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Liontrust Asset Management Plc

14.00 (1.78%)
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 Shares Traded Last Trade
  14.00 1.78% 801.50 274,221 16:29:59
Bid Price Offer Price High Price Low Price Open Price
799.00 802.00 801.50 785.00 800.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unit Inv Tr, Closed-end Mgmt 245.57 59.20 96.70 8.12 490.00
Last Trade Time Trade Type Trade Size Trade Price Currency
16:52:47 O 3,344 795.515 GBX

Liontrust Asset Management (LIO) Latest News

Liontrust Asset Management (LIO) Discussions and Chat

Liontrust Asset Management Forums and Chat

Date Time Title Posts
23/5/202309:03Liontrust with Charts & News378
14/10/200511:45Will the Lion Roar?-
06/3/200113:18what's happening at lion trust?2

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Liontrust Asset Management (LIO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Liontrust Asset Management (LIO) Top Chat Posts

Top Posts
Posted at 19/5/2023 11:09 by stevenlondon3
If it was such gift I don't think the share price would have reacted so negatively. There is potential but the market has concerns that Liontrust has the skill to turn GAM around. Along hot summer ahead.
Posted at 18/5/2023 09:04 by r2oo
The investor group comprised of NewGAMe and Bruellan - which is opposed to Liontrust's takeover of Swiss fund group GAM - said on Tuesday that it plans to increase its stake in GAM from 8.4% to above 10%.The group said in a statement that it has notified the Swiss Financial Market Supervisory Authority (FINMA) that it intends "to go above the threshold of 10% of the voting rights in GAM".Earlier this month, the investor group said Liontrust's £96m takeover offer undervalues GAM and "does not reflect the significant upside that a successful turnaround could generate for GAM's current shareholders"."In addition, the fact that Liontrust only offers its own shares, and is not making any cash offer, implies that GAM shareholders will be subject to the volatility of Liontrust shares without any firm price for a business that has significant intrinsic value," it said.The investor group also said the deal proposed by Liontrust was subject to "significant execution contingencies", since the risk of an unsuccessful exit of GAM's fund management services business in Luxembourg and Switzerland - "on which almost no information is being provided" - is being shifted to GAM shareholders."The investor group is therefore contemplating not to accept Liontrust's offer under the current terms," it said.
Posted at 04/5/2023 14:29 by topvest
A very interesting and transformational deal either to the upside (if it works) or to the downside (if its doesn't). The deal price is only 0.5% of AUM which is very cheap. This reflects the fact that GAM are in deep financial distress. If the best GAM fund managers stay and they can reduce costs then it will be a truly fantastic deal. The market probably doesn't like the uncertainty associated with the considerable execution risks. I may top-up my Liontrust holding, but will ponder the deal further.
Posted at 04/5/2023 07:57 by dealy
it's an absolute steal. GAM capitulated here. Because it's an all share deal the board of GAM probably think Liontrust shares will benefit hugely from this combination
Posted at 21/4/2023 07:07 by masurenguy
Peel Hunt: Liontrust shares to stall after GAM bid

Peel Hunt expects the investment case for Liontrust Asset Management (LIO) to pause until there is clarity on its potential offer for GAM Holding. Analyst Robert Sage retained his ‘hold’ recommendation and reduced the target price from £10.22 to 915p on the stock, which fell 3.4%, or 29.5p, to 841p yesterday. The asset manager reported a 3.6% fall in assets under management in the first three months of the year to £31.4bn, which was expected. Sage said performance fees ‘surprised positively’ at more than £17m for full-year 2023 and ‘we now expect structurally higher levels in future years.’ ‘Until there is greater clarity around the possible offer for GAM, we expect the investment case for Liontrust to stall,’ he said. ‘There is significant upside potential for the shares when positive flows resume given the organic growth opportunities.’

Posted at 19/4/2023 12:08 by trident5
I couldn't see any comments on Q1 outflows, underlying was never going to be great and the price was seemingly already pricing this - then we get an "ahead of expectations" - and it's off 8%.
Posted at 24/3/2023 20:20 by spectoacc
"The dispute is thought to centre on governance, not pay".

That's the only interesting part I think.

Wary of copy/paste but here's most of it:

"A bust-up in the boardroom at Liontrust, the FTSE 250 fund management group, has led to the abrupt departures of two non-executive directors.

Emma Howard Boyd and Quintin Price both quit “with immediate effect”, the company said, with no explanation.

