TIDMLIO
RNS Number : 4570L
Liontrust Asset Management PLC
13 January 2021
LEI: 549300XVXU6S7PLCL855
For immediate release
13 January 2021
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 its
trading update for the period 1 October to 31 December 2020.
Highlights
-- Net inflows of GBP792 million in the three months ended 31
December 2020 and GBP2,540 million for the nine months ended 31
December 2020.
-- Assets under management and advice ("AuMA") were GBP29.4
billion as at close of business on 31 December 2020, an increase of
43% over the quarter and 83% since the start of the current
financial year.
-- The acquisition of Architas Multi-Manager Limited and
Architas Advisory Services Limited (together "Architas UK
Investment Business"), announced on 1 July 2020 completed on 30
October 2020, adding GBP5.6 billion to AuMA.
-- On 2 October 2020, Liontrust announced the sale of the Asia
Income investment team and the closure of the European Income and
Macro Thematic investment teams.
-- AuMA as at close of business on 11 January 2021 were GBP30.1 billion.
Commenting, John Ions, Chief Executive, said:
"I am incredibly proud of how the whole Company continues to
operate successfully, achieving our strategic objectives through
the global pandemic.
It is at times like this that adherence to core beliefs and
investment processes are vital. Liontrust and our funds have shown
great resilience over the past 10 months. The strength of
Liontrust's investment teams, brand and distribution is shown by
the fact we generated net inflows of GBP792 million over the last
three months of 2020 and GBP2.5 billion since 1 April. Our AuMA has
increased to GBP30.1 billion from GBP16.1 billion on 1 April
2020.
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.
With the addition of the Liontrust Multi-Asset funds, we now
have a compelling proposition to help advisers meet their client
objectives. Liontrust's success has been built on putting our
clients at the core of everything we do. Combining this investment
proposition with our sales and marketing skills enables Liontrust
to enhance the service provided to advisers and expand our
distribution in this key part of the market.
An increasing number of investors want their investments to make
positive contributions to society, the environment and the economy.
The world we live in today needs to and can improve by investors
demanding more from the companies they invest in.
Our Sustainable Investment team will have been successfully
engaging with the companies they invest in for 20 years in February
2021. Over the past two decades, the team have demonstrated the
ability of their investment process to outperform mainstream funds
and the impact of their funds on sustainable development.
Asset managers have an important role to play in the economy
supporting businesses through the pandemic and the economic
recovery to follow. Working with innovative companies to allocate
capital towards a positive outcome will continue to deliver
products and services that benefit the economy and society.
I am confident that Liontrust will maintain its growth because
of the Company's continued focus, our six excellent investment
teams, diversification across funds and distribution markets,
strong brand and first-class service."
Assets under management and advice
On 31 December 2020, our AuMA stood at GBP29,428 million and
were broken down by type and process as follows:
Process Total Institutional UK Retail Multi-Asset Offshore
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Sustainable Investment 9,278 130 8,425 - 723
Economic Advantage 8,338 278 7,750 - 310
Multi-Asset 7,101 - - 7,101 -
Global Equity 2,686 195 2,491 - -
Cashflow Solution 1,201 806 340 - 55
Global Fixed Income 824 - 340 - 484
Total 29,428 1,409 19,346 7,101 1,572
Note: AuMA for the Liontrust Asia Income Fund is excluded as the
fund is in the process of being transferred to Somerset Capital
Management LLP. AuMA for the European Income team is included in
Cashflow Solution investment team AuMA and Macro Thematic team AuMA
is included in Global Equity investment team and Economic Advantage
investment team AuMA.
AuMA as at close of business on 11 January 2021 were GBP30,101
million.
