(Alliance News) - Liontrust Asset Management PLC on Wednesday upped its interim dividend despite profit narrowing in the first half of its financial year.
The London-based asset manager posted pretax profit for the six months ended September 30 of GBP6.9 million, narrowing 26% from GBP9.3 million a year prior.
At September 30, assets under management and advice were GBP20.60 billion, up 28% since March and 41% from a year before.
At November 20, AuMA stood at GBP28.06 billion, most notably boosted by the acquisition of Architas Ltd's UK investment business at the end of October.
Net inflows were GBP1.75 billion in the recent six months, up from GBP1.37 billion a year prior.
"Liontrust has continued to operate efficiently and productively with no disruption for investors, with your company generating strong net positive flows of GBP1.75 billion in the six months to 30 September. This has been achieved without the usual face-to-face interaction with colleagues, clients and companies that is so important to the normal functioning of asset management," Chair Alastair Barbour said.
Chief Executive John Ions said he has seen a shift in towards more sustainable investing.
"Active managers have the opportunity to add value through sustainable investment if they avoid greenwashing. At the heart of any successful business are its clients, and ours are clearly telling us they want their money to have a positive impact on society and the world at large. To ensure Liontrust delivers this, we are committed to pushing forward our levels of engagement to produce the best possible outcomes for investors," Ions said.
Liontrust declared an interim dividend of 11.0 pence per share, up 22% from 9.0 pence per share a year prior.
Going forward, Barbour said: "Liontrust's focus on robust investment processes and building performance, a business, a brand and client relationships for the long term have proved their value during this year's crisis. This gives Liontrust resilience and the ability to continue to grow in the future."
Liontrust shares were down 4.2% at 1,380.00 pence each in London on Wednesday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.