Source - LSE Regulatory
RNS Number : 4570L
Liontrust Asset Management PLC
13 January 2021
 

LEI: 549300XVXU6S7PLCL855

For immediate release

13 January 2021

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 October to 31 December 2020.  

 

Highlights

 

·    Net inflows of £792 million in the three months ended 31 December 2020 and £2,540 million for the nine months ended 31 December 2020.

 

·    Assets under management and advice ("AuMA") were £29.4 billion as at close of business on 31 December 2020, an increase of 43% over the quarter and 83% since the start of the current financial year.

 

·  The acquisition of Architas Multi-Manager Limited and Architas Advisory Services Limited (together "Architas UK Investment Business"), announced on 1 July 2020 completed on 30 October 2020, adding £5.6 billion to AuMA.

 

·    On 2 October 2020, Liontrust announced the sale of the Asia Income investment team and the closure of the European Income and Macro Thematic investment teams.

 

·    AuMA as at close of business on 11 January 2021 were £30.1 billion.

 

Commenting, John Ions, Chief Executive, said:

 

"I am incredibly proud of how the whole Company continues to operate successfully, achieving our strategic objectives through the global pandemic.

 

It is at times like this that adherence to core beliefs and investment processes are vital. Liontrust and our funds have shown great resilience over the past 10 months. The strength of Liontrust's investment teams, brand and distribution is shown by the fact we generated net inflows of £792 million over the last three months of 2020 and £2.5 billion since 1 April. Our AuMA has increased to £30.1 billion from £16.1 billion on 1 April 2020.

 

Following its acquisition at the end October 2020, the Architas UK Investment Business is now fully rebranded and integrated. The speed and efficiency of this could not have been achieved without clear vision and strong operational processes across the Company.

 

With the addition of the Liontrust Multi-Asset funds, we now have a compelling proposition to help advisers meet their client objectives. Liontrust's success has been built on putting our clients at the core of everything we do. Combining this investment proposition with our sales and marketing skills enables Liontrust to enhance the service provided to advisers and expand our distribution in this key part of the market.

 

An increasing number of investors want their investments to make positive contributions to society, the environment and the economy. The world we live in today needs to and can improve by investors demanding more from the companies they invest in.

 

Our Sustainable Investment team will have been successfully engaging with the companies they invest in for 20 years in February 2021. Over the past two decades, the team have demonstrated the ability of their investment process to outperform mainstream funds and the impact of their funds on sustainable development.

 

Asset managers have an important role to play in the economy supporting businesses through the pandemic and the economic recovery to follow. Working with innovative companies to allocate capital towards a positive outcome will continue to deliver products and services that benefit the economy and society.

 

I am confident that Liontrust will maintain its growth because of the Company's continued focus, our six excellent investment teams, diversification across funds and distribution markets, strong brand and first-class service."

 

Assets under management and advice

 

On 31 December 2020, our AuMA stood at £29,428 million and were broken down by type and process as follows:

 

Process

Total

Institutional

UK Retail

Multi-Asset

Offshore

 

(£m)

(£m)

(£m)

(£m)

(£m)

Sustainable Investment

9,278

130

8,425

-

723

Economic Advantage

8,338

278

7,750

-

310

Multi-Asset

7,101

-

-

7,101

-

Global Equity

2,686

195

2,491

-

-

Cashflow Solution

1,201

806

340

-

55

Global Fixed Income

824

-

340

-

484

Total

29,428

1,409

19,346

7,101

1,572

 

Note: AuMA for the Liontrust Asia Income Fund is excluded as the fund is in the process of being transferred to Somerset Capital Management LLP. AuMA for the European Income team is included in Cashflow Solution investment team AuMA and Macro Thematic team AuMA is included in Global Equity investment team and Economic Advantage investment team AuMA.

 

AuMA as at close of business on 11 January 2021 were £30,101 million.

