(Alliance News) - Liontrust Asset Management PLC on Wednesday said its assets under management surged in its third quarter, helped by a pair of acquisitions.
Since then, its assets under management and advice has risen further, topping the GBP30 billion mark.
Shares in the asset manager were 6.3% higher at 1,328.54 pence each in London on Wednesday morning.
Assets under management and advice on December 31, the end of its third quarter, were GBP29.43 billion, up 43% quarter-on-quarter and an 83% rise since the start of its financial year.
Net inflows during the three-month period totalled GBP792 million, pushing the figure for the first nine months of its financial year up to GBP2.54 billion.
The acquisitions of Architas Multi-Manager Ltd and Architas Advisory Services Ltd, completed at the end of October, added GBP5.6 billion to assets under management and advice.
"Following its acquisition at the end October 2020, the Architas UK Investment Business is now fully rebranded and integrated. The speed and efficiency of this could not have been achieved without clear vision and strong operational processes across the company," Liontrust Chief Executive John Ions said.
At the close of play on Monday, Liontrust's assets under management and advice amounted to GBP30.10 billion. The figure is almost double the GBP16.08 billion from the end of its last financial year on March 31.
By Eric Cunha; ericcunha@alliancenews.com
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