8th Oct 2014 06:41
LONDON (Alliance News) - Liontrust Asset Management PLC Wednesday reported an increase in assets under management over the course of the first half, and also said its macro-thematic team has bean granted a GBP320 million institutional mandate that will be funded in the third quarter and take the assets managed by the group past the GBP4.1 billion mark.
In a statement, the AIM-listed fund management said its assets under management rose to GBP3.81 billion at the close of business on September 30, up from GBP3.61 billion on March 31, helped by GBP284 million of net inflows but hindered by a negative market and investment performance, which was down GBP79 million.
Liontrust recorded GBP94 million of net inflows in the second quarter alone, though market and investment performance was a GBP59 million drag on assets under management.
The award of the GBP320 million UK equity income segregated mandate, which is not included in the September 30 figures for assets under management, means Liontrust's macro-thematic team assets under management will rise above GBP1 billion during the third quarter.
Chief Executive John Ions said the six-month period was successful despite a difficult background of increasing political and economic uncertainty. He said the award of the mandate to the macro-thematic team demonstrates the strength of the group.
"More evidence of our expanding client base came in September when this team was joined by our global income and Asia income fund managers in presenting to more than 300 intermediaries around the UK," Ions said in a statement.
"We have expanded our distribution capability outside the UK through the recruitment of James Beddall to work alongside Jonathan Hughes-Morgan as co-head of international sales and are setting up a branch office in Luxembourg. James, who has 17 years of experience in international sales, has joined Liontrust from F&C Investments where he was head of international wholesale sales," Ions said.
"With the recruitment of James, we have put together a very strong sales team to market our funds internationally. We are also actively looking for more fund management teams that will appeal to the wholesale market in continental Europe," Ions added.
By Samuel Agini; [email protected]; @samuelagini
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