The decision to cut Ross Hollyman's global equity team, which ran less than $1m of internal money, has cost boutique manager Liontrust £781,000.
Liontrust Asset Management is to launch its European Value fund next month.
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.
Liontrust has recruited Ross Hollyman's three-strong team from GAM to assist in establishing the boutique's global equities arm.
Gam has launched its latest offering for European specialist Ross Hollyman, the Gam Star Absolute Eur...
Gam is to launch its first income strategy, the European Systematic Value & Income fund. The veh...