6th Oct 2015 08:11
LONDON (Alliance News) - Fund manager Liontrust Asset Management PLC on Tuesday said its assets under management declined in the first half of its financial year as poor market performance in the half offset net inflows.
Liontrust said its assets under management fell to GBP4.4 billion from GBP4.5 billion in the six months to the end of September. The company delivered net inflows in the half of GBP117 billion, but this was offset by a GBP154 million decline in assets related to poor market performance.
"We have enjoyed a successful second quarter of our financial year against a challenging economic and market background. We are well positioned in the current volatile environment. This is because of the approach we take to managing money along with the diversification of our fund management capability over the past couple of years," said John Ions, the company's chief executive.
"We are confident that our expanded fund management capability, higher profile, focus on robust investment processes and broader client base will enable us to continue to deliver positive net inflows in the second half of our financial year," Ions added.
Shares in Liontrust were down 0.7% to 288.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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