REG - Liontrust Asset Mgmt - Trading Statement
18/01/2023 07:00
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RNS Number : 0263N Liontrust Asset Management PLC 18 January 2023
LEI: 549300XVXU6S7PLCL855
For immediate release
18 January 2023
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust", or the "Company"), the specialist
independent fund management group, today issues its trading update for the
three months ended 31 December 2022 (the "Period").
Highlights
· Net outflows of £0.6 billion in the three months ended 31 December
2022 and £2.8 billion for the nine months ended 31 December 2022.
· Assets under management and advice ("AuMA") were £32.6 billion as at
31 December 2022, an increase of 3% over the Period.
· AuMA as at 16 January 2023 were £33.8 billion.
Commenting, John Ions, Chief Executive, said:
"We are focused on achieving our strategic objective of broadening
distribution by channel, geography and fund and engaging with and providing a
first-class service for clients. Along with delivering strong long-term
performance by applying robust investment processes, these are key to ensuring
the future growth of the business.
"The last quarter of 2022 continued a year of negative investor sentiment,
weighed down by the ongoing macroeconomic and geopolitical concerns. Liontrust
was not immune to the continued volatility in stock markets, leading to net
outflows of £632 million in the last three months of the year.
"Our brand and the financial, investment and distribution strengths of
Liontrust will enable us to take advantage of the growth potential ahead of
us.
"We are focused on what we can control including extensive and continuous
communication and engagement with our clients, both face-to-face and through
our growing digital activity.
"We are starting a months-long roadshow in early February for our Multi-Asset
team that will be attended by financial advisers across the UK. We have been
opening up new distribution channels internationally, including through our
Cashflow Solution and Global Fundamental teams, that will help us to continue
to diversify our client base. And our growing digital presence is enabling us
to expand our engagement with investors.
"The challenges of the past year have created further opportunities for
financially robust asset managers with strong distribution and brands. The
quality of Liontrust's fund management processes and teams, client service,
sales and marketing gives me great confidence that we can take advantage of
these opportunities."
Assets under management and advice
On 31 December 2022, our AuMA stood at £32,614 million and were broken down
by type and investment process as follows:
Process Total Institutional Accounts & Funds Investment Trusts UK Retail Funds & MPS Alternative Funds International Funds & Accounts
(£m) (£m) (£m) (£m) (£m) (£m)
Sustainable Investment 11,227 330 - 10,309 - 588
Economic Advantage 8,110 443 - 7,428 - 239
Multi-Asset 5,760 - - 5,467 293 -
Global Equity 1,103 45 - 1,058 - -
Global Innovation 524 - - 524 - -
Cashflow Solution 1,248 526 - 584 131 7
Global Fundamental 4,250 1,329 1,163 1,110 535 113
Global Fixed Income 392 - - 159 - 233
Total 32,614 2,673 1,163 26,639 959 1,180
AuMA as at 16 January 2023 were £33,789 million.
Flows
The net outflows over the three months to 31 December 2022 were £632 million
(2021: net inflows £832 million). A reconciliation of fund flows and AuMA
over the three months to 31 December 2022 is as follows:
Total Institutional Accounts & Funds Investment Trusts UK Retail Funds & MPS Alternative Funds International Funds & Accounts
(£m) (£m) (£m) (£m) (£m) (£m)
Opening AuMA - 1 October 2022 31,695 2,666 1,059 25,746 910 1,314
Net flows (632) (188) (10) (236) 3 (201)
Market and Investment performance 1,551 195 114 1,129 46 67
Closing AuMA - 31 December 2022 32,614 2,673 1,163 26,639 959 1,180
The net outflows over the nine months to 31 December 2022 were £2,818 million
(2021: net inflows £2,920 million). A reconciliation of fund flows and AuMA
over the nine months to 31 December 2022 is as follows:
Total Institutional Accounts & Funds Investment Trusts UK Retail Funds & MPS Alternative Funds International Funds & Accounts
(£m) (£m) (£m) (£m) (£m) (£m)
Opening AuMA - 1 April 2022 33,548 1,408 - 30,113 370 1,657
Net flows (2,818) (767) (10) (1,575) 175 (641)
Market and Investment performance (3,264) (279) (66) (2,777) 19 (161)
Majedie acquisition 5,148 2,311 1,239 878 395 325
Closing AuMA - 31 December 2022 32,614 2,673 1,163 26,639 959 1,180
UK Retail Fund Performance (Quartile ranking)
Quartile ranking - Since Launch/Manager Appointed Quartile ranking - 5 year Quartile ranking - 3 year Quartile ranking - 1 year Launch Date/ Manager Appointed
