Last checked at 8 Jul 2020 07:00
LEI: 549300XVXU6S7PLCL855
For immediate release
8 July 2020
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust", or the "Company"), the specialist independent fund management group, today issues a trading update for the period from 1 April to 30 June 2020.
Highlights
· Assets under management and advice ("AuMA") were £19.3 billion as at close of business on 30 June 2020, an increase of 20% since the start of the current financial year.
· Net inflows of £971 million in the three months ended 30 June 2020.
· Proposed acquisition of Architas Multi-Manager Limited and Architas Advisory Services Limited (together "Architas UK Investment Business") announced on 1 July 2020, which will add £5.6 billion of AuMA (as at 19 June 2020) when the proposed acquisition completes.
Commenting, John Ions, Chief Executive, said:
"Liontrust has had a very strong start to the new financial year, with a record quarter of positive net flows of £971 million.
Maintaining the momentum of the business during the pandemic is testament to the talent and dedication of everyone at Liontrust, the excellence of our investment teams, the power of the brand and the strength of our sales and marketing capability.
The loyalty of clients has been engendered by our long-term fund performance, the clear articulation of robust investment processes and first-class service. The crisis has reiterated the importance of these at a time when clients have been seeking reassurance and confidence from those in whom they entrust their savings.
We will be expanding the investment solutions we can offer financial advisers and their clients and enhancing our service through the acquisition of the Architas UK Investment Business that we announced last week.
Their multi-asset multi-manager funds will build on our existing Multi-Asset portfolios, Sustainable Managed and equity income funds. This will give us a significant multi-asset multi-management proposition with £6.6 billion1 in AuMA, enabling us to meet the growing demand from financial advisers and expanding our distribution.
I am proud of the way everyone at Liontrust has continued to operate so effectively during the crisis, maintaining strong relationships and communications with clients and attracting record flows. Our assets are the people who work at Liontrust and it is because of them that I have great confidence in our continued growth."
1 Consisting of £934 million AuMA for Liontrust's Multi-Asset investment team as at 30 June 2020 and £5.6 billion of the Architas UK Investment Business AuMA as 19 June 2020.
Assets under management and advice
On 30 June 2020, our AuMA stood at £19,328 million and were broken down by type and process as follows:
Process | Total | Institutional | UK Retail | Multi-Asset | Offshore Funds |
| (£m) | (£m) | (£m) | (£m) | (£m) |
Economic Advantage | 7,449 | 207 | 7,055 | - | 187 |
Sustainable Investment | 6,568 | 43 | 6,047 | - | 478 |
Global Equity | 2,422 | 195 | 2,227 | - | - |
Multi-Asset | 934 | - | - | 934 | - |
Cashflow | 924 | 631 | 240 | - | 53 |
Global Fixed Income | 724 | - | 339 | - | 385 |
European Income | 116 | - | 116 | - | - |
Macro Thematic | 99 | - | 85 | - | 14 |
Asia Income | 92 | - | 92 | - | - |
Total | 19,328 | 1,076 | 16,201 | 934 | 1,117 |
Flows
The net inflows over the three months to 30 June 2020 are £971 million (2019: £725 million). A reconciliation of fund flows and AuMA over the three months to 30 June 2020 is as follows:
| Total | Institutional | UK Retail | Multi-Asset | Offshore Funds |
| (£m) | (£m) | (£m) | (£m) | (£m) |
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Opening AuMA - 1 April 2020 | 16,078 | 988 | 13,275 | 840 | 975 |
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Net flows | 971 | (1) | 959 | 6 | 7 |
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Market and Investment performance | 2,279 | 89 | 1,967 | 88 | 135 |
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Closing AuMA - 30 June 2020 | 19,328 | 1,076 | 16,201 | 934 | 1,117 |
UK Retail Fund Performance (Quartile ranking)
| Quartile ranking - Since Launch/Manager Appointed | Quartile ranking - 5 year | Quartile ranking - 3 year | Quartile ranking - 1 year | Launch Date/Manager Appointed |
Economic Advantage funds |
