TIDMLIO
RNS Number : 3287D
Liontrust Asset Management PLC
19 October 2022
LEI: 549300XVXU6S7PLCL855
For immediate release
19 October 2022
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust", or the "Company"),
the specialist independent fund management group, today issues its
trading update for the six months ended 30 September 2022.
Highlights
-- Net outflows of GBP1.6 billion in the three months ended 30
September 2022 and GBP2.2 billion for the six months ended 30
September 2022.
-- Assets under management and advice ("AuMA") were GBP31.7
billion as at 30 September 2022, a decrease of 5.5% over the
financial year (GBP33.5 billion as at 31 March 2022).
-- AuMA as at 14 October 2022 were GBP31.2 billion.
Commenting, John Ions, Chief Executive, said:
"Despite the challenging period for markets and Liontrust that
we have been experiencing this year, I am confident about the
strengths of our business and the long-term value we can offer
clients. We have rigorous processes across the business to enable
us to achieve our long-term strategic objectives and create
opportunities for growth.
After decades of low inflation and cheap liquidity, we have
entered a new environment for investors. In the future, successful
asset managers will be those that excel at distribution, have a
strong brand and are innovative at product development for multiple
distribution channels, in addition to strong investment
management.
Over the last decade, we have been building an asset management
business at Liontrust that centres around the client proposition in
managing and delivering successful long-term solutions for the
ever-important savings needs of our investors.
We continue to enhance our investment management and
distribution capabilities both organically and via acquisitions. We
continue to enhance our investment management and distribution
capabilities both organically and via acquisitions. Our
acquisitions over the years have demonstrated how they can deliver
both immediate product development, such as sustainable investing
and global equities, and diversification internationally and in the
institutional market to generate future organic growth. The recent
acquisition of Majedie focused on its institutional investment
capability and client base. Combining these with a strong brand and
product development capabilities provides a firm foundation for
future growth.
We have great confidence in our robust investment processes,
which is reflected in our long-term performance and the fact that,
despite stock market de-ratings, operationally the majority of the
companies that the teams hold continue to perform as the fund
managers expect. The volatile markets, while challenging, are
presenting opportunities to invest in many high-quality companies
around the world on highly attractive valuations.
Our strong brand and continued positive engagement with clients
are shown by the fact that our Sustainable Investment virtual
conference in November is on target to eclipse the more than 700
professional intermediaries who signed up two years ago when this
conference was last held.
Looking ahead, we will continue to focus on expanding our sales
by funds, geographies and clients. With the excellence of our
investment teams, distribution and brand, underpinned by our strong
balance sheet, Liontrust is well positioned to generate future
growth."
Assets under management and advice
On 30 September 2022, our AuMA stood at GBP31,695 million and
were broken down by type and investment process as follows:
Process Total Institutional Investment UK Retail Alternative International
Accounts Trusts Funds Funds Funds
& Funds & MPS & Accounts
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Sustainable
Investment 11,005 323 - 10,049 - 633
Economic Advantage 7,577 417 - 6,909 - 251
Multi-Asset 5,893 - - 5,546 347 -
Global Equity 1,163 62 - 1,101 - -
Global Innovation 535 - - 535 - -
Cashflow Solution 989 517 - 354 112 6
Global Fundamental 4,089 1,347 1,059 1,086 451 146
Global Fixed
Income 444 - - 166 - 278
Total - 30
Sep 2022 31,695 2,666 1,059 25,746 910 1,314
AuMA as at 14 October 2022 were GBP31,221 million.
Flows
The net outflows over the three months to 30 September 2022 were
GBP1,646 million (2021: net inflows GBP1,085 million). A
reconciliation of fund flows and AuMA over the three months to 30
September 2022 is as follows:
Institutional Investment UK Retail Alternative International
Accounts Trusts Funds Funds Funds
Total & Funds & MPS & Accounts
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA
- 1 Jul 2022 34,245 3,280 1,146 27,390 900 1,529
Net flows (1,645) (522) 0 (1,003) 53 (173)
Market and Investment
performance (905) (92) (87) (641) (43) (42)
Closing AuMA
- 30 Sep 2022 31,695 2,666 1,059 25,746 910 1,314
The net outflows over the six months to 30 September 2022 were
GBP2,187 million (30 September 2021: net inflows GBP2,088 million).
