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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Liontrust Asset Management Plc | LSE:LIO | London | Ordinary Share | GB0007388407 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -4.00 | -0.58% | 680.00 | 674.00 | 677.00 | 698.00 | 674.00 | 682.00 | 200,848 | 16:35:11 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Unit Inv Tr, Closed-end Mgmt | 243.34M | 39.33M | 0.6160 | 10.99 | 432.24M |
From Apr 2019 to Apr 2024
TIDMLIO
RNS Number : 2834B
Liontrust Asset Management PLC
07 October 2020
LEI: 549300XVXU6S7PLCL855
For immediate release
7 October 2020
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Half Year End Trading Update and appointment of joint Corporate Broker
Liontrust Asset Management Plc ("Liontrust", or the "Company"), the specialist independent fund management group, today issues its half year trading update for the six months ended 30 September 2020.
Liontrust also announces the appointment of Panmure Gordon (UK) Limited as joint corporate broker.
Highlights
-- Net inflows of GBP777 million in the three months ended 30 September 2020 and GBP1,748 million for the six months ended 30 September 2020.
-- Assets under management and advice ("AuMA") were GBP20.6 billion as at close of business on 30 September 2020, an increase of 28% since the start of the current financial year.
-- The proposed acquisition of Architas Multi-Manager Limited ("AMML") and Architas Advisory Services Limited ("AASL", together "Architas UK Investment Business"), announced on 1 July 2020, will add GBP5.8 billion of AuMA (as at 31 August 2020) when the proposed acquisition completes. The approval for change in control of AMML and AASL granted by the Financial Conduct Authority and the shareholder vote passed on 30 September 2020 completed the requirements agreed in the sale and purchase agreement for the acquisition, so we expect completion to occur on the 30 October 2020.
-- On 2 October 2020, Liontrust announced the sale of the Asia Income investment team and the closure of the European Income and Macro Thematic investment teams.
Commenting, John Ions, Chief Executive, said:
"Liontrust has delivered strong sales and fund performance over the past three months. This has taken net inflows over the past six months to GBP1.75 billion and our AuMA to GBP20.6 billion, which will rise to over GBP26 billion on completion of the acquisition of the Architas UK Investment Business at the end of October.
The strong momentum of the business over the past few years has continued through the Covid-19 crisis. This is testament to our fund management teams and their robust investment processes, strong relationships with clients, the power of the brand and how successfully everyone at Liontrust has adapted to the current environment. This is demonstrated by the clarity and speed of our communications since March, providing reassurance to and insights for our clients.
Liontrust has benefited from the focus the business has had over the past 10 years, on areas of investment where we have expertise and on what clients want. No industry or company can prosper if they do not put the client at the centre of its proposition.
The impact of this focus on clients has been shown by the growth in assets managed by our Sustainable Investment team since they joined Liontrust in April 2017, rising from GBP2.5 billion to GBP7.5 billion. With an increasing number of people saving for their future, investors are demanding more from their investments in engaging companies and helping to deliver a cleaner, safer and healthier world for the future.
Our strength in this area is demonstrated by the fact that last week we held a virtual Sustainable Investment Conference which was watched live by around 450 wealth managers and advisers.
Liontrust's investment expertise was highlighted again when Anthony Cross and Julian Fosh were named jointly as Best Alpha Managers across all sectors at the FE Fundinfo Awards at the end of July and also won the Best Alpha Manager - UK Equities Award.
We have been reviewing our fund ranges as part of a strategic focus on where best to devote our resources over the next few years. This has led to Liontrust agreeing to the sale of the Asia Income Team and Fund to Somerset Capital Management and deciding to close the European Income and Macro Thematic investment teams.
I am positive about the outlook for both Liontrust and active management in general. Our industry can live up to its key role of deploying capital to enable the economy to grow even in the current challenging environment.
Liontrust can continue growing through the proven capability of our investment teams, strong sales and marketing and excellent communications with clients."
Assets under management and advice
On 30 September 2020, our AuMA stood at GBP20,598 million and were broken down by type and process as follows:
Hot Features
Premium
Process Total Institutional UK Retail Multi-Asset Offshore
Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Economic Advantage 7,856 252 7,408 - 196
Sustainable Investment 7,466 45 6,914 - 507
Global Equity 2,491 195 2,296 - -
Cashflow Solution 1,067 678 338 - 51
Multi-Asset 963 - - 963 -
Global Fixed Income 755 - 332 - 423
Total 20,598 1,170 17,288 963 1,177
Note: Asia Income team AuMA is excluded as the investment team and funds are in the process of being transferred to Somerset Capital Management LLP or being closed. AuMA for the European Income team is included in Cashflow Solution investment team AuMA and Macro Thematic team AuMA is included in Global Equity investment team and Economic Advantage investment team AuMA.
