Business and Financial Review • Jul 4, 2013
Business and Financial Review
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RNS Number : 5468I
Liontrust Asset Management PLC
04 July 2013
Embargoed until 7am on 04 July 2013
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Interim Management Statement
Liontrust Asset Management Plc ("Liontrust" or the "Group"), the specialist independent fund management group, is today issuing its Interim Management Statement for the period from 1 April to 30 June 2013 (the "Interim Period").
Highlights
· Net inflows of £302 million in the Interim Period, over three times the equivalent period last year
· Assets under Management ("AuM") as at close of business on 28 June 2013 were £3.3 billion
· 8 out of 9 of our actively managed UK retail funds have out-performed the average fund in their respective sectors since launch or fund manager inception
· Liontrust has won another four awards in the Interim Period, including Liontrust Asia Income Fund being named Best Newcomer at the What Investment Awards
Commenting, John Ions, Chief Executive, said:
"The net inflows of £302 million are testament to the strong performance of the Group's range of funds over the long term and our distinct investment processes. It is particularly pleasing to have maintained positive net sales given the recent volatility in equity and fixed income markets. And to have achieved 12 successive quarters of net inflows affirms our view that the most profitable way to increase AuM is through organic growth.
"We are confident our equity income funds will be a key provider of this growth in the future. From 3 July, we lifted the geographical restrictions on the Liontrust Income Fund to enable the fund managers to invest in companies on a global basis. This complements our Liontrust Macro Equity Income and Liontrust Asia Income funds and provides investors with even greater diversification.
"With an ageing population in the UK and elsewhere in the developed world, the demand for long-term income will only continue to increase. We are well positioned to meet this demand and will be marketing our three equity income teams to intermediaries around the UK in September."
Assets under Management
On 30 June 2013, our AuM stood at £3,265 million (31 March 2013: £3,039 million), an increase of 7.4% since 31 March 2013, and were broken down by type and process as follows:-
| Process | Total (£m) |
Institutional (£m) |
UK Retail (£m) |
Offshore Funds (£m) |
| Cashflow Solution | 781 | 397 | 379 | 5 |
| Economic Advantage | 1,496 | - | 1,489 | 7 |
| Macro Thematic | 498 | 83 | 415 | - |
| Global Credit | 421 | - | - | 421 |
| Asia | 16 | - | 16 | - |
| Indexed | 53 | - | 53 | - |
| Total | 3,265 | 480 | 2,352 | 433 |
Funds Flows
Liontrust recorded net inflows of £302 million in the Interim Period (2012: £93 million), the 12th successive quarter in which the Group has had net inflows.
A reconciliation of flows and AuM over the Interim Period is as follows:-
| Total | Institutional | UK Retail | Offshore Funds | |
| £m | £m | £m | £m | |
| Opening AuM - 1 April 2013 | 3,039 | 501 | 2,263 | 275 |
| Net flows | 302 | (11) | 134 | 179 |
| Market and investment performance | (76) | (10) | (45) | (21) |
| Closing AuM - 30 June 2013 | 3,265 | 480 | 2,352 | 433 |
Fund Performance (Quartile ranking)
All bar one of our nine actively managed unit trust funds have out-performed the average fund in their respective sectors since launch or fund manager inception. Seven of the funds are in the first quartile of their respective sectors over this period.
| Quartile ranking - 1 year | Quartile ranking - 3 year | Quartile ranking - 5 year | Quartile ranking - Since Manager tenure | Launch / Manager appointed | |
| Liontrust Income Fund | 2 | 3 | - | 2 | 25/03/2009 |
| Liontrust UK Growth Fund | 3 | 1 | - | 1 | 25/03/2009 |
| Liontrust Special Situations Fund | 2 | 1 | 1 | 1 | 11/11/2005 |
| Liontrust UK Smaller Companies Fund | 3 | 1 | 1 | 1 | 08/01/1998 |
| Liontrust European Absolute Return Fund | 4 | 3 | - | 4 | 09/07/2009 |
| Liontrust European Growth Fund | 4 | 2 | 1 | 1 | 15/11/2006 |
| Liontrust Asia Income Fund | 1 | - | - | 1 | 05/03/2012 |
| Liontrust Macro Equity Income Fund | 3 | 3 | 2 | 1 | 31/10/2003 |
| Liontrust Macro UK Growth Fund | 4 | 4 | 2 | 1 | 01/08/2002 |
Source: Financial Express, total return, bid to bid, to 30 June 2013 unless otherwise stated. The above funds are all UK authorised unit trusts (retail 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.
Awards
Liontrust has won four further awards in the Interim Period:
· Liontrust Asia Income Fund was named Best Newcomer at the What Investment Awards in May 2013;
· Liontrust UK Smaller Companies Fund won the Best Smaller Fund Award in the UK Smaller/Mid Cap category in the Money Observer Awards in May 2013;
· Liontrust UK Smaller Companies Fund won the UK Small Cap Equity Award at the Morningstar Awards in May 2013; and
· Liontrust Special Situations Fund won the UK Flex Cap Equity Award at the Morningstar Awards in May 2013.
For further information please contact:
Liontrust Asset Management 020 7412 1700
John Ions, Vinay Abrol www.liontrust.co.uk
Simon Hildrey - Head of Marketing & Communications
Numis Securities Limited 020 7260 1000
Charles Farquhar, Andrew Holloway
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of the Group. 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 Group'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 Services 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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