MAIDSTONE-based Ashcourt Asset Management has expanded in a £45 million deal.

Ashcourt has acquired a team of five investment managers from DHM Asset Management, which has offices in Brighton and Epsom.

The deal brings a total of £250 million under the firm's management.

Ashcourt chief executive John Morton said: “This deal is a clear example of Ashcourt doing what it said it would do and our commitment to growth.

"It demonstrates our confidence in fund management as a business, in our team, as well as the stock market during this period of instability.”