Ardevora Asset Management Shuts its Doors Amidst Shrinking Assets

In a significant development in the world of asset management, UK-based Ardevora Asset Management has announced its closure to external clients. Founded in 2010 by former Liontrust fund managers Jeremy Lang and William Pattisson, the firm has decided to halt managing money for third parties and return capital to its clients. This decision comes as Ardevora's assets under management (AUM) dwindled by nearly 90% over the past two years.