LEI:
549300XVXU6S7PLCL855
For
immediate release
10
July 2024
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 three months ended 30 June 2024 (the "Period").
·
Net outflows of £0.9 billion in the Period (2023:
£1.6 billion).
·
Assets under management and advice ("AuMA") were £27.0 billion as at 30 June 2024, a decrease over the
Period of 2.8%.
Commenting, John Ions, Chief Executive Officer,
said:
"Labour's large majority in last
week's General Election should herald a period of stability that
will be positive for financial markets. It is encouraging that the
new government has a pro-growth agenda and is committed to the
simplification of pensions.
Along with falling inflation and the
expectation of a reduction in interest rates, this should encourage
international investors to return to the UK and boost capital flows
to the stock market. Given the ever-increasing need for
individuals to save more for their retirement as well, this will
significantly improve the outlook for asset managers.
Liontrust is well placed for this
improving environment as we have a strong brand, distribution,
robust investment processes and a leading reputation for managing
UK equities. Liontrust will also benefit from the progress we have
been making in positioning the Group for the future, including
further expanding our investment and distribution capability,
increasing client engagement and enhancing operations."
Assets under management and
advice
On 30 June 2024, our AuMA stood at
£27,038 million and were broken down by type and investment process
as follows:
|
Process
|
Total
|
Institutional Accounts &
Funds
|
Investment
Trusts
|
UK Retail Funds &
MPS
|
Alternative
Funds
|
International Funds &
Accounts
|
|
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
|
Sustainable Investment
|
9,868
|
313
|
0
|
9,079
|
0
|
476
|
|
Economic Advantage
|
6,310
|
407
|
0
|
5,785
|
0
|
118
|
|
Multi-Asset
|
4,198
|
0
|
0
|
4,089
|
109
|
0
|
|
Global Equities
|
1,171
|
0
|
0
|
1,136
|
26
|
9
|
|
Global Innovation
|
875
|
0
|
0
|
875
|
0
|
0
|
|
Cashflow Solution
|
2,440
|
533
|
0
|
1,582
|
140
|
185
|
|
Global Fundamental
|
2,044
|
342
|
1,153
|
543
|
0
|
6
|
|
Global Fixed Income
|
132
|
0
|
0
|
29
|
0
|
103
|
|
Total
|
27,038
|
1,595
|
1,153
|
23,118
|
275
|
897
|
Flows
The net outflows over the Period
were £923 million (2023: £1,629 million). A reconciliation of fund
flows and AuMA over the Period is as follows:
|
|
Total
|
Institutional Accounts &
Funds
|
Investment
Trusts
|
UK Retail Funds &
MPS
|
Alternative
Funds
|
International Funds &
Accounts
|
|
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
(£m)
|
|
|
|
|
|
|
|
|
|
Opening AuMA - 1 April 2024
|
27,822
|
1,741
|
1,135
|
23,815
|
236
|
895
|
|
|
|
|
|
|
|
|
|
Net flows
|
(923)
|
(145)
|
(10)
|
(772)
|
13
|
(9)
|
|
|
|
|
|
|
|
|
|
Market & Investment
performance
|
139
|
(1)
|
28
|
75
|
26
|
11
|
|
|
|
|
|
|
|
|
|
Closing AuMA - 30 June 2024
|
27,038
|
1,595
|
1,153
|
23,118
|
275
|
897
|
Fund Performance (Quartile
ranking)
|
|
Quartile ranking - Since
Launch / Manager Appointed
|
Quartile ranking - 5
year
|
Quartile ranking - 3
year
|
Quartile ranking - 1
year
|
Launch Date
|
|
Economic Advantage funds
|
|
Liontrust UK Growth Fund
|
1
|
3
|
2
|
3
|
25/03/2009
|
|
Liontrust Special Situations
Fund
|
1
|
3
|
3
|
3
|
10/11/2005
|
|
Liontrust UK Smaller Companies
Fund
