Liontrust, the London asset manager rocked by the resignation of its star managers two months ago, is to carry out a sweeping restructure of its funds' management after suffering redemptions worth £1.2bn (€1.3bn), over a third of its total assets under management. It has also announced it is to launch into fixed income by hiring an established credit team.

Liontrust's existing equities fund managers will take over the portfolios managed by Jeremy Lang and William Pattisson, who resigned in January.