 

Flows

 

The net inflows over the three months to 31 December 2020 are £792 million (2019: £836 million). A reconciliation of fund flows and AuMA over the three months to 31 December 2020 is as follows:

 

 

Total

Institutional

UK Retail

Multi-Asset

Offshore

 

(£m)

(£m)

(£m)

(£m)

(£m)

 

 

 

 

 

 

Opening AuMA - 1 October 20201

20,598

1,170

17,288

963

1,177

 

 

 

 

 

 

Net flows

792

93

382

41

276

 

 

 

 

 

 

Market and Investment performance

2,421

146

1,676

480

119

Acquisition of AuMA2

5,617

-

-

5,617

-

 

 

 

 

 

 

Closing AuMA - 31 December 2020

29,428

1,409

19,346

7,101

1,572

 

The net inflows over the nine months to 31 December 2020 are £2,540 million (2019: £2,203 million). A reconciliation of fund flows and AuMA over the nine months to 31 December 2020 is as follows:

 

 

Total

Institutional

UK Retail

Multi-Asset

Offshore

 

(£m)

(£m)

(£m)

(£m)

(£m)

 

 

 

 

 

 

Opening AuMA - 1 April 2020

16,078

988

13,275

840

975

 

 

 

 

 

 

Net flows

2,540

143

1,989

69

339

 

 

 

 

 

 

Market and Investment performance

5,290

278

4,164

575

273

Acquisition/(Disposal) of AuMA1, 2

5,520

-

(82)

5,617

(15)

 

 

 

 

 

 

Closing AuMA - 31 December 2020

29,428

1,409

19,346

7,101

1,572

 

1 The sale of the Asia Income investment team was announced on 2 October 2020 reducing AuMA by £97 million and is included in "Opening AuMA - 1 October 2020" for the net flows for the 3 months ended 31 December 2020 and is included in "Acquisition/(Disposal) of AuMA" for the net flows for the 9 months ended 31 December 2020.

 

2 AuMA and is included in "Acquisition/(Disposal) of AuMA" for the net flows for the 3 months and the 9 months ended 31 December 2020.

 

UK Retail 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

Economic Advantage funds

 

 

 

 

 

Liontrust UK Growth Fund

1

1

2

3

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

1

09/03/2016

Sustainable Future funds

 

 

 

 

 

Liontrust Monthly Income Bond Fund

2

3

4

4

12/07/2010

Liontrust SF Managed Growth Fund

1

1

1

1

19/02/2001

Liontrust SF Corporate Bond Fund

2

2

3

3

20/08/2012

Liontrust SF Cautious Managed Fund

1

1

1

1

23/07/2014

Liontrust SF Defensive Managed Fund

1

1

1

1

23/07/2014

Liontrust SF European Growth Fund

1

1

1

1

19/02/2001

Liontrust SF Global Growth Fund

3

1

1

1

19/02/2001

Liontrust SF Managed Fund

1

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

Global Equity funds3

 

 

 

 

 

Liontrust Balanced Fund

1

1

1

1

31/12/1998

Liontrust China Fund

4

3

4

3

31/12/2004

Liontrust Emerging Market Fund

3

2

2

2

30/09/2008

Liontrust European Opportunities Fund

2

4

4

4

29/11/2002

Liontrust Global Smaller Companies Fund

1

1

1

1

01/07/2016

Liontrust Global Alpha Fund

1

1

1

1

31/12/2001

Liontrust Global Dividend Fund

1

1

1

1

20/12/2012

Liontrust Global Equity Fund

1

1

1

1

31/12/2001

Liontrust Global Technology Fund

2

 2

1

3

15/12/2015

Liontrust Income Fund

1

1

1

1

31/12/2002

Liontrust Japan Equity Fund

2

2

3

2

22/06/2015

Liontrust Japan Opportunities Fund

1

4

4

4

30/09/2002

Liontrust US Income Fund

4

3

4

4

30/09/2010

Liontrust US Opportunities Fund

1

1

1

1

31/12/2002

Cashflow Solution funds

 

 

Liontrust European Growth Fund

1

1

1

1

15/11/2006

Liontrust Global Income Fund

3

3

3

3

03/07/2013

Global Fixed Income funds

 

 

 

 

 

Liontrust Strategic Bond Fund

2

-

-

3

08/05/2018

 

Source: Financial Express to 31 December 2020 as at 7 January 2021, bid-bid, total return, net of fees, based on primary share classes. The Liontrust Asia Income Fund and funds previously managed by the European Income and Macro Thematic investment teams are excluded.  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 or UK authorised ICVCs (primary share class).

 

3 Liontrust Latin America Fund, Liontrust Russia Fund and Liontrust India Fund are not included as they are in IA sectors that are not rankable (e.g. Specialist and Unclassified) as it would not be a fair comparison to make.

 

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

 

N+1 Singer Advisory LLP (Tel: 020 7496 3000)

Corporate Broking: Tom Salvesen

 

Panmure Gordon (Tel: 020 7886 2500)

Corporate Advisory: Stephen Howard

Corporate Broking: Charles Leigh-Pemberton

 

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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