Liontrust Asset Management has bought UK equities boutique Walker Crips Asset Managers, as the London fund manager continues to expand its business through acquisition.

The move will see Liontrust take on the management of Walker Crips' eight UK equity unit trusts and will boost Liontrust's assets under management by £604m to more than £2bn, according to a statement from the firm. On completion of the acquisition, Walker Crips fund managers Stephen Bailey and Jan Luthman will join Liontrust.