24th Mar 2005 14:55
24th March 2005 Stock Exchange Announcement Liontrust Asset Management PLC Pre-Close Trading Update As at 23 March 2005, total funds under management stood at ‚£5.205 billion. Bycontrast funds under management were ‚£4.95 billion on 26 March 2004 and ‚£2.58billion at the same time in 2003. Core earnings therefore remain strong and arein line with market expectations.Performance has remained mixed with the Large Cap and Growth processesunderperforming their benchmarks over the last year to 28 February 2005. TheValue and Small Cap processes have outperformed their benchmarks over the sameperiod.Any performance fees earned in the period from 1 January 2005 to 31 March 2005will be disclosed in the preliminary announcement of Liontrust's results forthe year ending 31 March 2005 due to be released towards the end of May 2005but currently none are expected.Following an internal review the finance function is being re-organised andVinay Abrol will add the role of Chief Financial Officer to his currentresponsibilities of Chief Operating Officer. Andrew Yates will step down fromthe Board with immediate effect and on 31 May 2005 will be leaving Liontrust.Antony Morrison will be joining the Group as Head of Finance in May 2005 andwill report to Vinay Abrol. In addition he will join the subsidiary boards,Liontrust Investment Funds Limited and Liontrust Investment Services Limited.Andrew Yates has been Finance Director since 1997 during a period whenLiontrust grew assets under management from ‚£0.179 billion to ‚£5.205 billion.Note to EditorsFor further information please contact:Liontrust Asset Management PLC: Nigel Legge 020 7412 1700J P Morgan Cazenove: Edward Squire 020 7155 4633ENDLIONTRUST ASSET MANAGEMENT PLCRelated Shares:
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