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Article | 01 July 2020 | Corporate news
01 July 2020: Architas, part of the global AXA Group, today announced the sale of its UK investment business to Liontrust Asset Management Plc (“Liontrust”). The UK investment business, which includes two regulated legal entities Architas Multi-Manager Limited and Architas Advisory Services Limited, consists of UK regulated funds and UK advisory business with around £5.6bn* in assets. Subject to regulatory approval and approval from Liontrust shareholders, it is expected the sale will be completed by the end of this year. Liontrust has conditionally agreed to acquire the Architas UK investment business for a total consideration of up to £75 million.
Matthieu Andre, CEO, Architas, said:
“We would like to thank all our clients who have been with Architas since our launch in the UK over 10 years ago. Their trust has allowed us to establish a strong business in the UK and we will be doing everything we can do ensure a smooth transition to Liontrust. In particular, financial advisers should be assured that there will be no change to the risk/reward objectives of the funds or the target risk investment methodology on the risk profiled funds, and no change to the unfettered investment philosophy of the funds.
“Our UK investment business has grown steadily over the past decade, which is a testament to the strength of our relationships with both financial advisers and clients, and a reflection of the passion and dedication of our staff. As such, the decision to sell has been a difficult one but is the best for this business to continue to flourish.
“We are confident that Liontrust, given their deep commitment to clients and their UK focus, is a great strategic and cultural fit for our UK investment business. Liontrust already occupies an excellent position in the UK with strong links to financial advisers, which the acquisition of our UK investment business will help to strengthen.
“Outside of the UK, Architas has grown exponentially to become a global business focused on supporting AXA entities and their partners across Europe and Asia relying on state of the art multi-asset and multi-management capabilities. We have decided to leverage this growth and to focus on our core strength and scale and to divest from running an independent regulated investment business in the UK.
“Architas has ambitious global growth plans aligned with the ones of the AXA Group and will continue to operate outside of the UK, wherever we have a strong AXA life and savings presence.”
The transaction consists of all Architas UK regulated funds and UK advisory business with around £5.6bn in assets*. Architas and Liontrust will be working closely together over the coming months to finalise the details of the sale, which remains subject to regulatory approval and approval from Liontrust shareholders.
The value of investments can fall as well as rise. Clients could get back less than they invest.
*£5.6bn assets under management, advice and administration as at close of business on 19 June 2020 for the Funds and 31 May 2020 for the investment advisory services
Fenchurch Advisory Partners LLP is financial adviser to AXA and Linklaters LLP is legal counsel to AXA in relation to this transaction.
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Architas Multi-Manager Limited (FCA Firm Reference Number 477328, registered in England: No. 06458717) and Architas Advisory Services Limited (FCA Firm Reference Number 749577, registered in England: No. 07055766) are authorised and regulated by the Financial Conduct Authority (FCA). Both companies are registered at 5 Old Broad Street, London, EC2N 1AD and are owned by Architas Limited (registered in England: No 02638607), which is 100% owned by AXA SA (a company registered in France).
Architas Limited also owns two other legal entities; Architas Multi-Manager Europe Limited (AMMEL) and Architas Asia Limited (AAL). The Architas Group of businesses also includes Architas France, Architas SA and Architas Solutions DAC.
The AXA Group is a worldwide leader in insurance and asset management, with 160,000 employees serving 108 million clients in 57 countries. In 2019, IFRS revenues amounted to Euro 103.5 billion and underlying earnings to Euro 6.5 billion. AXA had Euro 969 billion in assets under management as of December 31, 2019. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY. The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD. It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.