Lang and Pattisson to launch new boutique

Former Liontrust managers Jeremy Lang and William Pattisson plan to set up a new asset management boutique.

Slated to launch by September, Lang and Pattisson are financing the venture - called Ardevora Asset Management - and will also seed the company's portfolios, according to Financial News. The duo also plans to hire two additional fund managers. The company will focus on long/short UK and global portfolios with absolute return targets between 7% and 10% a year. It has yet to receive approval from the Financial Services Authority. Pattisson says: "We want to build a sensible business. We are looking forward to the next 20 years, not to sell out in five years. At Liontrust, people were wo...