Liontrust Asset Management has completed the acquisition of Neptune Investment Management for up to £40m.

Following the acquisition, Neptune’s 19 funds, spanning global, income, regional and emerging markets, have all been transferred, with no planned changes to their managers or investment processes.

The Neptune investment team, headed by Robin Geffen, will now be called the Liontrust Global Equity team.

Robin Geffen will focus on managing funds and the investment team, while his Neptune Global Income fund has been renamed the Liontrust Global Dividend fund.

Liontrust said the acquisition strengthens its fund range and investment skills mostly in areas not covered by its existing eight investment teams.

The acquisition has increased Liontrust’s assets by an additional £2.8bn up from £14.1bn as of 30 June 2019.

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Liontrust chief executive John Ions said: “The range of funds managed by the Liontrust Global Equity team broadens our product range and will help us further our growth strategy.

“Liontrust has moved forward strongly over the last several years. We believe our business is well positioned to continue this growth with an excellent investment proposition and our continued focus on client service.”

Geffen said: “We are delighted to be joining Liontrust and benefiting from the leadership at the company along with the impressive sales and marketing teams. We have seen how they have grown awareness and assets for other investment teams at Liontrust.”