Kingspan shareholder cuts stake over Grenfell fire link

Liontrust Asset Management lowered its sustainability rating of Kingspan last month, saying the Grenfell inquiry has 'raised serious concerns about the culture and controls within the insulation business at Kingspan'

Grenfell Tower in west London: Kingspan was unaware its product was used on the tower until after the fire, chief executive Gene Murtagh told staff.

A long-time Kingspan shareholder reduced its stake on concerns about the Irish giant's insulation business raised by an inquiry into England’s deadliest fire in 75 years.

Liontrust Asset Management lowered its sustainability rating of Kingspan last month, triggering the sale of some stock held by its funds, the company said. The London-based asset manager owned 1.2% of Kingspan at the end of last year after shrinking its holding to about 2.2 million shares from 2.6 million at the end of the second quarter.