TIDMLIO
RNS Number : 5423M
Liontrust Asset Management PLC
09 January 2019
Embargoed until 7am on 9 January 2019
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust"), the specialist
independent fund management group, today issues a trading update
for the period from 1 October to 31 December 2018 (the
"Period").
Highlights
-- Assets under management ("AuM") were GBP11.2 billion as at
close of business on 31 December 2018 (30 September 2018: GBP12.0
billion).
-- Net inflows of GBP471 million in the three months ended 31
December 2018 and GBP1,194 million for the nine months ended 31
December 2018.
Commenting, John Ions, Chief Executive, said:
"Liontrust has continued to generate strong sales, with a
successful last three months of 2018 delivering GBP471 million of
net inflows. Liontrust has now recorded net inflows of GBP1.19
billion since the start of the financial year on 1 April 2018.
This has been achieved despite the challenging environment for
equities and bonds in the latter part of 2018. The level of
positive sales is testament to our broader fund management
capability, robust investment processes, the ongoing attraction of
truly active fund management and the power of our distribution.
Through the addition of the Global Fixed Income team of David
Roberts and Phil Milburn from Kames Capital and Donald Phillips
from Baillie Gifford last year and the Sustainable Investment team
from Alliance Trust Investments in 2017, we have further
diversified both the asset classes we manage and our client base.
This diversification has helped to increase sales in the current
financial year and is providing greater stability during volatile
markets.
The Liontrust UK Micro Cap Fund, which is managed by the
Economic Advantage team and will celebrate its three-year
anniversary in March, demonstrates the added value that active
management can provide investors. The Fund was the top performer in
the IA UK Smaller Companies sector in 2018, delivering a positive
return of 3.05%. In comparison, the return of the average fund in
the sector was -11.70%.*
The experience, track record and robust investment processes of
our fund management teams, along with the strength of our
distribution, service and administration, give me great confidence
that Liontrust is well positioned for the future, however
challenging and unpredictable it may be."
*Source: Financial Express, total return (income reinvested and
net of fees), to 31 December 2018
Funds under Management
On 31 December 2018, our AuM stood at GBP11.239 billion and were
broken down by type and process as follows:-
Offshore
Process Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Cashflow Solution 870 477 297 - 96
Economic Advantage 5,508 220 5,194 - 94
Macro Thematic 147 - 137 - 10
European Income 176 - 176 - -
Asia 109 - 99 - 10
Sustainable Investment 3,332 27 3,111 - 194
Global Fixed
Income 328 - 162 - 166
Multi-Asset 769 - - 769 -
Total 11,239 724 9,176 769 570
Funds Flows
The net inflows over the three months to 31 December 2018 are
GBP471 million (2017: GBP571 million). A reconciliation of fund
flows and AuM over the three months to 31 December 2018 is as
follows:-
Offshore
Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuM - 1 October
2018 12,045 1,064 9,651 786 544
Net flows 471 (184) 547 33 75
Market and Investment
performance (1,277) (156) (1,022) (50) (49)
Closing AuM - 31 December
2018 11,239 724 9,176 769 570
Liontrust has recorded net inflows over the nine months to 31
December 2018 of GBP1,194 million (2017: GBP749 million). A
reconciliation of fund flows and AuM over the nine months to 31
December 2018 is as follows:-
Offshore
Total Institutional UK Retail Multi-Asset Funds
GBPm GBPm GBPm GBPm GBPm
Opening AuM - 1 April
2018 10,475 1,144 8,201 700 430
Net flows 1,194 (318) 1,254 94 164
Market and Investment
performance (430) (102) (279) (25) (24)
Closing AuM - 31 December
2018 11,239 724 9,176 769 570
Fund Performance (Quartile ranking)
Quartile Quartile Quartile Quartile Launch
ranking - ranking ranking ranking Date/Manager
Since Launch/Manager - 5 year - 3 year - 1 year Appointed
Appointed
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust UK Growth
Fund 1 1 1 1 25/03/2009
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Special
Situations Fund 1 1 1 1 10/11/2005
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust UK Smaller
Companies Fund 1 1 1 1 08/01/1998
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust UK Micro
Cap Fund 1 1 09/03/2016
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Macro Equity
Income Fund 1 4 3 3 31/10/2003
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Macro UK
Growth Fund 2 4 4 3 01/08/2002
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust European
Growth Fund 1 1 2 3 15/11/2006
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Asia Income
Fund 2 3 3 2 05/03/2012
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust European
Income Fund 3 3 4 2 15/12/2005
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust European
Enhanced Income Fund
(Hedged) 4 4 4 3 30/04/2010
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Global
Income Fund 4 4 2 3 03/07/2013
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust Monthly
Income Bond Fund 2 2 1 4 12/07/2010
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Absolute
Growth Fund 3 1 1 1 19/02/2001
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Corporate
Bond Fund 2 2 1 4 20/08/2012
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Cautious
Managed Fund 1 1 1 23/07/2014
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Defensive
Managed Fund 1 1 1 23/07/2014
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF European
Growth Fund 2 3 3 4 19/02/2001
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Global
Growth Fund 4 2 1 1 19/02/2001
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF Managed
Fund 2 1 1 1 19/02/2001
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust UK Ethical
Fund 2 1 1 1 01/12/2000
------------------------ ---------------------- ---------- ---------- ---------- --------------
Liontrust SF UK Growth
Fund 2 1 1 1 19/02/2001
------------------------ ---------------------- ---------- ---------- ---------- --------------
Source: Financial Express, total return (income reinvested and
net of fees), to 31 December 2018 unless otherwise stated, based on
primary share classes. The above funds are all UK authorised unit
trusts or UK authorised ICVCs (primary share class). 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 3 January 2019.
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
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 Liontrust. 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
Liontrust'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
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END
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