Liontrust Asset Management PLC

Earnings Release • Jul 22, 2015

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RNS Number : 6798T

Liontrust Asset Management PLC

22 July 2015

Embargoed until 7am on 22 July 2015

Stock Exchange Announcement

LIONTRUST ASSET MANAGEMENT PLC

Trading Update

Liontrust Asset Management Plc ("Liontrust" or the "Group"), the specialist independent fund management group, is today issuing a trading update for the period from 1 April to 30 June 2015 (the "Period").

Highlights

·     Net outflows of £7 million in the Period

·     On 30 June 2015, assets under management ("AuM") were £4.5 billion. AuM as at close of business on 20 July 2015 were £4.6 billion

·     Liontrust GF Global Strategic Equity Fund was launched on 17 July.

Commenting, John Ions, Chief Executive, said:

"We have been through a period of great uncertainty for investors. Top of the list for domestic investors was the UK general election in May, which has given way to greater stability and certainty than most people must have expected before 7 May.

"We have experienced the benefits of this political stability through a return to net positive inflows into our UK-domiciled retail funds since the General Election.

"Internationally, however, the ongoing negotiations between Greece and the rest of the Eurozone and the IMF over a further bailout have dominated the news for the past few weeks, we have seen significant volatility in the Chinese stock market after reaching a seven-year high in mid-June and then there are continued concerns over future liquidity of bond markets.

"While such an environment can be unsettling, we continue to provide certainty for investors in the consistent way in which we manage money through our distinct investment processes and the longevity of our fund management teams. We seek to take advantage of uncertainty where it produces investment opportunities for the benefit of our clients. The success of this approach is shown in the ongoing strong long-term performance of our funds.

"We have also continued to expand our alternatives fund range. On 17 July, we launched the Dublin-domiciled Liontrust GF Global Strategic Equity Fund and have had a positive reaction from clients.

"The enhancement of our investment offering is important in meeting clients' changing asset allocation and diversification requirements, particularly during periods of political, economic and market uncertainty. This is a key strategic objective of the business for the next year." 

Assets under Management

On 30 June 2015, our AuM stood at £4,458 million (31 March 2015: £4,494 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	807	534	254	-	19
Economic Advantage	2,245	94	2,120	-	31
Macro Thematic	1,023	389	621	-	13
Global Credit	30	-	-	-	30
Asia	46	-	44	-	2
Multi-Asset	257	99	-	158	-
Indexed	50	-	50	-	-
Total	4,458	1,116	3,089	158	95

* Discretionary Portfolio Management Services

AuM as at close of business on 20 July 2015 were £4.551 billion

Funds Flows

Liontrust recorded net outflows of £7 million in the Period (1 April to 30 June 2014: inflows of £190 million).

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

	Total	Institutional	UK Retail	DPMS	Offshore Funds
	£m	£m	£m	£m	£m
Opening AuM - 1 April 2015	4,494	1,161	3,092	156	85
Net flows	(7)	(29)	2	7	13
Market and Investment performance	(29)	(16)	(5)	(5)	(3)
Closing AuM - 30 June 2015	4,458	1,116	3,089	158	95

Fund Performance (Quartile ranking)

Our funds continue to deliver strong long-term performance. Six 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 seven out of eight have outperformed the average fund in their respective sector average.   

	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	2	2	1	31/10/2003
Liontrust Macro UK Growth Fund	1	2	3	1	01/08/2002
Liontrust UK Growth Fund	3	3	2	2	25/03/2009
Liontrust Special Situations Fund	2	3	1	1	10/11/2005
Liontrust UK Smaller Companies Fund	4	2	1	1	08/01/1998
Liontrust European Growth Fund	4	4	4	1	15/11/2006
Liontrust Asia Income Fund	2	2	-	1	05/03/2012
Liontrust Global Income Fund	4	-	-	3	03/07/2013

Source: Financial Express, total return, bid to bid, to 30 June 2015 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 & Distribution Strategy

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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