Liontrust

The departure of star managers Jeremy Lang and William Pattisson in April has impacted on Liontrust Asset Management's profits, which fell to just £0.5m for the six months to 30 September, down from £6.1m for same period in 2008.

Liontrust has promoted Simon Hildrey to marketing and communications director following Rob Page's resignation in September.

GAM is closing its European Systematic Value & Income fund today ahead of manager Ross Hollyman's move to Liontrust at the start of next year.

Net redemptions at Liontrust have slowed significantly in recent months, with the net outflow in offshore and retail funds amounting to just £27m from 1 July to 22 September.

Marketing manager Rob Page has resigned from Liontrust.

Hargreaves Lansdown has added the Liontrust European Absolute Return fund to its Wealth 150 list.

Our investment process identifies three qualities in a company: strong cashflow returns from its operating assets, better-than-expected earnings growth and ignorance of the first two.

The overall economic picture, from the combined newsflow at macro and individual company level, is one of uneasy stability.

Liontrust has handed Skandia sole distribution rights to its recently-launched European Absolute Return fund in the UK.

GAM is likely to shut Ross Hollyman's $200m fund range when he leaves for Liontrust at the end of this year.