AIMS Financial Group (AIMS) has taken a 15.8 per cent stake in embattled firm MacarthurCook.

AIMS is now the largest shareholder in MacarthurCook and is looking to turn the company around.

In the last quarter MacarthurCook announced an after-tax loss of $11.46 million.

"AIMS is keen to meet with MacarthurCook's board and management team as soon as possible to develop strategies to turn around the destruction in the value the company has experienced over recent years," AIMS Funds Management director Mark Thorpe-Apps said.

"With our large investor base, we will be positioned to provide capital that is needed by the company."

AIMS has strong ties in Asia and aims to help MacarthurCook develop its business in the region, Thorpe-Apps said.

He has ruled out any management changes for now.

"We do hope to get a seat on the board. A lot of value has been lost due to certain people. We could see one or two eventually leave the company."

The firm is also poised to make similar acquisitions.

"Now is definitely the time to buy funds management businesses rather than build a business from the ground up. We will be looking for similar growth opportunities," Thorpe-Apps said.

AIMS' 15.8 per cent acquisition of the business represents a purchase of 4,248,700 shares at 10 cents a share, which is a 92.6 per cent discount to the $1.35 a share takeover offer made by AMP in June last year.

At the time MacarthurCook's chair and directors voted against the AMP bid.