REG - Liontrust Asset Mgmt - Trading Statement

Liontrust Asset ManagementAnnouncement

10/10/2024 07:00

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RNS Number : 6096H  Liontrust Asset Management PLC  10 October 2024

LEI: 549300XVXU6S7PLCL855

For immediate release

10 October 2024

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 30 September 2024 (the "Period").

 

·    Net outflows of £1.1 billion in the Period (2023: £1.6 billion).

 

·    Assets under management and advice ("AuMA") were £26.0 billion as at
30 September 2024, a decrease over the Period of 4%.

 

Commenting, John Ions, Chief Executive Officer, said:

 

"The new government's large electoral mandate raised expectations of political
and economic stability and a strong pro-growth agenda. The speculation and
uncertainty around changes to taxation and reliefs in the lead up to the
Budget on 30 October, however, have impacted investor confidence and fund
flows for the whole industry including Liontrust. This has contributed to
another quarter of net outflows as the challenging environment for active
managers has continued for longer than anticipated.

 

Liontrust continues to improve the business to achieve our strategic
objectives. We have strengthened data management, delivery and analysis
through the implementation of a new enterprise portfolio management system.
This will enhance the reporting and digital services we provide clients,
provide significant benefits to our investment management and risk teams, and
deliver productivity gains and efficiencies across the business.

 

The Global Equities team, led by Mark Hawtin, are now settled in at Liontrust
and providing access to potential new clients for the Company internationally.
The diversification of our fund range continues as we will be expanding the
Irish-domiciled range for European investors.

 

Liontrust is deepening engagement with clients, which is essential to retain
assets and return the business to positive net flows. The investment teams are
presenting at an extensive range of Liontrust and third-party events across
the UK and Europe this Autumn, including a discussion on the UK stock market
and economy at the House of Commons last week and a Liontrust investment
conference in November in London.

 

The Liontrust brand continues to be strong. Among financial advisers in the
UK, Liontrust is rated as the 4(th) best asset manager and 2(nd) for brand
familiarity (Source: UK Advisory Study conducted by Research in Finance July
2024). Liontrust is ranked as the 6(th) best asset manager by wealth managers
in the UK and 4(th) for brand familiarity.

 

We deliver content and educational material that is valued by intermediaries
and their clients, demonstrated by the digital engagement and feedback we
receive. This includes Liontrust receiving the second-best score for an asset
manager for educational literature from retail investors who are part of an
industry consumer panel.

 

Despite the current difficult period for active managers, Liontrust is well
positioned to drive the business forward. We have a clear and focused strategy
that we continue to execute successfully. Liontrust has a strong brand, very
good client engagement and relationships, and broadening distribution and fund
range. We have excellent investment teams with proven processes. Furthermore,
the operation of the business has been enhanced, improving our productivity
and efficiencies."

 

Assets under management and advice

 

On 30 September 2024, our AuMA stood at £25,956 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  9,477   312                                 0                  8,768                      0                  397
 Economic Advantage      5,918   413                                 0                  5,408                      0                  97
 Multi-Asset             4,111   0                                   0                  4,012                      99                 0
 Global Equities         1,149   0                                   0                  1,118                      23                 8
 Global Innovation       834     0                                   0                  834                        0                  0
 Cashflow Solution       2,411   516                                 0                  1,562                      136                197
 Global Fundamental      1,934   228                                 1,186              515                        0                  5
 Global Fixed Income     122     0                                   0                  22                         0                  100
 Total                   25,956  1,469                               1,186              22,239                     258                804

 

Flows

 

The net outflows over the Period were £1,144 million (2023: £1,583 million).
A reconciliation of fund flows and AuMA over the Period 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 July 2024           27,038   1,595                               1,153              23,118                     275                897

 Net flows                            (1,144)  (123)                               (11)               (904)                      (24)               (82)

 Market & Investment performance      62       (3)                                 44                 25                         7                  (11)

 Closing AuMA - 30 Sep 2024           25,956   1,469                               1,186              22,239                     258                804

