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John Ions, Chief Executive of Liontrust

Liontrust makes ‘good progress’

Liontrust Asset Management saw net positive inflows of GBP72 million in the current quarter, according to the company’s latest trading update.

The company has also reported net positive inflows of GBP146 million in the financial year to 27 March 2012, while assets under management increased to GBP1,547 million as at 27 March 2012 from GBP1,343 million on 31 March 2011.

Liontrust earned performance fees of GBP1.4 million earned in the financial year to 27 March 2012, while five out of six of the company’s actively managed UK retail unit trusts are in the first quartile of their respective IMA sectors over one year

John Ions, Chief Executive of Liontrust, says: “We have made good progress during the financial year. The Group generated positive fund flows in every quarter, which has led to a second successive financial year of net positive flows and Liontrust’s assets under management rising from GBP1.34 billion on 31 March 2011 to GBP1.55 billion on 27 March 2012.

“Given the excellent fund performance across our UK and European products and the momentum we have generated on the distribution side of the business, we are focusing on the opportunities to drive strong sales in all our core products. This is evidenced by our increasing market share with fund distributors.

“In October 2011, we completed the purchase of Occam Asset Management and I am delighted with the speed of integration and the calibre of people that have joined us. The recent launch of the Liontrust Asia Income Fund has been well received and I am confident we will grow assets strongly in the fund going forward. A high quality emerging markets team also joined us from Occam, which is another asset class for which there will be strong demand in the future.

“We have announced two other transactions this year. The sale of our Credit business to Avoca Capital Holdings for 3.75% of assets under management and we ended the year by announcing the proposed acquisition of Walker Crips Asset Managers Limited.

“They will add a further complementary investment team to Liontrust. Stephen Bailey and Jan Luthman are highly rated managers with an excellent track record and a strong pedigree in the key UK Equity Income sector. The feedback from the client base following the announcement has been extremely encouraging. We are confident they will benefit from stronger distribution at Liontrust with access to platforms, and other fund distributors they
are not currently available on thereby making their funds accessible to a wider audience. On completion of the proposed acquisition, which we expect to be in April, Liontrust’s assets under management will be more than GBP2.1 billion and gives us one of the strongest ranges of UK equity funds and teams.

“Going forward, the environment remains challenging but there are opportunities for groups with strong investment processes and performance. We are not only well placed for the changes to the distribution market following the implementation of RDR (Retail Distribution Review) at the start of 2013 but see it as an opportunity for Liontrust.

“The focus remains on capitalising on these opportunities to maximise the potential of through our strong fund performance, broadened product range and enhanced distribution capability.”

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