1st Apr 2005 07:23
Liontrust Asset Management PLC01 April 2005 1st April 2005 Stock Exchange Announcement Liontrust Asset Management PLC Fund under Management Liontrust deals with a number of investment consultants in the institutionalmarket place. The investment consultants are responsible for advisinginstitutional clients on a range of matters including manager selection. One ofthese investment consultancy firms has advised Liontrust that a change inemphasis towards absolute return strategies has rendered Liontrust's growthorientated UK equity products unsuitable for their clients' revised investmentaims. As a consequence eight of our mutual clients, who currently have assetsmanaged by Liontrust, will be terminating their investment management agreementswith immediate effect. These eight accounts represent GBP 831 million of assetsand around GBP 2 million of revenues before compensation costs and deduction ofother operating expenses. While disappointing, the adverse impact on currentmarket expectations for next year's revenues and core operating profits islikely to be less than 10%. Note to Editors For further information please contact: Liontrust Asset Management PLC: Nigel Legge 020 7412 1700 J P Morgan Cazenove: Mike Collar 020 7588 2828 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Liontrust Asset Management