Liontrust assets hit £11bn after inflows surge

Liontrust assets hit £11bn after inflows surge

Liontrust has seen its assets under management push above the £11bn mark after seeing net inflows of £320m in the second quarter of the year.

In a trading statement out today, the UK-listed fund manager said its assets under management hit £11.4bn at the end of June, some 9 per cent higher than at the end of March, when they stood at £10.5bn.

Inflows of £320m between the start of April and end of June dwarfed the £22m gathered in the same period last year.

John Ions, chief executive of Liontrust, commended the performance of his fund managers and sales team, and in particular the launch of the Global Fixed Income funds managed by David Roberts, Phil Milburn and Donald Phillips.

Mr Ions said: “The quality of our fund management teams is a key differentiator for Liontrust and means the company is well positioned to continue to grow."

The company saw net sales of £215m from retail clients over the three-month period, taking its overall capital from the sector to just more than £8.9bn.

Assets under management were further enhanced by market performance of £629m over the quarter, the company said.

Some 10 of its 18 funds with five-year track records sit in the top quartile for their sector, according to Liontrust, which referred to Financial Express data, on a total return, income-reinvested basis and net of fees.

At the end of March, the company had posted annual profits before tax of £9.1m, a fall of 3 per cent on the previous year.