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Fund manager hires drive AUM growth at Liontrust

 Fund manager hires drive AUM growth at Liontrust

The spate of new hires by Liontrust in recent years has borne fruit as inflows reached £1.8bn in the year to March 31, 2019.

Liontrust’s total assets under management at the end of March 2019 was £12.7bn, compared with £10.5bn at the same point in 2018. Of this, £1.8bn came from net inflows, and the remainder of the growth from market movements. 

The sustainable investment team, which joined Liontrust in 2017 from Alliance Trust had assets under management of £3.74bn at the end of March, while the fixed income duo of David Roberts and Phil Milburn, who joined from Kames, as well as Donald Phillips, a high yield bond specialist who joined Liontrust from Baillie Gifford, raised £419m of assets in less than one year since launching their products. 

Company chief executive John Ions said the company would continue to seek new people in areas where it felt new products could be launched to meet investor demand. He added that the asset growth was also a fucntion of the development of the distribution team. 

The company reported a profit of £19m, adjusted from £30m after considering non cash costs such as amortisation of intangible assets. Meanwhile revenue was £85m.

Assets under management were £14bn on June 25, 2019. The company had the seventh highest net sales in asset management industry in 2018. 

david.thorpe@ft.com