Their resignations follow the departure of another non-executive, Sophia Tickell, in September 2021, and a major shareholder revolt last September over executive pay at the company.

Howard Boyd, a former stewardship chief at Jupiter Asset Management, only joined the board in January last year. She had special board responsibility for sustainability at the group, which has marketed its funds heavily on their environmental credentials. She was also on the board remuneration committee.

Price, a fund management veteran, who also serves on the board of Foreign & Colonial Investment Trust, had been on the Liontrust board less than two years. He also sat on the remuneration committee, as well as the audit and nomination committees."

"Liontrust said it was “in the process of searching for new non-executive directors and will be providing a further update in due course”.

The dispute is thought to centre on governance, not pay."

"Last September 46 per cent of shareholders who voted were against the company’s remuneration policy in spite of modifications made to it in response to earlier criticisms. John Ions, chief executive, was paid £6.01 million last year and was given a 58 per cent increase in his base pay from £348,000 to £550,000, which angered some shareholders.

The company said at the time it would “engage with shareholders again to understand their continued disagreement with Liontrust’s approach”."

Posted at 24/3/2023 07:56 by boozey
A NED puts their personal integrity and values on the line when they join a Board. A NED will typically serve 7 years. These two had served around two years. Their sudden departure without an explanation is unusual and concerning to say the least. There is a coded message there.

Shelley, Donald and Yeandle remain - all less credible than Price and Boyd given their backgrounds. There are two types of NED, nodding dogs wanting to protect their fees and those who want to challenge the Board in a positive way. Today's developments would suggest Price and Boyd were the latter. It remains to be seen what the characters of the other three NEDs are.

Clearly something isn't right. The biggest worry is whether Boyd and Price may have found governance concerns within Liontrust that they didn't want to be associated with.

We should be on the look out for possible more Boardroom upheaval or governance issues.

John Ions the CEO has some fallout to manage. A sudden NED departure puts a black mark against his name and he will know it. Not good whatever way you want to look at it.

Posted at 12/3/2023 08:20 by masurenguy
Tipped in the Mail on Sunday today. No position but onto my watchlist.

£1.2bn fund shows why it's still king of the small-cap jungle

The managers do not invest in unquoted stocks, only pick profitable businesses that have their head offices based in the UK – and like the executives of their chosen holdings to have 'skin in the game' (own shares in the businesses they run). The fund is overseen by a six-strong investment team who between them run a number of Liontrust vehicles with exposure to the UK stock market. The team's Anthony Cross believes the fund's framework ensures it has the best chance of obtaining the returns that investors expect.

He says: "Investing in unquoted businesses is a different skill-set to what we do as holders of companies listed on the UK stock market. Unquoteds need more hand-holding which often means sitting on their boards. We prefer to invest in profitable small companies that are not only listed on the UK stock market, but are headquartered here. That gives us the assurance that they are subject to all the laws governing UK companies."

The final part of the process – 'skin in the game' – is ensuring the senior management have the same financial interests as Liontrust: namely to drive up the share price. Of Liontrust UK Smaller Companies' 67 holdings, the average management skin in the game is 20%.

The fund managers select companies that have 'economic advantage'. This means businesses that through a mix of intellectual property, strong distribution and recurring revenues are able to maintain a competitive edge over rivals – driving profits ever higher. The fund is not suitable for income seekers and its ongoing annual charges total 1.32%. Over the past 5 years, its sister fund, Liontrust UK Micro Cap, has delivered superior returns of 63%. Its emphasis on smaller businesses than UK Smaller Companies means it is a riskier investment proposition.

Posted at 19/10/2022 13:22 by kalai1
LionTrust Asset Management issued its trading update for the six months ended 30 September 2022 this morning. Net outflows were £1.6 billion in the three months ended 30 September 2022 and £2.2 billion for the six months ended 30 September 2022. Assets under management and advice were £31.7 billion as at 30 September 2022, a decrease of 5.5% over the financial year and down a little further to £31.2 billion at 14 October 2022. The bear market is hitting the investment sector generally, revenues and profits will come under pressure accordingly. The share price is already down around 2/3 from last year’s peak, valuation is very attractive accordingly with forward PE ratio at 8x in the top quartile for the IB&IS sector. LIO is certainly a smaller asset manager worth owning, the weak macro outlook and potential for further market correction are the main clouds for the near term investment outlook. LIO will be worth owning at some point over the next year, but for now is still a share to monitor...

...from WealthOracle


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