Last checked at 12 Jul 2018 07:00
Embargoed until 7am on 12 July 2018
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust" or the "Group"), the specialist independent fund management group, is today issuing its trading update for the period from 1 April to 30 June 2018 (the "Period").
Highlights
· Assets under management ("AuM") were £11.4 billion as at close of business on 30 June 2018 (31 March 2018: £10.5 billion), an increase of £949 million or 9% over the financial year to 30 June 2018
· Net inflows of £320 million in the Period (2017: £22 million)
Commenting, John Ions, Chief Executive, said:
"Liontrust has enjoyed a strong start to the new financial year with net inflows of £320 million over the quarter.
"We have also begun the year with seven shortlisted funds for the Investment Week Fund Manager of the Year Awards on 5 July and a nomination for Global Group of the Year. These nominations, combined with the Monthly Income Bond Fund winning the £ Corporate Bond Fund Award and Special Situations Fund being named best UK Growth Fund, shows the strength of our fund management capability.
"Further demonstration of our sales and marketing strength has come from the successful launches of the Global Fixed Income funds managed by David Roberts, Phil Milburn and Donald Phillips.
"The quality of our fund management teams is a key differentiator for Liontrust and means the Company is well positioned to continue to grow."
Funds under Management
On 30 June 2018, our AuM stood at £11.424 billion and were broken down by type and process as follows:-
Process | Total | Institutional | UK Retail | Multi-Asset | Offshore Funds |
| (£m) | (£m) | (£m) | (£m) | (£m) |
Cashflow Solution | 984 | 541 | 327 | - | 116 |
Economic Advantage | 5,500 | 418 | 4,994 | - | 88 |
Macro Thematic | 367 | 160 | 180 | - | 27 |
European Income | 226 | - | 226 | - | - |
Asia | 119 | - | 109 | - | 10 |
Sustainable Investment | 3,208 | 58 | 3,006 | - | 144 |
Global Fixed Income | 219 | - | 95 | - | 124 |
Multi-Asset | 756 | - | - | 756 | - |
Indexed | 45 | - | 45 | - | - |
Total | 11,424 | 1,177 | 8,982 | 756 | 509 |
Funds Flows
The net inflows over the Period are £320 million (2017: £22 million). A reconciliation of fund flows and AuM over the Period is as follows:-
| Total | Institutional | UK Retail | Multi-Asset | Offshore Funds |
| (£m) | (£m) | (£m) | (£m) | (£m) |
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Opening AuM - 1 April 2018 | 10,475 | 1,144 | 8,201 | 700 | 430 |
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Net flows | 320 | 10 | 215 | 33 | 62 |
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Market and Investment performance | 629 | 23 | 566 | 23 | 17 |
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Closing AuM - 30 June 2018 | 11,424 | 1,177 | 8,982 | 756 | 509 |
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 |
Liontrust UK Growth Fund | 1 | 1 | 1 | 1 | 25/03/2009 |
Liontrust Special Situations Fund | 1 | 1 | 1 | 1 | 10/11/2005 |
Liontrust UK Smaller Companies Fund | 1 | 1 | 1 | 2 | 08/01/1998 |
Liontrust UK Micro Cap Fund | 2 | - | - | 1 | 09/03/2016 |
Liontrust Macro Equity Income Fund | 1 | 4 | 4 | 4 | 31/10/2003 |
Liontrust Macro UK Growth Fund | 2 | 4 | 4 | 4 | 01/08/2002 |
Liontrust European Growth Fund | 1 | 1 | 1 | 2 | 15/11/2006 |
Liontrust Asia Income Fund | 2 | 3 | 3 | 3 | 05/03/2012 |
Liontrust European Income Fund | 4 | 4 | 4 | 4 | 15/12/2005 |
Liontrust European Enhanced Income Fund (Hedged) | 4 | 4 | 4 | 4 | 30/04/2010 |
Liontrust Global Income Fund | 3 | - | 3 | 2 | 03/07/2013 |
Liontrust Monthly Income Bond Fund | 2 | 1 | 1 | 4 | 12/07/2010 |
Liontrust SF Absolute Growth Fund | 3 | 1 | 1 | 1 | 19/02/2001 |
Liontrust SF Corporate Bond Fund | 1 | 1 | 1 | 3 | 20/08/2012 |
Liontrust SF Cautious Managed Fund | 1 | - | 1 | 1 | 23/07/2014 |
Liontrust SF Defensive Managed Fund | 1 | - | 1 | 1 | 23/07/2014 |
Liontrust SF European Growth Fund | 2 | 2 | 2 | 3 | 19/02/2001 |
Liontrust SF Global Growth Fund | 4 | 2 | 2 | 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 |
Source: Financial Express, total return (income reinvested and net of fees), bid to bid, to 30 June 2018 unless otherwise stated, based on primary share classes. The above funds are all UK authorised unit trusts or UK authorised ICVCs (primary share class). Liontrust FTSE 100 Tracker Fund (index fund) not included. Past performance is not a guide to the future; the value of investments and the income from them can fall as well as rise. Investors may not get back the amount originally subscribed. Quartile rankings correct as at 3 July 2018.
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
Numis Securities Limited 020 7260 1000
Corporate Broking & Advisory - Charles Farquhar
Macquarie Capital (Europe) Limited 020 3037 2000
Advisory - Jonny Allison, Kavita ChoitramCorporate Broking - Alex Reynolds, Nicholas Harland
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
The release, publication, transmission or distribution of this announcement in, into or from jurisdictions other than the United Kingdom may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, transmitted or distributed should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.
ENDS