Liontrust Asset Management Plc has today issued its trading update for the period 1 October to 31 December 2021. Highlights include:
- Net inflows of £0.8 billion in the three months ended 31 December 2021 and £2.9 billion for the nine months ended 31 December 2021.
- Assets under management and advice (“AuMA”) were £37.2 billion as at 31 December 2021, an increase of 20% over the financial year.
- Proposed acquisition of Majedie Asset Management Limited (“Majedie”) was announced on 7 December 2021 which will add £5.8 billion of AuMA (as at 30 November 2021) and will complete in April subject to regulatory approval.
- Liontrust announces the appointment of Emma Howard Boyd CBE as new Non-executive Director.
- AuMA as at 14 January 2022 were £36.0 billion.
Commenting, John Ions, Chief Executive, said:
” We have generated another quarter of impressive sales with net flows reaching £832 million, taking the total for the nine months of the financial year to £2.9 billion. This growth is the result of our continued focus on meeting client expectations.
At a time of increased market volatility, strong investment processes are even more critical to long-term performance. The Economic Advantage team have now been applying their investment process for more than 24 years and their four UK equity funds are all in the first quartile since they started managing them. The Liontrust UK Micro Cap Fund, for example, was the second best performing fund in the IA UK Smaller Companies sector in 2021 and is first over three years and third over five years1.
The acquisition of Majedie Asset Management will bring a seventh team, with their Global Fundamental process, to Liontrust upon completion of the transaction, which is expected to be in April (subject to regulatory approval). This will enhance our distribution among institutional investors and consultants, adding a highly regarded investment team with excellent relationships. The acquisition is expected to bring strong synergies and be earnings enhancing for the financial year ending 31 March 2023 and in future years. The positive reaction we have had to the announcement of the agreed deal from clients of both Liontrust and Majedie has been very pleasing.
Liontrust won the ESG Advocate (Asset Management) Award at the Portfolio Adviser Wealth Partnership Awards in December, demonstrating the quality of our existing service and communications.
We are continually focused on how best to communicate with our clients and provide investment insights to as broad an audience as possible. We have had great success with creating new-style videos in recent months and are developing our digital communications to ensure they are as relevant and engaging as possible to each recipient.
I want to welcome Emma Howard Boyd CBE (pictured) who has joined the Board as a new independent Non-executive Director today. Emma brings extensive commercial and financial services experience, as well as a background in governance and stewardship and will provide great insights to the Board.
I am confident about maintaining our growth given the strength of Liontrust’s investment capability, distribution and communications and therefore continuing to deliver for our clients and investors.”