InvestmentsJan 9 2019

Hires and acquisitions boost Liontrust AUM

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Hires and acquisitions boost Liontrust AUM

Liontrust attracted net inflows of £471m in the three months to the end of December 2018, but the sharp downturn in markets means the firm's total assets under management (AUM) fell by £800m.

Total assets at the end of December were £11.2bn, down from £12bn at the end of September.

The company credited the inflows to the global fixed income team of David Roberts and Phil Milburn, who were hired from Kames Capital and Douglas Phillips from Baillie Gifford, and to the ethical funds business acquired from Alliance Trust.

The company’s economic advantage division, which contains a range of UK equity funds managed by Anthony Cross and Julian Fosh and colleagues, is responsible for £5.5bn of the assets under management.

The sustainable investment funds contributed £3.3bn of assets and the fixed income team £300m, while the multi asset fund range run by John Husselbee is responsible for £769m of assets.

Company chief executive John Ions said: "Liontrust has continued to generate strong sales, with a successful last three months of 2018 delivering £471m of net inflows.

"Liontrust has now recorded net inflows of £1.19bn since the start of the financial year on April 1 2018.

"This has been achieved despite the challenging environment for equities and bonds in the latter part of 2018.

"The level of positive sales is testament to our broader fund management capability, robust investment processes, the ongoing attraction of truly active fund management and the power of our distribution.

"Through the addition of the Global Fixed Income team of David Roberts and Phil Milburn from Kames Capital and Donald Phillips from Baillie Gifford last year and the Sustainable Investment team from Alliance Trust Investments in 2017, we have further diversified both the asset classes we manage and our client base.

"This diversification has helped to increase sales in the current financial year and is providing greater stability during volatile markets."

david.thorpe@ft.com