 

Key Fund Performance (Quartile ranking)

 

UK domiciled funds-

                                          Quartile ranking - Since inception  Quartile ranking - 5 year  Quartile ranking - 3 year  Quartile ranking - 1 year  Inception Date
 Economic Advantage funds
 Liontrust Special Situations Fund        1                                   3                          3                          4                          10/11/2005
 Liontrust UK Growth Fund                 1                                   3                          3                          4                          01/04/1996
 Liontrust UK Micro Cap Fund              1                                   1                          2                          4                          09/03/2016
 Liontrust UK Smaller Companies Fund      1                                   2                          3                          4                          08/01/1998
 Sustainable Future funds
 Liontrust SF Cautious Managed Fund       2                                   4                          4                          3                          23/07/2014
 Liontrust SF Corporate Bond Fund         3                                   2                          3                          1                          19/02/2001
 Liontrust SF Defensive Managed Fund      1                                   4                          4                          2                          23/07/2014
 Liontrust SF European Growth Fund        3                                   4                          4                          2                          19/02/2001
 Liontrust SF Global Growth Fund          3                                   3                          4                          2                          19/02/2001
 Liontrust SF Managed Fund                2                                   2                          4                          1                          19/02/2001
 Liontrust SF Managed Growth Fund         2                                   1                          4                          1                          19/02/2001
 Liontrust SF Monthly Income Bond Fund    1                                   1                          2                          1                          12/07/2010
 Liontrust SF UK Growth Fund              3                                   4                          4                          1                          19/02/2001
 Liontrust UK Ethical Fund                3                                   4                          4                          1                          01/12/2000
 Global Innovation funds
 Liontrust Global Dividend Fund           2                                   1                          1                          1                          20/12/2012
 Liontrust Global Innovation Fund         1                                   2                          4                          1                          31/12/2001
 Liontrust Global Technology Fund         2                                   2                          1                          1                          15/12/2015
 Global Equity funds
 Liontrust Balanced Fund                  1                                   1                          3                          1                          31/12/1998
 Liontrust China Fund                     4                                   3                          3                          2                          31/12/2004
 Liontrust Emerging Market Fund           3                                   4                          3                          2                          30/09/2008
 Liontrust Global Alpha Fund              1                                   2                          4                          3                          31/12/2001
 Liontrust Global Smaller Companies Fund  4                                   3                          4                          3                          31/12/2007
 Liontrust India Fund                     4                                   1                          2                          3                          29/12/2006
 Liontrust Japan Equity Fund              2                                   1                          1                          1                          22/06/2015
 Liontrust Latin America Fund             3                                   3                          3                          1                          03/12/2007
 Liontrust US Opportunities Fund          2                                   3                          4                          3                          31/12/2002
 Cashflow Solution funds
 Liontrust European Dynamic Fund          1                                   1                          1                          4                          15/11/2006
 Global Fixed Income funds
 Liontrust Strategic Bond Fund            2                                   3                          3                          1                          08/05/2018
 Global Fundamental funds
 Liontrust Income Fund                    1                                   2                          2                          3                          31/12/2002
 Edinburgh Investment Trust Plc           1                                   -                          1                          1                          31/03/2020
 Liontrust UK Equity Fund                 1                                   2                          2                          2                          27/03/2003
 Liontrust UK Focus Fund                  1                                   3                          3                          1                          29/09/2003
 Multi Asset funds
 Liontrust MA Explorer 35 Fund            1                                   -                          -                          1                          31/12/2002
 Liontrust MA Explorer Income 45 Fund     2                                   -                          -                          1                          31/03/2020
 Liontrust MA Explorer Income 60 Fund     1                                   -                          -                          1                          27/03/2003
 Liontrust MA Explorer 70 Fund            2                                   -                          -                          2                          29/09/2003
 Liontrust MA Explorer 85 Fund            1                                   -                          -                          2                          29/09/2003
 Liontrust MA Explorer 100 Fund           1                                   -                          -                          2                          29/09/2003
 Liontrust MA Monthly High Income Fund    3                                   4                          2                          1                          01/05/2012
 Liontrust MA UK Equity Fund              4                                   3                          2                          2                          12/11/2001

