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RNS Number : 2319K
Liontrust Asset Management PLC
06 July 2017
 

Embargoed until 7am on 6 July 2017

 

Stock Exchange Announcement

LIONTRUST ASSET MANAGEMENT PLC

Trading Update

 

Liontrust Asset Management Plc ("Liontrust" or the "Group"), the specialist independent fund management group, is today issuing its financial year end trading update for the period from 1 April to 30 June 2017 (the "Period").

 

Highlights

 

·     Assets under Management ("AuM") as at close of business on 30 June 2017 were £9.3 billion

 

·     UK Retail net inflows of £177 million, second highest quarterly UK Retail net inflow for over seven years, and total net inflows of £22 million in the Period (1 April to 30 June 2016: UK Retail net inflows: £36 million, total net inflows: £66 million)

 

Commenting, John Ions, Chief Executive, said:

 

"The development of our brand and distribution over the last few years, coupled with strong investment performance, is again demonstrated by net retail flows of £177 million over the past three months. Total net flows of £22 million have been impacted by a single repatriation of assets from one institutional client.

 

We welcome the FCA Asset Management Market Study given that the low savings ratio is a problem for the country. As active fund managers, there is a key role for us to play in helping investors meet their financial requirements. The moves to improve transparency, communication and value are steps in the right direction.

 

There is a significant role for the asset management industry to play in alleviating the savings problem. I believe Liontrust is in a strong position to achieve this with our focus on active fund management, investment processes along with client service and communications."

 

Assets under Management

 

On 30 June 2017, our AuM stood at £9,253 million (31 March 2017: £6,523 million).  A reconciliation of AuM as at 30 June 2017 is as follows:-

 

Process

Total

Institutional(1)

UK Retail

Multi-Asset(1)

Offshore Funds

 

(£m)

(£m)

(£m)

(£m)

(£m)

Cashflow Solution

916

493

315

-

108

Economic Advantage

4,182

273

3,841

-

68

Macro Thematic

498

129

343

-

26

European Income

239

-

239

-

-

Asia

102

-

91

-

11

Sustainable Investment

2,663

50

2,434

-

179

Multi-Asset

604

-

-

604

-

Indexed

49

-

49

-

-

Total

9,253

945

7,312

604

392

 

(1) Multi-Asset AuM includes £352 million of AuM that was previously reported as Institutional AuM.

 

Funds Flows

 

Liontrust recorded net inflows for the Period of £22 million (1 April to 30 June 2016: £66 million). A reconciliation of fund flows over the Period is as follows:-

 

 

Total

Institutional(1)

UK Retail

Multi-Asset(1)

Offshore Funds

 

£m

£m

£m

£m

£m

 

 

 

 

 

 

Opening AuM - 1 April 2017

6,523

1,044

4,648

612

219

 

 

 

 

 

 

Net flows

22

(149)

177

(21)

15

 

 

 

 

 

 

Acquisitions

2,518

49

2,316

-

153

Market and Investment performance

190

1

171

13

5

 

 

 

 

 

 

Closing AuM - 30 June 2017

9,253

945

7,312

604

392

 

(1) Multi-Asset AuM includes £352 million of AuM that was previously reported as Institutional AuM, the opening figures have been adjusted accordingly.

 

Fund Performance (Quartile ranking)

 

Our funds continue to deliver strong long-term performance. Fourteen out of our 21 UK-domiciled funds are in the first or second quartile of their respective IA sectors since launch or since the current managers took over the running of the funds.

 

 

Quartile ranking - Since Launch/Manager Appointed

Quartile ranking - 5 year

Quartile ranking - 3 year

Quartile ranking - 1 year

Launch Date/Manager Appointed

Liontrust UK Growth Fund

1

2

1

3

25/03/2009

Liontrust Special Situations Fund

1

1

1

2

10/11/2005

Liontrust UK Smaller Companies Fund

1

1

1

2

08/01/1998

Liontrust UK Micro Cap Fund

2

-

-

3

09/03/2016

Liontrust Macro Equity Income Fund

1

3

4

3

31/10/2003

Liontrust Macro UK Growth Fund

2

4

4

3

01/08/2002

Liontrust European Growth Fund

1

2

1

2

15/11/2006

Liontrust Asia Income Fund

2

2

2

3

05/03/2012

Liontrust European Income Fund

3

4

3

4

15/12/2005

Liontrust European Enhanced Income Fund (Hedged)

4

4

4

4

30/04/2010

Liontrust Global Income Fund

4

-

4

3

03/07/2013

Liontrust Monthly Income Bond Fund

1

1

1

1

12/07/2010

Liontrust SF Absolute Growth Fund

4

1

1

2

19/02/2001

Liontrust SF Corporate Bond Fund

3

1

1

1

19/02/2001

Liontrust SF Cautious Managed Fund

2

-

-

2

23/07/2014

Liontrust SF Defensive Managed Fund

1

-

-

1

23/07/2014

Liontrust SF European Growth Fund

2

2

1

2

19/02/2001

Liontrust SF Global Growth Fund

4

3

3

3

19/02/2001

Liontrust SF Managed Fund

3

1

1

1

19/02/2001

Liontrust UK Ethical Fund

2

1

1

1

10/05/1999

Liontrust SF UK Growth Fund

2

1

1

1

19/02/2001

 

Source: Financial Express, total return, bid to bid, to 30 June 2017 unless otherwise stated, based on primary share classes.  The above funds are all UK authorised unit trusts or UK authorised ICVCs (primary share class). Liontrust FTSE 100 Tracker Fund (index fund) not included. Past performance is not a guide to the future; the value of investments and the income from them can fall as well as rise. Investors may not get back the amount originally subscribed. Quartile rankings correct as at 04/07/2017                                                                                                                

 

For further information please contact:

 

Liontrust Asset Management Plc                              020 7412 1700

John Ions                                                                             www.liontrust.co.uk

Vinay Abrol

Simon Hildrey - Chief Marketing Officer

 

Numis Securities Limited                                             020 7260 1000

Corporate Broking & Advisory - Charles Farquhar, Andrew Holloway

 

Macquarie Capital (Europe) Limited                       020 3037 2000

Advisory - Jonny Allison, Kavita Choitram
Corporate Broking - Alex Reynolds, Nicholas Harland

 

Forward Looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of the Group. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that have not yet occurred. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. As a result, the Group's actual future financial condition, results of operations and business and plans may differ materially from the plans, goals and expectations expressed or implied by these forward-looking statements.  Liontrust undertakes no obligation publicly to update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules of the Financial Conduct Authority).  Nothing in this announcement should be construed as a profit forecast or be relied upon as a guide to future performance.

                                                                                                                                                                               

Other information

The release, publication, transmission or distribution of this announcement in, into or from jurisdictions other than the United Kingdom may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, transmitted or distributed should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

ENDS


This information is provided by RNS
The company news service from the London Stock Exchange
 
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