Source - RNS
RNS Number : 4827K
Liontrust Asset Management PLC
11 April 2018
 

Embargoed until 7am on 11 April 2018

 

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 January to 31 March 2018 (the "Period").

 

Highlights

 

·     Assets under management ("AuM") were £10.5 billion as at close of business on 31 March 2018 (31 March 2017: £6.5 billion), an increase of £4 billion or 61% over the financial year to 31 March 2018

 

·     Net inflows of £255 million in the Period (2017: £200 million ) and net inflows for the financial year to 31 March 2018 of £1,004 million (2017: £482 million)

 

Commenting, John Ions, Chief Executive, said:

 

"It has been a very successful and transformational year for Liontrust. We have delivered £1 billion of net inflows and a 61% growth in our AuM, reflecting the power of both our fund management and distribution capability and the investment we have made in these areas over the past few years. Liontrust had the 11th largest net retail sales in the UK in 2017 and had the 13th largest total net sales, according to the Pridham Report.

 

Having acquired the Sustainable Investment team at the start of the financial year, its AuM has increased by £500 million over the past 12 months to reach nearly £3 billion. This has positioned us not only with critical mass but a fantastic track record from a long established team. The demand for sustainable investing continues to increase and we are well positioned to benefit from this.

 

The recruitment of the leading global fixed income team of David Roberts, Phil Milburn and Donald Phillips further demonstrates that Liontrust is well positioned to attract leading industry talent and their first fund - the Ireland-domiciled GF Strategic Bond Fund - will launch this Friday.

 

Our commitment to active management, driven by strong investment processes, has never been more important as the passive versus active debate continues to divide investors.

 

The asset management industry is under immense scrutiny from both regulators and, more importantly, investors. This is a time of great opportunity, however, and the successful companies will offer strong long-term performance in line with client expectations combined with first class service and communication.

 

By continuing to focus on these core objectives, we can engender trust, retain investor loyalty and look forward with confidence." 

 

Funds under Management

 

On 31 March 2018, our AuM stood at £10.475 billion and were broken down by type and process as follows:-

 

Process

Total

Institutional

UK Retail

Multi-Asset

Offshore Funds

 

(£m)

(£m)

(£m)

(£m)

(£m)

Cashflow Solution

973

551

313

-

109

Economic Advantage

4,974

386

4,507

-

81

Macro Thematic

442

153

264

-

25

European Income

232

-

232

-

-

Asia

114

-

104

-

10

Sustainable Investment

2,996

54

2,737

-

205

Multi-Asset

700

-

-

700

-

Indexed

44

-

44

-

-

Total

10,475

1,144

8,201

700

430

 

Funds Flows

 

The net inflows over the Period are £255 million (2017: £200 million). A reconciliation of fund flows and AuM over the Period is as follows:-

 

 

Total

Institutional

UK Retail

Multi-Asset

Offshore Funds

 

(£m)

(£m)

(£m)

(£m)

(£m)

 

 

 

 

 

 

Opening AuM - 1 January 2018

10,556

1,037

8,392

692

435

 

 

 

 

 

 

Net flows

255

96

109

36

14

 

 

 

 

 

 

Market and Investment performance

(336)

11

(300)

(28)

(19)

 

 

 

 

 

 

Closing AuM - 31 March 2018

10,475

1,144

8,201

700

430

 

Liontrust recorded net inflows of £1,004 million in the financial year to 31 March 2017 (2017: £482 million). A reconciliation of fund flows over the financial year is as follows:-

 

 

Total

Institutional

UK Retail

Multi-Asset

Offshore Funds

 

£m

£m

£m

£m

£m

 

 

 

 

 

 

Opening AuM - 1 April 2017

6,523

1,044

4,648

612

219

 

 

 

 

 

 

Net flows

1,004

(24)

906

76

46

 

 

 

 

 

 

Acquisitions*

2,518

49

2,316

-

153

Market and Investment performance

430

75

331

12

12

 

 

 

 

 

 

Closing AuM - 31 March 2018

10,475

1,144

8,201

700

430

 

* Relates to the acquisition of Alliance Trust Investments Limited which completed on 1 April 2017.

 

Fund Performance (Quartile ranking)

 

 

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

2

25/03/2009

Liontrust Special Situations Fund

1

1

1

1

10/11/2005

Liontrust UK Smaller Companies Fund

1

1

1

2

08/01/1998

Liontrust UK Micro Cap Fund

2

-

-

2

09/03/2016

Liontrust Macro Equity Income Fund

1

3

4

3

31/10/2003

Liontrust Macro UK Growth Fund

2

3

4

3

01/08/2002

Liontrust European Growth Fund

1

2

1

4

15/11/2006

Liontrust Asia Income Fund

2

2

3

3

05/03/2012

Liontrust European Income Fund

3

4

4

4

15/12/2005

Liontrust European Enhanced Income Fund (Hedged)

4

4

4

2

30/04/2010

Liontrust Global Income Fund

3

-

3

2

03/07/2013

Liontrust Monthly Income Bond Fund

1

1

1

1

12/07/2010

Liontrust SF Absolute Growth Fund

4

1

1

1

19/02/2001

Liontrust SF Corporate Bond Fund

1

1

1

1

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

2

2

3

19/02/2001

Liontrust SF Global Growth Fund

4

2

2

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), bid to bid, to 31 March 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). 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 6 April 2018.

 

Notice of Full Year Results Announcement

 

Liontrust confirms that it will be announcing its full year results for the financial year ended 31 March 2018 on Wednesday, 27 June 2018.

 

 

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


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