Flows
The net inflows over the three months to 31 December 2020 are
GBP792 million (2019: GBP836 million). A reconciliation of fund
flows and AuMA over the three months to 31 December 2020 is as
follows:
Total Institutional UK Retail Multi-Asset Offshore
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA - 1 October
2020(1) 20,598 1,170 17,288 963 1,177
Net flows 792 93 382 41 276
Market and Investment
performance 2,421 146 1,676 480 119
Acquisition of AuMA(2) 5,617 - - 5,617 -
Closing AuMA - 31
December 2020 29,428 1,409 19,346 7,101 1,572
The net inflows over the nine months to 31 December 2020 are
GBP2,540 million (2019: GBP2,203 million). A reconciliation of fund
flows and AuMA over the nine months to 31 December 2020 is as
follows:
Total Institutional UK Retail Multi-Asset Offshore
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA - 1 April
2020 16,078 988 13,275 840 975
Net flows 2,540 143 1,989 69 339
Market and Investment
performance 5,290 278 4,164 575 273
Acquisition/(Disposal)
of AuMA(1, 2) 5,520 - (82) 5,617 (15)
Closing AuMA - 31
December 2020 29,428 1,409 19,346 7,101 1,572
(1) The sale of the Asia Income investment team was announced on
2 October 2020 reducing AuMA by GBP97 million and is included in
"Opening AuMA - 1 October 2020" for the net flows for the 3 months
ended 31 December 2020 and is included in "Acquisition/(Disposal)
of AuMA" for the net flows for the 9 months ended 31 December
2020.
(2) AuMA and is included in "Acquisition/(Disposal) of AuMA" for
the net flows for the 3 months and the 9 months ended 31 December
2020.
UK Retail Fund Performance (Quartile ranking)
Quartile Quartile Quartile Quartile Launch
ranking - ranking ranking ranking Date/ Manager
Since Launch/Manager - 5 year - 3 year - 1 year Appointed
Appointed
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Economic Advantage
funds
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Growth
Fund 1 1 2 3 25/03/2009
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Special
Situations Fund 1 1 1 1 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
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Monthly
Income Bond Fund 2 3 4 4 12/07/2010
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust SF Managed
Growth Fund 1 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 1 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 funds(3)
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Balanced
Fund 1 1 1 1 31/12/1998
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust China Fund 4 3 4 3 31/12/2004
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Emerging
Market Fund 3 2 2 2 30/09/2008
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust European
Opportunities Fund 2 4 4 4 29/11/2002
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Smaller Companies
Fund 1 1 1 1 01/07/2016
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Alpha Fund 1 1 1 1 31/12/2001
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Dividend Fund 1 1 1 1 20/12/2012
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Equity Fund 1 1 1 1 31/12/2001
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Technology Fund 2 2 1 3 15/12/2015
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Income
Fund 1 1 1 1 31/12/2002
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Japan Equity
Fund 2 2 3 2 22/06/2015
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Japan Opportunities
Fund 1 4 4 4 30/09/2002
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust US Income
Fund 4 3 4 4 30/09/2010
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust US Opportunities
Fund 1 1 1 1 31/12/2002
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Cashflow Solution funds
------------------------------------------------------------------------------- ---------- ---------------
Liontrust European
Growth Fund 1 1 1 1 15/11/2006
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Global
Income Fund 3 3 3 3 03/07/2013
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Global Fixed Income
funds
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Strategic
Bond Fund 2 - - 3 08/05/2018
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Source: Financial Express to 31 December 2020 as at 7 January
2021, bid-bid, total return, net of fees , based on primary share
classes. The Liontrust Asia Income Fund and funds previously
managed by the European Income and Macro Thematic investment teams
are excluded. 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).
(3) 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 (Tel: 020 7412 1700, Website:
liontrust.co.uk)
John Ions: Chief Executive
Vinay Abrol: Chief Financial Officer & Chief Operating
Officer
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
N+1 Singer Advisory LLP (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Panmure Gordon (Tel: 020 7886 2500)
Corporate Advisory: Stephen Howard
Corporate Broking: Charles Leigh-Pemberton
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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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
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