7th Apr 2014 07:54
LONDON (Alliance News) - Liontrust Asset Management PLC Monday reported GBP16.0 million of net inflows in its fourth quarter, boosted by its UK Retail funds, while the Multi-Asset team has been awarded a new GBP54.0 million mandate.
In a pre-close trading statement, the fund manager said net inflows in the quarter end March 31 include lower fee margin redemptions of GBP196.0 million from a single client in the Liontrust Global Strategic Bond Fund. Net GBP160.0 million flowed into UK Retail funds, with another GBP60.0 million into Institutional funds.
Liontrust Chief Executive John Ions said the UK Retail funds had their best quarter for net inflows for ten years.
Assets under management grew to GBP3.61 billion from GBP2.57 billion at the end of December.
Liontrust said it expects the Multi-Asset team's new mandate to be funded in the first quarter of the current financial year, ending March 31, 2015.
"The further diversification of our business is shown by the fact the assets under management for five of our fund management teams has grown in the latest quarter. Our sixth team - Global Credit - have been impacted by a specific larger client withdrawing assets as a result of conditions in emerging markets," Ions said in a statement.
"At present, 95% of our sales success has come from our domestic market but we see significant opportunities for distribution outside the UK. Therefore, we are enhancing our international offering through the launch of four Dublin-based feeder funds for Liontrust Macro Equity Income, Asia Income, Global Income and UK Growth," he added.
Liontrust shares were Monday quoted at 268.01 pence, down 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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