21st Nov 2018 12:11
LONDON (Alliance News) - Liontrust Asset Management PLC on Wednesday reported a rise in assets under management due to increasing demand for sustainable investment.
The company's assets under management stood at GBP12.05 billion as at September 30, up 15% from GBP10.48 billion as at April 1. Assets under management totaled GBP11.51 billion as of Monday.
Net inflows in the six months to September-end increased to GBP723 million from GBP178 million the previous year. In the period, Liontrust recorded GBP707 inflows from its UK retail portfolio, but experienced GBP134 million of outflows from its institutional portfolio.
Liontrust said it its benefitting for the "growing demand" for sustainable investment. Assets in its Sustainable Investment fund have increased to GBP3.4 billion from GBP2.5 billion since April 1, 2017.
Chief Executive John Ions said: "This is because an increasing number of institutions and investors realise sustainable is a proven investment style and an ever growing number of people care about how they make their money as well as how much money they make."
Ions added: "Increased volatility, which we have seen in equity and bond markets, is usually a positive for us. Investors become more discerning and look for fund managers who have a robust process, a good track record of being able to handle such an environment and of superior stock selection. With the gradual withdrawal of central bank support, for example, active management and having the ability to be flexible will become increasingly important when investing in bond markets."
Pretax profit for the first half increased to GBP7.8 million from GBP3.1 million the year before, on a revenue of GBP46.3 million and GBP34.5 million, respectively.
The company also announced Adrian Collins will retire as non-executive chairman at its next annual general meeting. Alastair Barbour will succeed Collins after the AGM and will become non-executive deputy chairman immediately.
Barbour is currently a non-executive director at Liontrust and is chairman of the audit committee. He has sat on the board since April 2011.
Liontrust raised its interim dividend to 7.0 pence per share from 5.0p. Shares in the company were up 5.2% Wednesday at 623.00p each.
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Liontrust Asset Management