UK's Liontrust quarterly net outflows ease as institutional clients add funds
UK's Liontrust quarterly net outflows ease as institutional clients add funds July 22 (Reuters) - British fund manager Liontrust Asset Management LIO.L reported a slowdown in first-quarter outflows on Wednesday, supported by resilient institutional inflows.
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The fund manager reported net outflows of £357 million ($477.8 million) for the three-month period ended June 30, down significantly from £1.1 billion reported a year ago.
The slowdown in outflows reflects a gradual improvement in demand for Liontrust's investment strategies, particularly among institutional clients, as resilient equity markets boost investor confidence.
Liontrust has benefited from investors diversifying away from U.S. equities, strong performance in its European strategies, and the continued expansion of its distribution footprint across Europe, the Middle East and Asia.
"There have been mandate wins in institutional; retail outflows have held steady at the moderated level we saw the previous quarter, with an opportunity to improve as fund performance strengthens over the longer period," said Abid Hussain, research analyst, Panmure Liberum.
The London-listed firm's assets under management and advice (AuMA) climbed roughly 24% quarter-on-quarter to £24.3 billion, partly helped by the acquisition of investment manager River Global.
($1 = 0.7471 pounds)
(Reporting by Rishab Shaju and Atharva Singh in Bengaluru; Editing by Sherry Jacob-Phillips)
((Rishab.shaju@thomsonreuters.com ; +91 9048142177))