Liontrust Asset Management Share Discussion Threads

[gsbmba99] 24/1/2018 11:23

We've already had a corporate update but the fund factsheets have also been updated to 31 Dec. I make 31 Dec sum of fund factsheets at £8,699.4m as compared to £8,374.4m as at 30 Nov which is +£325.0m or +3.9%. Since 30 Sep, +£410.9m or 5.2%. 27/28 funds gained AuM in December, led by Special Situations at +£145.8m (+4.2%), UK Smaller Companies at +£35.6m (+4.3%) and Sustainable Future Managed at +£31.3m (+4.3%). The sum of fund factsheets doesn't distinguish between market performance and net new money.

[rcturner2] 24/1/2018 08:24

Does anyone have any broker forecasts for the current year?

[petewy] 24/1/2018 08:06

Liontrust Asset Management Plc announces that it has released Alliance Trust PLC ("AT") from lock-up arrangements in respect of 4,060,792 shares in order to allow AT to dispose of all of such shares. That disposal has now completed.
The fifth biggest holding and 8% of shares.

Will this send the price down?

[gsbmba99] 10/1/2018 13:00

Probably worth pointing out that the AuM for Sustainable Future "approaching" £3bn is quite encouraging. It was £2.518bn on acquisition so up more than the rest of the business at around 19%. Impax have seen exceptionally strong growth in a not dissimilar area focusing on institutional shareholders while LIO have a retail focus. Don't appear to be directly competing with IPX.

[gsbmba99] 10/1/2018 07:42

Q3FY18 AuM is £10.556bn. I make that +16.8% since the beginning of the fiscal year pro forma for acquisition of the Sustainable Future funds. Net flows of £571m in the quarter look extremely strong (Q1FY18 £22m, Q2FY18 £156m). The announcement praises the SF funds and their asset gathering capability. The SF fund performance is strong though a cynic would point out that the recent weak short-term performance of most other LIO funds leaves them with little else to talk about. Special mention of Anthony Cross who remains responsible for a disproportionately large part of LIO AuM.

[tightfist] 09/1/2018 14:44

Thanks gsbm, looks like some anticipation in the market today of good numbers tomorrow?

[gsbmba99] 05/1/2018 08:00

Looks like quarterly AuM update scheduled for 10 Jan ( )

[lemonjar] 27/12/2017 04:49

Cool, thanks for the insight gsbmba99, much appreciated!

[gsbmba99] 26/12/2017 06:28

PAM is also retail focused and, for comparison, were up 0.82% in Nov and 4% since 30 Sep. So LIO a shade ahead. I don't think it necessarily represents a slowdown. Probably just reflects the fact Oct was a much better month than Nov in terms of market performance. We'll find out progress to Dec in early Jan and the new fixed income manager and strategist start in Jan so maybe a little bit of a tailwind in AuM from that in Feb/Mar.

[lemonjar] 24/12/2017 11:16

Is your sense that its slowed down a bit? Sp has dipped a little, maybe to be expected after a strong rise earlier in the year, by but maybe also reflecting a slow down in fund growth?

[gsbmba99] 23/12/2017 10:56

I've been tracking the sum of the fund factsheets as a proxy for AuM. As at 30 Sep, the sum of fund factsheets was 82.6% of total AuM. I make 30 Nov sum of fund factsheets at £8,374.4m as compared to £8,273.9m as at 31 Oct which is +£100.5m or +1.2%. Numbers slightly off as GF Macro Equity Income is missing from Oct numbers since I don't think they published an updated factsheet. Real gain in AuM probably about £75m (when factoring in exclusion of GF Macro Equity Income from prior month). Since 30 Sep, +£410.9m or 5.2%. Only 10/28 funds gained AuM in November, led by Special Situations at +£92.3m. Special Situations is about 40% of the sum of fund factsheets. AuM quite skewed toward Anthony Cross and team (who run other funds in addition to Special Situations). The sum of fund factsheets doesn't distinguish between market performance and net new money.

[gsbmba99] 23/11/2017 11:50

Full year revenue of £71.5m looks readily achievable given 1H and trajectory of AuM. Also, new Fixed Income team joining early 18 (guessing mid Feb). Judging by the Kames bond funds that appointed a new manager on 10 Aug (day before LIO annc), Roberts and Milburn were at least a co-manager of Kames Strategic Global Bond ($638 AuM according to Trustnet), Kames Strategic Bond (£320m), Kames High Yield Bond (£908m) and Kames Sterling Corporate Bond (£604m). Let's hope they have a loyal following once they start.

[petewy] 23/11/2017 09:51

Results:
Adjusted profit before tax of £12.0 million (2016: £6.8 million), an increase of 76%
Profit before tax of £3.6 million (2016: £2.2 million), an increase of 61%. This includes costs of £8.4 million (2016: £4.6 million)
evenues of £35 million (2016: £22 million), an increase of 57%.

[petewy] 02/11/2017 17:46

Liontrust had its price target raised by analysts at Numis Securities Ltd from £5.65 to £5.80 with an "add" rating.

[rp] 11/10/2017 09:59

Another impressive set of figures. I've been investing on and off for about 3 years now and this share has never let me down.

[petewy] 07/9/2017 20:20

Liontrust had its price target raised by analysts at
Numis Securities Ltd from £5.20 to £5.60

[tightfist] 21/8/2017 15:56

Thrapston a difficult call when a share is making all-time highs... There is a channel bottom, but no guarantee it's going to go back there.... IMHO I would be a buyer IF it reverses today's rise....

[petewy] 21/8/2017 14:27

Low volume of shares on the market can cause a wide sprea. 19 million shares at least available.
Can anyone see a price when the rise will ease off?

[rp] 17/8/2017 10:11

One consistently annoying aspect of these share is the wide spread. Fortunately whenever I've invested it's been at the start of one its surges and whenever I've sold its been at the start of one of its dawdling along phases so it has been good to me. I wonder if relatively low profile and low volumes cause the spread to be so wide.

[petewy] 17/8/2017 09:49

20p spread quoted but no-one seems to sell this stock 6p yes.

[rp] 09/8/2017 11:23

petewy - many thanks , messaged you back

[petewy] 09/8/2017 10:43

Sent to you by message.

[rp] 08/8/2017 13:04

Petewy - missed that IC review, any chance of you posting the gist of it please?

[petewy] 08/8/2017 10:44

The IC review made me buy in. Paid off already.