Liontrust profits climb 45% to £12m

Liontrust profits climb 45% to £12m

Liontrust Asset Management has reported a 45 per cent increase in adjusted profit before tax in its full year results, as it outlined its plans to diversify into alternative investments.

Adjusted profit before tax for the year ended March 31 2015 was £12.1m, up from £8.4m in 2014.

The asset manager announced a rise in assets under management of 24 per cent to £4.5bn during the year, as net inflows into its funds hit £667m.

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Chief executive John Ions pointed to the recent hire of Kristof Bulkai, Patrick Cadell and Hugo Rogers from F&C Investments to form a new global equities team.

Mr Ions said: “We are launching the Dublin-based Global Strategic Equity fund and then a global water and agriculture fund later this year.

“The enhancement of our alternative investments offering is important to meet clients’ changing asset allocation and diversification requirements.”

Pre-tax profits were £7.3m, compared to £3.2m a year earlier, including costs of £4.8m.

According to the asset manager, seven out of its eight actively managed unit trusts are in the first quartile of their respective sectors since launch, or since the appointment of the current managers.