 

Irish domiciled funds-

                                               Quartile ranking - Since inception  Quartile ranking - 5 year  Quartile ranking - 3 year  Quartile ranking - 1 year  Inception Date
 Economic Advantage funds
 Liontrust GF Special Situations Fund          1                                   3                          3                          3                          08/11/2012
 Liontrust GF UK Growth Fund                   1                                   2                          2                          4                          03/09/2014
 Sustainable Future funds
 Liontrust GF SF European Corporate Bond Fund  2                                   2                          2                          1                          29/05/2018
 Liontrust GF SF Global Growth Fund            2                                   -                          4                          2                          12/11/2019
 Liontrust GF SF Multi Asset Global Fund       4                                   -                          -                          2                          13/10/2021
 Liontrust GF SF Pan-European Growth Fund      3                                   4                          4                          2                          14/03/2001
 Liontrust GF SF US Growth Fund                3                                   -                          -                          3                          07/07/2023
 Cashflow Solution funds
 Liontrust GF European Smaller Companies Fund  1                                   1                          1                          1                          01/02/2017
 Liontrust GF European Strategic Equity Fund   1                                   1                          1                          1                          25/04/2014
 Global Fixed Income funds
 Liontrust GF Absolute Return Fund             3                                   3                          2                          3                          26/06/2018
 Liontrust GF High Yield Fund                  1                                   2                          2                          1                          08/06/2018
 Liontrust GF Strategic Bond Fund              1                                   2                          2                          1                          13/04/2018

 

Source: Financial Express to 30 September 2024 as at 7 October 2024, bid-bid,
total return, net of fees, based on primary share class.

 

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, Irish authorised OEICs (primary share class) or UK listed investment
trusts. Onshore funds use the Financial Express Investment Association
sectors. Offshore funds use the FCA Recognised offshore sectors. Edinburgh
Investment Trust Plc uses the AIC Investment Trust UK Equity Income sector.

 

MA Explorer funds had an objective change on 05/04/2023 and rankings are shown
from then.

 

MA Dynamic Passive fund range, MA Blended fund range, Diversified Real Assets
Fund and Russia Funds (suspended) are not included as are in an IA sector that
is not rankable, GF Pan European Dynamic Fund is excluded because was recently
launched. GF UK Equity, Internation Equity, US Equity and GF Tortoise are
excluded as are closing.

 

Notice of Half Year Results Announcement

 

Liontrust confirms that it will be announcing its half year results for the
six months ended 30 September 2024 on Thursday, 21 November 2024.

 

For further information please contact:

 

Teneo (Tel: 020 7353 4200, Email: liontrust@teneo.com)

Tom Murray, Colette Cahill, Jessica Pine

 

Liontrust Asset Management Plc (Tel: 020 7412 1700, Website:
liontrust.co.uk)

Stephen Corbett: Head of Investor Relations

Simon Hildrey: Chief Marketing Officer

 

Singer Capital Markets (Tel: 020 7496 3000)

Corporate Broking: Charles Leigh-Pemberton

Corporate Advisory: James Moat

 

Panmure Liberum (Tel: 020 7886 2500)

Corporate Broking: David Watkins

Corporate Advisory: Atholl Tweedie

 

HSBC Bank plc (Tel: 020 7991 8888)

Corporate Broking: Simon Alexander, James Hopton

Corporate Advisory: Alexander Paul

 

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

The release, publication, transmission or distribution of this announcement
in, into or from jurisdictions other than the United Kingdom may be restricted
by law and therefore persons in such jurisdictions into which this
announcement is released, published, transmitted or distributed should inform
themselves about and observe such restrictions. Any failure to comply with the
restrictions may constitute a violation of the securities laws of any such
jurisdiction.

 

ENDS

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