Liontrust has hired James Klempster from Momentum Investment Management for its multi-asset team which has seen assets swell to over £7bn following the acquisition of Architas’ UK multi-manager business.
Klempster (pictured) will co-manage Liontrust’s 26 managed portfolios and white label funds alongside multi-asset boss John Husselbee and the six-strong team, which includes Paul Kim. He will also jointly run the Verbatim funds which Liontrust manages on behalf of SimplyBiz.
He joins the FTSE 250 fund group having spent the last 14 years at Momentum where most recently he was director of investment and led the global investment team and solutions strategy. Prior to that he was a portfolio manager at Avebury Asset Management and an assistant fund manager at NW Brown Group.
Husselbee said that Klempster’s “extensive experience and investment knowledge,” which includes managing target risk funds, would stand the team in good stead.
“I have known James for many years; we share a similar philosophy and approach to multi-asset investing,” Husselbee said. “James will enhance an already strong investment team and we look forward to introducing him to our clients.”
Commenting on his appointment, Klempster added: “Liontrust is an exciting company to be joining with its growth, focus on a robust multi-asset investment process, first-class service to advisers and meeting client expectations. I have got to know John through presenting at the same events over the past few years and our outlook on investing is aligned.”
Multi-asset AUM up 600%
Liontrust’s multi-asset business has ballooned in size following its acquisition of Architas’ UK investment business toward the end of last year. The £75m deal saw the fund group add £5.6bn in assets from Architas’ Multi-Asset Active, Blended and Passive risk profiled fund ranges, as well as income generating and specialist funds, to its existing £1bn in target risk Multi-Asset managed portfolios.
At the end of December assets under management and administration had swelled to £7.1bn.
Liontrust also announced it had axed VAT from its managed portfolios as of Monday, which it said will immediately reduce the cost for IFAs’ clients by 0.06%. The change applies to all its Wealth Solutions Service and MPS portfolios.
See also: Brooks Macdonald becomes latest DFM to scrap VAT on MPS range
