Liontrust Asset Management PLC Trading Statement (2319K)

TIDMLIO

RNS Number : 2319K

Liontrust Asset Management PLC

06 July 2017

Embargoed until 7am on 6 July 2017

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 its financial year end trading update for the period from 1 April to 30 June 2017 (the "Period").

Highlights

   --     Assets under Management ("AuM") as at close of business on 30 June 2017 were GBP9.3 billion 

-- UK Retail net inflows of GBP177 million, second highest quarterly UK Retail net inflow for over seven years, and total net inflows of GBP22 million in the Period (1 April to 30 June 2016: UK Retail net inflows: GBP36 million, total net inflows: GBP66 million)

Commenting, John Ions, Chief Executive, said:

"The development of our brand and distribution over the last few years, coupled with strong investment performance, is again demonstrated by net retail flows of GBP177 million over the past three months. Total net flows of GBP22 million have been impacted by a single repatriation of assets from one institutional client.

We welcome the FCA Asset Management Market Study given that the low savings ratio is a problem for the country. As active fund managers, there is a key role for us to play in helping investors meet their financial requirements. The moves to improve transparency, communication and value are steps in the right direction.

There is a significant role for the asset management industry to play in alleviating the savings problem. I believe Liontrust is in a strong position to achieve this with our focus on active fund management, investment processes along with client service and communications."

Assets under Management

On 30 June 2017, our AuM stood at GBP9,253 million (31 March 2017: GBP6,523 million). A reconciliation of AuM as at 30 June 2017 is as follows:-

 
                                                                                    Offshore 
         Process           Total    Institutional(1)   UK Retail   Multi-Asset(1)     Funds 
                           (GBPm)        (GBPm)         (GBPm)         (GBPm)        (GBPm) 
 Cashflow Solution            916                493         315                -        108 
 Economic Advantage         4,182                273       3,841                -         68 
 Macro Thematic               498                129         343                -         26 
 European Income              239                  -         239                -          - 
 Asia                         102                  -          91                -         11 
 Sustainable Investment     2,663                 50       2,434                -        179 
 Multi-Asset                  604                  -           -              604          - 
 Indexed                       49                  -          49                -          - 
 Total                      9,253                945       7,312              604        392 
 

(1) Multi-Asset AuM includes GBP352 million of AuM that was previously reported as Institutional AuM.

Funds Flows

Liontrust recorded net inflows for the Period of GBP22 million (1 April to 30 June 2016: GBP66 million). A reconciliation of fund flows over the Period is as follows:-

 
                                                                                  Offshore 
                          Total   Institutional(1)   UK Retail   Multi-Asset(1)     Funds 
                          GBPm          GBPm           GBPm           GBPm          GBPm 
 
 Opening AuM - 1 
  April 2017              6,523              1,044       4,648              612        219 
 
 Net flows                   22              (149)         177             (21)         15 
 
 Acquisitions             2,518                 49       2,316                -        153 
 Market and Investment 
  performance               190                  1         171               13          5 
 
 Closing AuM - 30 
  June 2017               9,253                945       7,312              604        392 
 

(1) Multi-Asset AuM includes GBP352 million of AuM that was previously reported as Institutional AuM, the opening figures have been adjusted accordingly.

Fund Performance (Quartile ranking)

Our funds continue to deliver strong long-term performance. Fourteen out of our 21 UK-domiciled funds are in the first or second quartile of their respective IA sectors since launch or since the current managers took over the running of the funds.

 
                          Quartile       Quartile    Quartile    Quartile       Launch 
                           ranking        ranking     ranking     ranking     Date/Manager 
                           - Since        - 5 year    - 3 year    - 1 year     Appointed 
                        Launch/Manager 
                          Appointed 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust UK 
  Growth Fund                 1              2           1           3        25/03/2009 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Special 
  Situations Fund             1              1           1           2        10/11/2005 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust UK 
  Smaller Companies 
  Fund                        1              1           1           2        08/01/1998 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust UK 
  Micro Cap Fund              2              -           -           3        09/03/2016 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Macro 
  Equity Income 
  Fund                        1              3           4           3        31/10/2003 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Macro 
  UK Growth Fund              2              4           4           3        01/08/2002 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust European 
  Growth Fund                 1              2           1           2        15/11/2006 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Asia 
  Income Fund                 2              2           2           3        05/03/2012 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust European 
  Income Fund                 3              4           3           4        15/12/2005 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust European 
  Enhanced Income 
  Fund (Hedged)               4              4           4           4        30/04/2010 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Global 
  Income Fund                 4              -           4           3        03/07/2013 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust Monthly 
  Income Bond 
  Fund                        1              1           1           1        12/07/2010 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Absolute Growth 
  Fund                        4              1           1           2        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Corporate Bond 
  Fund                        3              1           1           1        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Cautious Managed 
  Fund                        2              -           -           2        23/07/2014 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Defensive Managed 
  Fund                        1              -           -           1        23/07/2014 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  European Growth 
  Fund                        2              2           1           2        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Global Growth 
  Fund                        4              3           3           3        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  Managed Fund                3              1           1           1        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust UK 
  Ethical Fund                2              1           1           1        10/05/1999 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 Liontrust SF 
  UK Growth Fund              2              1           1           1        19/02/2001 
--------------------  ----------------  ----------  ----------  ----------  -------------- 
 

Source: Financial Express, total return, bid to bid, to 30 June 2017 unless otherwise stated, based on primary share classes. The above funds are all UK authorised unit trusts or UK authorised ICVCs (primary 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. Quartile rankings correct as at 04/07/2017

For further information please contact:

   Liontrust Asset Management Plc                              020 7412 1700 

John Ions www.liontrust.co.uk

Vinay Abrol

Simon Hildrey - Chief Marketing Officer

   Numis Securities Limited                                             020 7260 1000 

Corporate Broking & Advisory - Charles Farquhar, Andrew Holloway

   Macquarie Capital (Europe) Limited                       020 3037 2000 

Advisory - Jonny Allison, Kavita Choitram

Corporate Broking - Alex Reynolds, Nicholas Harland

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 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

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.

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July 06, 2017 02:00 ET (06:00 GMT)