptions, while also ensuring a robust risk and compliance structure.

Additionally, the company will offer support to help achieve performance and increased assets.

The purchase will also expand Liontrust’s product range and customer base, resulting in strong performance during market fluctuations.

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GAM and Liontrust have complementary product offerings, with GAM’s expertise in fixed income and alternatives providing a boost to Liontrust’s offerings in those areas.

The enlarged firm will continue to focus on equities, but it will also broaden its multi-asset and alternative offerings, as well as add wealth management capabilities.

GAM’s strengths in Asia, Japan, emerging markets, thematic global equities, Europe, luxury brands, and UK income will also be integrated into the new company.

After acquiring GAM Holding, Liontrust plans to rebrand all of GAM’s funds under the Liontrust name and have the GAM business operate under the same brand.

The acquisition will enhance global distribution and provide an opportunity to increase sales and market share.

John Ions, Chief Executive of Liontrust, said: “This is a significant acquisition that accelerates the growth of Liontrust through enhancing our distribution globally, product capability and investment talent. Liontrust and GAM are both client centric businesses that thrive on providing solutions and first-class service. The enlarged company will provide the platform from which to deliver this to a broader client base. The quality of the investment teams across the different asset classes, the talent in the business and the breadth of the distribution at GAM, combined with Liontrust’s existing investment capability and strong brand, sales, marketing, and communications, gives me great confidence we will grow the enlarged business to create long-term value. Liontrust and GAM will work together to provide a seamless transition for clients and enhancing the service provided in the future.”

Peter Sanderson, CEO of GAM, added: “I am delighted we have agreed this transaction with Liontrust. Our distinctive approaches to investing and culture are closely aligned, and this combination represents the best opportunity for our talented team of professionals at GAM to continue to provide clients with high conviction active investment strategies. The resulting business will have a strong balance sheet, a broader array of excellent investment products, and a global distribution footprint from which to deliver growth that our shareholders can participate in the future.”

The proposed acquisition is scheduled for completion in the fourth quarter of 2023.