Liontrust Asset Management PLC

Management Reports • Jul 3, 2014

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RNS Number : 2563L

Liontrust Asset Management PLC

03 July 2014

Embargoed until 7am on 3 July 2014

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 2014 (the "Interim Period") as required by the FCA's Disclosure and Transparency Rules.

Highlights

·     Net inflows of £190 million in the Interim Period

·     Assets under Management ("AuM") as at close of business on 30 June 2014 were £3.8 billion

·     Seven out of eight of our actively managed UK retail funds are in the first quartile of their

respective IMA sectors since launch or fund manager inception and all 8 have outperformed

the average fund in their respective sectors over the same period.

Commenting, John Ions, Chief Executive, said:

"We have enjoyed a strong start to the financial year with net positive inflows across all our distribution channels totalling £190 million.

"What is particularly pleasing is the improvement in recent fund performance. The benefit of applying distinct and robust investment processes to the management of our funds is shown by shorter term numbers moving more to their long-term trend. This comes after a difficult year in 2013 when quality companies were not rewarded.

"Our marketing campaign promoting our three equity income funds continues to generate interest among our clients, especially for the Liontrust Macro Equity Income Fund in the highly competitive UK equity income sector.

"Liontrust continues to make good progress. Our strategy, combined with the talent at Liontrust to execute it, puts us in an excellent position to capitalise on the opportunities ahead." 

Assets under Management

On 30 June 2014, our AuM stood at £3,783 million (31 March 2014: £3,613 million) and were broken down by type and process as follows:-

Process	Total	Institutional	UK Retail	DPMS*	Offshore Funds
	(£m)	(£m)	(£m)	(£m)	(£m)
Cashflow Solution	865	558	304	-	3
Economic Advantage	1,858	-	1,844	-	14
Macro Thematic	706	72	624	-	10
Global Credit	46	-	-	-	46
Asia	25	-	25	-	-
Multi-Asset	227	88	-	139	-
Indexed	56	-	56	-	-
Total	3,783	718	2,853	139	73

* Discretionary Portfolio Management Services

Funds Flows

Liontrust recorded net inflows of £190 million in the Interim Period (1 April to 30 June 2013: £302 million of which £179 million related to the Global Strategic Bond fund).

A reconciliation of fund flows and AuM over the Interim Period is as follows:-

	Total	Institutional	UK Retail	DPMS	Offshore Funds
	£m	£m	£m	£m	£m
Opening AuM - 1 April 2014	3,613	657	2,771	114	71
Net flows	190	64	100	23	3
Market and Investment performance	(20)	(3)	(18)	2	(1)
Closing AuM - 30 June 2014	3,783	718	2,853	139	73

Fund Performance (Quartile ranking)

Our funds continue to deliver strong long-term performance. Seven out of eight of our UK unit trusts are in the first quartile of their respective sectors since launch or since the current managers took over the running of the funds and all eight have outperformed the average fund in their respective sector average.   

	Quartile ranking - YTD	Quartile ranking - 1 year	Quartile ranking - 3 year	Quartile ranking - 5 year	Quartile ranking - Since Manager tenure	Launch / Manager appointed
Liontrust Macro Equity Income Fund	2	1	3	1	1	31/10/2003
Liontrust Macro UK Growth Fund	2	1	3	2	1	01/08/2002
Liontrust UK Growth Fund	1	4	2	1	1	25/03/2009
Liontrust Special Situations Fund	2	4	1	1	1	10/11/2005
Liontrust UK Smaller Companies Fund	1	1	1	1	1	08/01/1998
Liontrust Asia Income Fund	4	4	-	-	2	05/03/2012
Liontrust European Growth Fund	1	2	4	2	1	15/11/2006
Liontrust Global Income Fund	4	-	-	-	1	03/07/2013

Source: Financial Express, total return, bid to bid, to 30 June 2014 unless otherwise stated.  The above funds are all UK authorised unit trusts (retail share class). Liontrust FTSE 100 Tracker Fund (index fund) not included. Liontrust Global Income Fund's investment objective change to Global Income on 3 July 2013. 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.

For further information please contact:

Liontrust Asset Management Plc                              020 7412 1700

John Ions                                                                        www.liontrust.co.uk

Vinay Abrol

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

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