Tag: Somerset

Liontrust offloads Asia income strategy to Somerset Capital

Liontrust Asset Management agreed to sell its £82 million ($106 million) Asia income strategy to global emerging markets manager Somerset Capital Management, following a review.

In a regulatory filing Friday, the firm said it is selling the rights of its subsidiaries, Liontrust Investment Partners and Liontrust Fund Partners, to manage the Liontrust Asia Income Fund. Somerset will pay £2 million for the acquisition, which includes a team liftout from Liontrust, over five years.

Co-managers Carolyn Chan and Mark Williams, who is also head of Asia-Pacific equities, along with assistant manager Shashank Savla will join Somerset at the end of October as co-managers. The sale is expected to close in the first quarter of 2021. Following completion the fund will be renamed Somerset Asia Income Fund.

Separately, Mr. Williams, alongside Kumar Pandit, was named co-manager of the firm’s Somerset Emerging Markets Dividend Growth Fund, which has £486 million in assets. Current

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Somerset County Business Partnership holds first diversity summit

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Gannett, the owner of USA TODAY and over 260 local news operations, announced an initiative to make its workforce as diverse as the country by 2025.

USA TODAY

BRIDGEWATER – Diversity in the workplace leads to greater success.

That was one of the messages delivered at the Somerset County Business Partnership’s first Somerset County Diversity and Inclusion Summit held virtually on Sept. 24.

“Diverse teams drive better returns,” said Magda Yrizarry, chief diversity officer at Verizon. “When leaders speak of this, it resonates with shareholders. Our leadership is committed to activating the awareness of our employees.”

Yrizarry said the power of inclusion is important to employers, but there is no cookie-cutter approach to making progress on the issue. Yrizarry said business leaders must be conscious of the importance of diversity and care and inclusion in the workplace.

The summit was a continuation of the Business Partnership’s initiative to provide

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