EL7.AI
Stocks•14 July 2026•
2 min read

GAM Managers Cross 5% Liontrust Threshold and Initiate Impax Position

Key Facts

1GAM Special Situations managers have crossed the 5% ownership threshold in Liontrust Asset Management.
2The GAM management team has started building an investment position in Impax Asset Management.
3GAM cited active engagement and deep undervaluation as the primary reasons for these investment moves.

Amid a shifting landscape for asset managers seeking value in a pressured sector, GAM has signaled a bold expansion of its UK holdings. According to reports, GAM’s Special Situations managers have officially crossed the 5% ownership threshold in Liontrust Asset Management. Simultaneously, the team has initiated a new investment position in Impax Asset Management. GAM attributed these maneuvers to a strategy of active engagement, fueled by what they identify as deep undervaluation in the current market prices of both entities.

These investments occur as UK asset managers, including peers like Schroders and Abrdn, grapple with industry-wide outflows and margin compression, which has driven sector valuations to historic lows. Per market data, GAM's increased stake in Liontrust suggests a bet on a corporate turnaround following the firm's recent period of consolidation. Furthermore, establishing a position in Impax—a specialist in sustainable investing—positions GAM to benefit from a potential rebound in ESG-focused capital allocations as market sentiment stabilizes.

Looking ahead, investors will be monitoring the fundamental recovery of UK financial services for further catalysts. Any guidance regarding interest rate trajectories will be critical, as monetary policy continues to be a primary driver of valuation multiples and assets under management (AUM) dynamics across the sector.