JOHCM's Beagles backs former CEO's new firm Polar Capital in shift towards asset managers

Also invested in Liontrust

JO Hambro Capital Management's (JOHCM) Clive Beagles has bought into Liontrust Asset Management and Polar Capital in his £4bn UK Equity Income fund.

He initiated the new positions in Q3 last year on the back of the asset managers' "strong organic flows", solid performance and "interesting opportunities ahead". The manager now holds 40-50bps each in the two groups. "Polar Capital now has Gavin Rochussen as chief executive, who joined from here [JOHCM] in July 2017," Beagles said. Rochussen drove JOHCM from assets under management of £1.5bn in 2008 when he become CEO to £23.9bn when he resigned on 30 September 2016. Since joining Polar Capital, he has announced plans to hire new fund management teams, as well as expand into the US m...