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Liontrust UK Growth Fund | 1 | 1 | 1 | 2 | 25/03/2009 |
Liontrust Special Situations Fund | 1 | 1 | 1 | 2 | 10/11/2005 |
Liontrust UK Smaller Companies Fund | 1 | 1 | 1 | 1 | 08/01/1998 |
Liontrust UK Micro Cap Fund | 1 | - | 1 | 1 | 09/03/2016 |
Sustainable Future funds |
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Liontrust Monthly Income Bond Fund | 3 | 3 | 4 | 4 | 12/07/2010 |
Liontrust SF Managed Growth Fund | 2 | 1 | 1 | 1 | 19/02/2001 |
Liontrust SF Corporate Bond Fund | 2 | 2 | 3 | 3 | 20/08/2012 |
Liontrust SF Cautious Managed Fund | 1 | 1 | 1 | 1 | 23/07/2014 |
Liontrust SF Defensive Managed Fund | 1 | 1 | 1 | 1 | 23/07/2014 |
Liontrust SF European Growth Fund | 1 | 1 | 1 | 1 | 19/02/2001 |
Liontrust SF Global Growth Fund | 3 | 1 | 1 | 1 | 19/02/2001 |
Liontrust SF Managed Fund | 2 | 1 | 1 | 1 | 19/02/2001 |
Liontrust UK Ethical Fund | 2 | 1 | 1 | 1 | 01/12/2000 |
Liontrust SF UK Growth Fund | 2 | 1 | 1 | 1 | 19/02/2001 |
Global Equity funds2 |
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Liontrust Balanced Fund | 1 | 1 | 1 | 1 | 31/12/1998 |
Liontrust China Fund | 3 | 3 | 3 | 3 | 31/12/2004 |
Liontrust Emerging Market Fund | 2 | 1 | 2 | 3 | 30/09/2008 |
Liontrust European Opportunities Fund | 2 | 4 | 4 | 4 | 29/11/2002 |
Liontrust Global Smaller Companies Fund | 1 | 2 | 1 | 1 | 01/07/2016 |
Liontrust Global Alpha Fund | 1 | 1 | 1 | 1 | 31/12/2001 |
Liontrust Global Dividend Fund | 2 | 2 | 1 | 1 | 20/12/2012 |
Liontrust Global Equity Fund | 1 | 2 | 1 | 1 | 31/12/2001 |
Liontrust Global Technology Fund | 2 | - | 1 | 3 | 15/12/2015 |
Liontrust Income Fund | 1 | 1 | 1 | 2 | 31/12/2002 |
Liontrust Japan Equity Fund | 3 | 3 | 3 | 2 | 22/06/2015 |
Liontrust Japan Opportunities Fund | 1 | 4 | 4 | 4 | 30/09/2002 |
Liontrust UK Mid Cap Fund | 1 | 4 | 4 | 4 | 15/12/2008 |
Liontrust UK Opportunities Fund | 2 | 4 | 4 | 4 | 29/12/2006 |
Liontrust US Income Fund | 3 | 3 | 3 | 4 | 30/09/2010 |
Liontrust US Opportunities Fund | 1 | 2 | 1 | 1 | 31/12/2002 |
Macro Thematic, Cashflow, Asia Income and European Income funds |
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Liontrust Macro Equity Income Fund | 1 | 3 | 3 | 3 | 31/10/2003 |
Liontrust Macro UK Growth Fund | 2 | 4 | 4 | 4 | 01/08/2002 |
Liontrust European Growth Fund | 1 | 1 | 3 | 2 | 15/11/2006 |
Liontrust Global Income Fund | 4 | 4 | 4 | 4 | 03/07/2013 |
Liontrust Asia Income Fund | 2 | 3 | 3 | 3 | 05/03/2012 |
Liontrust European Income Fund | 4 | 4 | 4 | 3 | 15/12/2005 |
Liontrust European Enhanced Income Fund (Hedged) | 4 | 4 | 4 | 3 | 30/04/2010 |
Source: Financial Express to 30 June 2020 as at 3 July 2020, bid-bid, total return, net of fees, based on primary share classes. Past performance is not a guide to future performance, investments can result in total loss of capital. The above funds are all UK authorised unit trusts or UK authorised ICVCs (primary share class).
2 Liontrust Latin America Fund, Liontrust Russia Fund and Liontrust India Fund are not included as they are in IA sectors that are not rankable (e.g. Specialist and Unclassified) as it would not be a fair comparison to make.
For further information please contact:
Liontrust Asset Management Plc 020 7412 1700
John Ions www.liontrust.co.uk
Vinay Abrol
Simon Hildrey - Chief Marketing Officer
David Boyle - Head of Corporate Development
N+1 Singer Advisory LLP 020 7496 3000
Corporate Broking- Tom Salvesen
Numis Securities Limited 020 7260 1000
Corporate Broking & Advisory - Charles Farquhar
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of Liontrust. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that have not yet occurred. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. As a result, the Liontrust's actual future financial condition, results of operations and business and plans may differ materially from the plans, goals and expectations expressed or implied by these forward-looking statements. Liontrust undertakes no obligation publicly to update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules of the Financial Conduct Authority). Nothing in this announcement should be construed as a profit forecast or be relied upon as a guide to future performance.
Other information
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ENDS