Liontrust have announced replacements for Jeremy Lang on their First Income and First Growth funds. Lang, who had been expected to serve a year’s notice and depart Liontrust next year, will now be leaving the company in April. It is believe he will be setting up a new asset management company with fellow manager William Pattisson, who is also leaving Liontrust.
Liontrust First Growth is now being managed by Julian Fosh, who recently joined Liontrust from Saracen, and Anthony Cross. Cross runs the 3 star rated Liontrust Intellectual Capital fund in the UK Smaller Companies sector, but he also has a UK All Companies track record on Liontrust First Opportunities fund, on which he has achieved a 92.5% MRI and average monthly outperformance of 0.38% during just over three years at the helm.
Liontrust First Income fund is being taken over by Gary West and James Inglis-Jones, currently managers of Liontrust’s Continental Europe fund. The duo have the beginnings of a promising record on this fund, having achieved average monthly outperformance of in the 2.3 years since launch. They also ran up some good numbers in the UK Equity Income sector at previous employer JP Morgan, chalking up average monthly outperformance of 0.91% during 2.6 years as co-managers. West and Inglis-Jones have also taken on the running of the Liontrust First Large Cap fund, previously run by Pattisson.