Economic Advantage funds
Liontrust UK Growth Fund 1 1 1 2 25/03/2009
Liontrust Special Situations Fund 1 1 2 3 10/11/2005
Liontrust UK Smaller Companies Fund 1 1 1 2 08/01/1998
Liontrust UK Micro Cap Fund 1 1 1 1 09/03/2016
Sustainable Future funds
Liontrust SF Monthly Income Bond Fund 1 2 2 2 12/07/2010
Liontrust SF Managed Growth Fund 2 1 1 4 19/02/2001
Liontrust SF Corporate Bond Fund 2 4 4 4 20/08/2012
Liontrust SF Cautious Managed Fund 1 2 4 4 23/07/2014
Liontrust SF Defensive Managed Fund 1 1 4 4 23/07/2014
Liontrust SF European Growth Fund 2 4 4 4 19/02/2001
Liontrust SF Global Growth Fund 3 1 3 4 19/02/2001
Liontrust SF Managed Fund 1 1 2 4 19/02/2001
Liontrust UK Ethical Fund 3 3 4 4 01/12/2000
Liontrust SF UK Growth Fund 3 3 4 4 19/02/2001
Global Innovation funds
Liontrust Global Dividend Fund 2 1 2 4 20/12/2012
Liontrust Global Innovation Fund 1 4 4 4 31/12/2001
Global Equity funds(1)
Liontrust Balanced Fund 1 1 2 4 31/12/1998
Liontrust China Fund 4 3 3 2 31/12/2004
Liontrust Emerging Market Fund 2 4 4 3 30/09/2008
Liontrust Global Smaller Companies Fund 1 2 3 4 01/07/2016
Liontrust Global Alpha Fund 1 1 1 4 31/12/2001
Liontrust Global Technology Fund 3 2 2 4 15/12/2015
Liontrust India Fund 4 3 1 2 29/12/2006
Liontrust Japan Equity Fund 2 3 1 1 22/06/2015
Liontrust Latin America Fund 3 2 4 4 03/12/2007
Cashflow Solution funds
Liontrust European Dynamic Fund(2) 1 1 1 1 15/11/2006
Global Fixed Income funds
Liontrust Strategic Bond Fund 3 - 3 3 08/05/2018
Global Fundamental Team funds(3)
Liontrust UK Equity Fund 1 3 3 3 27/03/2003
Liontrust UK Focus Fund 1 4 4 4 29/09/2003
Liontrust Income Fund 1 1 1 2 31/12/2002
Liontrust UK Equity Income Fund 2 4 4 4 19/12/2011
Liontrust US Opportunities Fund 2 2 3 4 31/12/2002
Edinburgh Investment Trust Plc(4) 2 - - 1 27/03/2020
Liontrust Global Equity Fund 2 2 2 3 30/06/2014
Liontrust Global Focus Fund 2 2 2 1 30/06/2014
Liontrust GF US Equity Fund 3 2 3 3 26/06/2014
Liontrust GF UK Equity Fund 4 4 3 3 03/03/2014
Liontrust GF International Equity Fund 3 - 3 3 17/12/2019
Source: Financial Express to 31 December 2022 as at 5 January 2023, bid-bid,
total return, net of fees, based on primary share classes. Edinburgh
Investment Trust Plc NAV source: Morningstar. Past performance is not a guide
to future performance, investments can result in total loss of capital. The
above funds are all UK authorised unit trusts, OEICs, or Irish authorised
OEICs (primary share class).
(1) Liontrust Russia Fund is not included as it is currently suspended and in
an IA sector that is not rankable (e.g., Specialist) so it would not be a fair
comparison to make.
(2) Liontrust European Growth Fund changed its name to Liontrust European
Dynamic Fund on 11 July 2022.
(3) The onshore and offshore Tortoise funds are not included as they are not
in IA sectors.
(4) Edinburgh Investment Trust Plc uses the IT UK Equity Income sector.
For further information please contact:
Tulchan Communications (Tel: 020 7353 4200, Email: liontrust@tulchangroup.com)
Tom Murray or Stephanie Mackrell
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)
John Ions: Chief Executive
Vinay Abrol: Chief Financial Officer & Chief Operating Officer
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Corporate Finance: Justin McKeegan
Panmure Gordon (Tel: 020 7886 2500)
Corporate Broking: Stephen Jones
Corporate Advisory: Dominic Morley
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to
the financial condition, results of operations and businesses and plans of
Liontrust. These statements and forecasts involve risk and uncertainty because
they relate to events and depend upon circumstances that have not yet
occurred. There are a number of factors that could cause actual results or
developments to differ materially from those expressed or implied by these
forward-looking statements and forecasts. As a result, the Liontrust's actual
future financial condition, results of operations and business and plans may
differ materially from the plans, goals and expectations expressed or implied
by these forward-looking statements. Liontrust undertakes no obligation
publicly to update or revise forward-looking statements, except as may be
required by applicable law and regulation (including the Listing Rules of the
Financial Conduct Authority). Nothing in this announcement should be
construed as a profit forecast or be relied upon as a guide to future
performance.
Other information
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restrictions may constitute a violation of the securities laws of any such
jurisdiction.
ENDS
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