Liontrust Asset Management, the London funds house hit hard by the departure of its star managers last year, has unveiled the multi-million pound cost of restructuring its business a day after it launched a major advertising campaign to entice investors back to its funds.

Liontrust was forced to substantially restructure its business after the resignation of star managers Jeremy Lang and Bill Pattisson at the beginning of last year. They were in charge of over 90% of its £3.4bn of assets under management at the time, and investors responded by withdrawing most of their money within months of the announcement.