Former Liontrust managers Jeremy Lang and Bill Pattisson are preparing to launch their fund management firm, Ardevora Asset Management, in September.

When Lang returns in April from travel abroad, he and Pattisson will set about establishing the investment process for its long/short UK and global equities strategies. A source familiar with the situation said they expected to move to an office near Fleet Street, in London, within weeks. They are also close to hiring two fund managers including Ben Fitchew, a fund manager at Liontrust, who resigned in March.