23rd Jan 2007 07:00
23 January 2007 Stock Exchange Announcement LIONTRUST ASSET MANAGEMENT PLC January 2007 Trading Update
Performance fees of ‚£2.586 million were earned on six institutional accounts in the nine month period ended 31 December 2006 generating an operating profit, after compensation, of approximately ‚£1.164 million. By comparison the operating profit contribution from performance fees for the nine months to 31 December 2005 was ‚£30,000. All institutional mandates with performance fee structures are based on either the Large Cap or Growth investment processes.
On 31 December 2006 our funds under management stood at ‚£5.547 billion up 19% on ‚£4.670 billion where they stood on 31 December 2005. On 22 January 2007 funds under management stood at ‚£5.352 billion.
In the period from 1 April 2006 to 22 January 2007 total net unit trust redemptions were ‚£13 million. Gross unit trust sales averaged ‚£27 million per month. A net ‚£62 million of institutional pension fund assets were lost over the same period.
For further information please contact:
Liontrust Asset Management PLC:
Nigel Legge Tel: 020-7412 1700
Vinay Abrol Tel: 020-7412 1700
JP Morgan Cazenove Limited:
Richard Locke Tel: 020-7155 4706
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Liontrust Asset Management