|
1
|
2
|
2
|
4
|
08/01/1998
|
|
Liontrust UK Micro Cap
Fund
|
1
|
1
|
1
|
2
|
09/03/2016
|
|
Sustainable Future funds
|
|
Liontrust SF Monthly Income Bond
Fund
|
1
|
1
|
2
|
1
|
12/07/2010
|
|
Liontrust SF Managed Growth
Fund
|
2
|
1
|
3
|
3
|
19/02/2001
|
|
Liontrust SF Corporate Bond
Fund
|
1
|
2
|
3
|
1
|
20/08/2012
|
|
Liontrust SF Cautious Managed
Fund
|
2
|
4
|
4
|
4
|
23/07/2014
|
|
Liontrust SF Defensive Managed
Fund
|
1
|
4
|
4
|
3
|
23/07/2014
|
|
Liontrust SF European Growth
Fund
|
3
|
4
|
4
|
4
|
19/02/2001
|
|
Liontrust SF Global Growth
Fund
|
3
|
3
|
4
|
3
|
19/02/2001
|
|
Liontrust SF Managed Fund
|
2
|
1
|
4
|
3
|
19/02/2001
|
|
Liontrust UK Ethical Fund
|
3
|
4
|
4
|
4
|
01/12/2000
|
|
Liontrust SF UK Growth
Fund
|
3
|
4
|
4
|
3
|
19/02/2001
|
|
Liontrust GF SF US Growth
Fund
|
3
|
-
|
-
|
-
|
07/07/2023
|
|
Global Innovation funds
|
|
Liontrust Global Dividend
Fund
|
2
|
1
|
1
|
1
|
20/12/2012
|
|
Liontrust Global Innovation
Fund
|
1
|
2
|
3
|
1
|
31/12/2001
|
|
Liontrust Global Technology
Fund
|
2
|
2
|
1
|
1
|
15/12/2015
|
|
Global Equity funds
|
|
Liontrust Balanced Fund
|
1
|
1
|
2
|
1
|
31/12/1998
|
|
Liontrust Global Alpha
Fund
|
1
|
2
|
4
|
2
|
31/12/2001
|
|
Liontrust Global Smaller Companies
Fund
|
2
|
3
|
4
|
4
|
01/07/2016
|
|
Liontrust US Opportunities
Fund
|
2
|
3
|
4
|
2
|
31/12/2002
|
|
Liontrust GF US Equity
Fund
|
3
|
2
|
3
|
3
|
26/06/2014
|
|
Liontrust GF International Equity
Fund
|
4
|
-
|
4
|
4
|
17/12/2019
|
|
Liontrust China Fund
|
4
|
3
|
3
|
3
|
31/12/2004
|
|
Liontrust Emerging Market
Fund
|
3
|
4
|
2
|
1
|
30/09/2008
|
|
Liontrust India Fund
|
4
|
2
|
1
|
1
|
29/12/2006
|
|
Liontrust Japan Equity
Fund
|
2
|
1
|
1
|
1
|
22/06/2015
|
|
Liontrust Latin America
Fund
|
3
|
4
|
3
|
1
|
03/12/2007
|
|
Cashflow Solution funds
|
|
|
|
Liontrust European Dynamic
Fund
|
1
|
1
|
1
|
1
|
15/11/2006
|
|
Global Fixed Income funds
|
|
|
|
|
|
|
Liontrust Strategic Bond
Fund
|
3
|
3
|
3
|
2
|
08/05/2018
|
|
Global Fundamental funds
|
|
|
|
|
|
|
Liontrust UK Equity Fund
|
1
|
2
|
2
|
1
|
27/03/2003
|
|
Liontrust UK Focus Fund
|
1
|
3
|
3
|
1
|
29/09/2003
|
|
Liontrust Income Fund
|
1
|
3
|
2
|
3
|
31/12/2002
|
|
Liontrust GF UK Equity
Fund
|
4
|
3
|
2
|
2
|
03/03/2014
|
|
Edinburgh Investment Trust
Plc
|
1
|
-
|
1
|
1
|
27/03/2020
|
Source: Financial Express to 30 June
2024 as at 4 April 2024, bid-bid, total return, net of
fees, based on primary share
classes.
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, Irish authorised OEICs (primary
share class) or UK listed investment trusts. 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. Edinburgh Investment
Trust Plc uses the IT UK Equity Income sector.
For further information please
contact:
Teneo (Tel: 020 7353 4200, Email:
liontrust@teneo.com)
Tom Murray, Colette Cahill, Jessica
Pine
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website:
liontrust.co.uk)
Stephen Corbett: Head of Investor
Relations
Simon Hildrey: Chief Marketing
Officer
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Charles
Leigh-Pemberton
Corporate Finance: James
Moat
Panmure Liberum (Tel: 020 7886 2500)
Corporate Broking: David
Watkins
Corporate Advisory: Atholl
Tweedie
HSBC Bank plc (Tel: 020 7991
8888)
Corporate Broking: Sam McLennan,
James Hopton
Corporate Advisory: Alexander
Paul
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