A reconciliation of fund flows and AuMA over the three months to 30
September 2022 is as follows:
Institutional Investment UK Retail Alternative International
Accounts Trusts Funds Funds Funds
Total & Funds & MPS & Accounts
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA
- 1 Apr 2022 33,548 1,408 0 30,113 370 1,657
Net flows (2,187) (580) 0 (1,339) 172 (440)
Market and Investment
performance (4,814) (473) (180) (3,906) (27) (228)
Majedie acquisition 5,148 2,311 1,239 878 395 325
Closing AuMA
- 30 Sep 2022 31,695 2,666 1,059 25,746 910 1,314
UK Retail 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
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Economic Advantage funds
-----------------------------------------------------------------------------------------------------------
Liontrust UK Growth
Fund 1 1 1 1 25/03/2009
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Special
Situations Fund 1 1 1 3 10/11/2005
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust UK Smaller
Companies Fund 1 1 1 1 08/01/1998
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust UK Micro
Cap Fund 1 1 1 1 09/03/2016
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Sustainable Future funds
-----------------------------------------------------------------------------------------------------------
Liontrust SF Monthly
Income Bond Fund 2 3 2 3 12/07/2010
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Managed
Growth Fund 2 1 1 4 19/02/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Corporate
Bond Fund 3 4 4 4 20/08/2012
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Cautious
Managed Fund 1 2 4 4 23/07/2014
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Defensive
Managed Fund 1 2 3 4 23/07/2014
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF European
Growth Fund 2 4 4 4 19/02/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Global
Growth Fund 3 1 1 4 19/02/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF Managed
Fund 1 1 1 4 19/02/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust UK Ethical
Fund 2 2 4 4 01/12/2000
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust SF UK Growth
Fund 2 3 4 4 19/02/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Global Innovation funds
-----------------------------------------------------------------------------------------------------------
Liontrust Global
Dividend Fund 2 1 1 4 20/12/2012
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Global
Innovation Fund 1 3 3 4 31/12/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Global Equity funds(1)
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Balanced
Fund 1 1 1 4 31/12/1998
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust China Fund 4 4 3 4 31/12/2004
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Emerging
Market Fund 2 4 3 3 30/09/2008
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Global
Smaller Companies
Fund 1 1 2 4 01/07/2016
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Global
Alpha Fund 1 1 1 4 31/12/2001
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Global
Technology Fund 3 2 2 3 15/12/2015
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust India Fund 4 4 1 3 29/12/2006
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Japan Equity
Fund 2 2 1 1 22/06/2015
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Latin America
Fund 2 2 3 4 03/12/2007
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Cashflow Solution funds
---------------------------------------------------------------------------- ---------- -----------------
Liontrust European
Dynamic Fund(2) 1 1 1 1 15/11/2006
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Global Fixed Income
funds
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust Strategic
Bond Fund 2 - 3 2 08/05/2018
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Global Fundamental
Team funds(3)
---------------------------- ---------------------- ---------- ---------- ---------- -----------------
Liontrust UK Equity
Fund 1 4 3 3 27/03/2003
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Focus
Fund 1 4 4 4 29/09/2003
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Income
Fund 1 1 2 1 31/12/2002
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Equity
Income Fund 2 4 4 4 19/12/2011
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust US Opportunities
Fund 1 1 2 3 31/12/2002
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Edinburgh Investment
Trust Plc(4) 2 - - 1 27/03/2020
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Equity Fund 1 1 1 1 30/06/2014
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Focus Fund 1 1 1 1 30/06/2014
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust GF US Equity
Fund 3 3 3 3 26/06/2014
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust GF UK Equity
Fund 4 4 3 3 03/03/2014
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust GF International
Equity Fund 3 - - 4 17/12/2019
---------------------------- ---------------------- ---------- ---------- ---------- ---------------
Source: Financial Express to 30 September 2022 as at 06 October
2022, bid-bid, total return, net of fees , based on primary share
classes. Edinburgh Investment Trust Plc NAV source: Morningstar.
Past performance is not a guide to future performance, investments
can result in total loss of capital. The above funds are all UK
authorised unit trusts, OEICs, or Irish authorised OEICs (primary
share class).
(1) Liontrust Russia Fund is not included as it is currently
suspended and in an IA sector that is not rankable (e.g.,
Specialist) so it would not be a fair comparison to make.
(2) Liontrust European Growth Fund changed its name to Liontrust
European Dynamic Fund on 11 July 2022.
(3) The onshore and offshore Tortoise funds are not included as
they are not in IA sectors.
(4) Edinburgh Investment Trust Plc uses the IT UK Equity Income
sector.
Notice of Half Year Results Announcement
Liontrust confirms that it will be announcing its half year
results for the six months ended 30 September 2022 on Friday, 18
November 2022.
For further information please contact:
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website:
liontrust.co.uk)
John Ions: Chief Executive
Vinay Abrol: Chief Financial Officer & Chief Operating
Officer
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Corporate Finance: Justin McKeegan
Panmure Gordon (Tel: 020 7886 2500)
Corporate Broking: Charles Leigh-Pemberton
Corporate Advisory: Dominic Morley
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
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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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