19 July 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 period 1 April to 30 June 2022.
Highlights
- Net outflows of £0.5 billion in the three months ended 30 June 2022.
- Assets under management and advice (“AuMA“) were £2 billion as at 30 June 2022, an increase of 2.1% over the financial year.
- Majedie Asset Management Limited (“Majedie“) acquisition completed on 1 April 2022 adding £5.1 billion1to AuMA.
- AuMA as at 13 July 2022 were £34.5
- Liontrust won the Award for Group of the Year for the second year running at Incisive Media's Fund Manager of the Year Awards last week.
1 As at close of business on 31 March 2022.
Commenting, John Ions, Chief Executive, said:
“This continues to be a challenging year for investors especially those who have a bias towards growth stocks. Despite the ongoing war in Ukraine and inflationary pressures, supply chain issues and strains on economic growth, we remain confident about the long-term prospects for our investment teams and their processes, along with the quality companies they hold within their portfolios.
Liontrust has not been immune to this environment in terms of both performance and net flows. We continue to focus on what we do well and what has made Liontrust so successful. At the core of this are the rigorous investment processes, along with the strength of our sales and marketing, client communications and brand.
Our confidence in the investment teams and the business as a whole is reflected in the awards we won at Incisive Media's Fund Manager of the Year Awards last week. Liontrust won the Award for Group of the Year for the second year running, the European Dynamic Fund won the Award for Best Europe Fund while the UK Micro Cap and GF High Yield Bond funds were both highly commended in their respective categories.
The investment processes are tried and tested over many years and economic cycles. We are confident in their continued ability to deliver positive outcomes for investors over the long term, as shown by the range of companies they are finding which they believe are undervalued by the market and present investment opportunities.
This is reflected in the other awards we have won over the last month: UK Micro Cap won the UK Smaller Companies Fund Manager of the Year Award at the Small Cap Awards, Liontrust won the Best Investment Trust Group Award at the Online Money Awards, and Liontrust was voted the Best Active Investment Solution Provider and the Best ESG Investment Solution Provider at the Professional Paraplanner Awards.
We continue to invest in the fund management teams and Liontrust's expansion over the last few years is giving us the opportunity to develop investment talent. This includes the formation of the Global Innovation team that is headed by James Dowey and Storm Uru and who have been joined by Clare Pleydell-Bouverie.
The Liontrust Income and US Opportunities funds are moving from the Global Equity team to the Global Fundamental team; the former to be managed by Chris Field, supported by James O'Connor and Dan Ekstein, while George Boyd-Bowman will continue to manage the US fund .
Client engagement is high, such as through the Multi-Asset team's World Market Review roadshow and individual client meetings and group lunches. There is also strong engagement from investors with our digital communications, notably fund manager videos.
The excellence of our investment teams, their processes and client service give me great confidence that we will get through the current macro-economic and political environment in a strong position and continue to deliver for our investors and stakeholders.”