Flows
The net inflows over the three months to 30 September 2020 are GBP777 million (2019: GBP642 million). A reconciliation of fund flows and AuMA over the three months to 30 September 2020 is as follows:
Offshore
Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA - 1 July
2020 19,328 1,076 16,201 934 1,117
Net flows 777 51 648 22 56
Market and Investment
performance 590 43 521 7 19
Acquisition/(Disposal)
of AuMA(1) (97) - (82) - (15)
Closing AuMA - 30
September 2020 20,598 1,170 17,288 963 1,177
The net inflows over the six months to 30 September 2020 are GBP1,748 million (2019: GBP1,367 million). A reconciliation of fund flows and AuMA over the six months to 30 September 2020 is as follows:
Offshore
Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuMA - 1 April
2020 16,078 988 13,275 840 975
Net flows 1,748 50 1,607 28 63
Market and Investment
performance 2,869 132 2,488 95 154
Acquisition/(Disposal)
of AuMA(1) (97) - (82) - (15)
Closing AuMA - 30
September 2020 20,598 1,170 17,288 963 1,177
(1) The sale of the Asia Income investment team was announced on 2 October 2020 and is expected to complete in the first quarter of 2021.
UK Retail Fund Performance (Quartile ranking)
Quartile Quartile Quartile Quartile Launch
ranking - ranking ranking ranking Date/ Manager
Since Launch/Manager - 5 year - 3 year - 1 year Appointed
Appointed
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Economic Advantage
funds
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Growth
Fund 1 1 1 2 25/03/2009
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Special
Situations Fund 1 1 1 1 10/11/2005
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Smaller
Companies Fund 1 1 1 1 08/01/1998
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust UK Micro
Cap Fund 1 - 1 1 09/03/2016
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Sustainable Future
funds
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust Monthly
Income Bond Fund 2 2 4 3 12/07/2010
------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Liontrust SF Managed
Growth Fund 1 1 1 1 19/02/2001
------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF Corporate Bond Fund 1 2 3 2 20/08/2012 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF Cautious Managed Fund 1 1 1 1 23/07/2014 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF Defensive Managed Fund 1 1 1 1 23/07/2014 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF European Growth Fund 1 1 1 1 19/02/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF Global Growth Fund 3 1 1 1 19/02/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF Managed Fund 1 1 1 1 19/02/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust UK Ethical Fund 2 1 1 1 01/12/2000 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust SF UK Growth Fund 2 1 1 1 19/02/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Global Equity funds(2) ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Balanced Fund 1 1 1 1 31/12/1998 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust China Fund 4 3 3 3 31/12/2004 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Emerging Market Fund 3 2 3 3 30/09/2008 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust European Opportunities Fund 2 4 4 4 29/11/2002 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Smaller Companies Fund 1 1 1 1 01/07/2016 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Alpha Fund 1 1 1 1 31/12/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Dividend Fund 1 1 1 1 20/12/2012 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Equity Fund 1 1 1 1 31/12/2001 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Technology Fund 2 - 1 2 15/12/2015 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Income Fund 1 1 1 1 31/12/2002 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Japan Equity Fund 2 2 3 2 22/06/2015 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Japan Opportunities Fund 1 4 4 4 30/09/2002 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust US Income Fund 4 3 3 4 30/09/2010 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust US Opportunities Fund 1 2 1 2 31/12/2002 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Cashflow Solution funds ------------------------------------------------------------------------------- ---------- --------------- Liontrust European Growth Fund 1 2 3 2 15/11/2006 ------------------------------- ---------------------- ---------- ---------- ---------- --------------- Liontrust Global Income Fund 4 4 4 4 03/07/2013 ------------------------------- ---------------------- ---------- ---------- ---------- ---------------
Source: Financial Express to 30 September 2020 as at 5 October 2020, bid-bid, total return, net of fees , based on primary share classes. The Liontrust UK Mid Cap Fund, Liontrust UK Opportunities Fund, Liontrust Asia Income Fund and funds previously managed by the European Income and Macro Thematic investment teams are excluded. Past performance is not a guide to future performance, investments can result in total loss of capital. The above funds are all UK authorised unit trusts or UK authorised ICVCs (primary share class).
(2) Liontrust Latin America Fund, Liontrust Russia Fund and Liontrust India Fund are not included as they are in IA sectors that are not rankable (e.g. Specialist and Unclassified) as it would not be a fair comparison to make.
Appointment of joint Corporate Broker
Liontrust also announces that it has appointed Panmure Gordon (UK) Limited ("PG") as its Joint Corporate Broker, alongside Nplus1 Singer Advisory LLP, and replacing Numis Securities Limited, with immediate effect.
Notice of Half Year Results Announcement
Liontrust confirms that it will be announcing its half year results for the six months ended 30 September 2020 on Wednesday, 25 November 2020.
For further information please contact:
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)
John Ions
Vinay Abrol
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
N+1 Singer Advisory LLP (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Panmure Gordon (Tel: 020 7886 2500)
Corporate Advisory: Stephen Howard
Corporate Broking: Charles Leigh-Pemberton
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of Liontrust. 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 Liontrust'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
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TSTUPGMAUUPUGCQ
(END) Dow Jones Newswires
October 07, 2020 02:00 ET (06:00 GMT)
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