18th Jun 2015 07:40
LONDON (Alliance News) - Liontrust Asset Management PLC, a London-listed fund manager, Thursday raised its dividend after pretax profit more than doubled in its last financial year.
Liontrust, which was launched 20 years ago, said it made a GBP7.3 million pretax profit in the year ended March 31, compared with GBP3.2 million in the prior year. The fund manager increased its dividend for the year to 8.0 pence from 3.0p.
Assets under management, which increased by 24% to GBP4.5 billion in the company's recently completed financial year, amounted to GBP4.49 billion at the close of business on Wednesday.
"The key to the success of the business has been, and will continue to be, the strength of our fund management teams and long-term performance, the increasing breadth of our distribution capability both in the UK and internationally, the distinctiveness and visibility of the Liontrust brand and the robustness of the business' infrastructure to support and help drive fund management, sales and marketing," Chief Executive John Ions said in a statement.
"Nothing is ever as straightforward as it seems, and there are rarely shortcuts to success. Instead, it is achieved from strong foundations and with a clear vision and strategy going forward. I have great confidence, therefore, that we can take advantage of the many tailwinds behind the fund management industry. These include demographic and regulatory changes that mean we are all going to have to take more responsibility for saving for our retirement. I am also encouraged by our increased distribution in continental Europe which offers significant potential for growing our AuM," Ions said.
Liontrust shares were up 1.1% at 298.12 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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