TIDMLIO
RNS Number : 8334T
Liontrust Asset Management PLC
11 January 2017
Embargoed until 7am on 11 January 2017
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust" or the "Group"), the
specialist independent fund management group, is today issuing a
trading update for the period from 1 October to 31 December 2016
(the "Period").
Highlights
-- Net inflows of GBP190 million in the Period and net inflows
for the financial year to 31 December 2016 of GBP282 million
-- Assets under Management ("AuM") as at close of business on 31
December 2016 were GBP6.0 billion, up 25% compared to our AuM at 31
March 2016
-- Proposed acquisition of the Alliance Trust Investments
Limited ("ATI"), which was announced in December 2016 and is
expected to complete in April 2017, will add GBP2.3 billion of AuM
(as announced in December 2016)*
* ATI AuM not included in the 31 December 2016 AuM figures or
the net inflows for the Period/financial year to 31 December
2016
Commenting, John Ions, Chief Executive, said:
"We enjoyed a strong last three months of 2016 with net inflows
of GBP190 million and our AuM breaking through GBP6 billion. This
continued growth reflects the excellent long-term performance
across our fund management teams and is a testament to our focus on
robust investment processes and expanding our client base.
"Our acquisition of ATI, which is expected to complete in April
2017, is anticipated to add around GBP2.3 billion to our AuM and
extends further our investment capability while broadening our
distribution.
"The asset management industry is facing a number of significant
challenges and opportunities as we enter 2017, including through
regulatory, political and economic changes. We are well placed to
deal with the challenges and to exploit the opportunities during
this unprecedented environment given the ongoing development of the
business.
"This includes the investment in our internal infrastructure,
including a new dealing system, fully integrating our sales and
marketing systems, notably through our CRM, and Ian Chimes joining
in February as Head of Global Distribution. This gives me great
confidence that we will continue to grow the business whatever the
challenges and opportunities we face."
Assets under Management
On 31 December 2016, our AuM stood at GBP6,009 million (30
September 2016: GBP5,685 million and 31 March 2016: GBP4,791
million).
A reconciliation of fund flows and AuM over the Period is as
follows:
Offshore
Process Total Institutional UK Retail MPS* Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Cashflow Solution 813 520 235 - 58
Economic Advantage 3,462 223 3,190 - 49
Macro-Thematic 743 331 383 - 29
European Income 265 - 265 - -
Asia 81 - 73 - 8
Structural Opportunities 23 - - - 23
Multi-Asset 573 329 - 244 -
Indexed 49 - 49 - -
Total 6,009 1,403 4,195 244 167
* Managed Portfolio Services are where we act as discretionary
fund manager to a range of model portfolios which are marketed to
advisory intermediaries in the UK.
Funds Flows
Liontrust recorded net inflows of GBP190 million in the Period
(1 October to 31 December 2015: GBP53 million). Net inflows for the
financial year to 31 December 2016 were GBP282 million (1 April to
31 December 2015: GBP163 million).
A reconciliation of net flows and AuM over the Period is as
follows:-
Offshore
Total Institutional UK Retail MPS* Funds
GBPm GBPm GBPm GBPm GBPm
Opening AuM - 1 October
2016 5,685 1,355 3,973 229 128
Net flows 190 15 128 13 34
Market and Investment
performance 134 33 94 2 5
Closing AuM - 31 December
2016 6,009 1,403 4,195 244 167
A reconciliation of net flows and AuM over the financial year to
31 December 2016 is as follows:-
Offshore
Total Institutional UK Retail MPS* Funds
GBPm GBPm GBPm GBPm GBPm
Opening AuM - 1 April
2016 4,791 1,138 3,330 204 119
Net flows 282 91 132 23 36
Acquisitions 272 - 272 - -
Market and Investment
performance 664 174 461 17 12
Closing AuM - 31 December
2016 6,009 1,403 4,195 244 167
* Managed Portfolio Services are where we act as discretionary
fund manager to a range of model portfolios which are marketed to
advisory intermediaries in the UK.
Fund Performance (Quartile ranking)
Our funds continue to deliver strong long-term performance.
Seven out of eleven of our UK unit trusts are in the first quartile
of their respective sectors since launch or since the current
managers took over the running of the funds.
Quartile ranking Quartile Quartile Quartile Launch
- Since Launch/Manager ranking ranking ranking Date/Manager
Appointed - 5 year - 3 year - 1 year Appointed
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust UK Growth
Fund 1 2 1 1 25/03/2009
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust Special
Situations Fund 1 1 1 1 10/11/2005
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust UK Smaller
Companies Fund 1 1 1 1 08/01/1998
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust UK Micro 3 - - - 09/03/2016
Cap Fund
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust Macro Equity
Income Fund 1 3 3 3 31/10/2003
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust Macro UK
Growth Fund 1 4 4 4 01/08/2002
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust European
Growth Fund 1 3 1 1 15/11/2006
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust Asia Income
Fund 1 - 2 1 05/03/2012
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust European
Income Fund 3 3 2 3 12/12/2005
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust European
Enhanced Income Fund 3 4 4 4 30/04/2010
------------------------- ------------------------ ---------- ---------- ---------- --------------
Liontrust Global Income
Fund 3 - 4 1 03/07/2013
------------------------- ------------------------ ---------- ---------- ---------- --------------
Source: Financial Express, total return, bid to bid, net, to 31
December 2016 unless otherwise stated, data is accurate as at 6
January 2017. The above funds are all UK authorised unit trusts
(primary share class). Liontrust FTSE 100 Tracker Fund (index fund)
not included. Liontrust Global Income Fund's investment objective
changed to Global Income on 3 July 2013. Past performance is not a
guide to the future; the value of investments and the income from
them can fall as well as rise. Investors may not get back the
amount originally subscribed.
For further information please contact:
Liontrust Asset Management Plc 020 7412 1700
John Ions www.liontrust.co.uk
Vinay Abrol
Simon Hildrey - Chief Marketing Officer
Numis Securities Limited 020 7260 1000
Corporate Broking & Advisory - Charles Farquhar, Andrew
Holloway
Macquarie Capital (Europe) Limited 020 3037 2000
Advisory - Jonny Allison, Kavita Choitram
Corporate Broking - Alex Reynolds, Nicholas Harland
Forward Looking Statements
This announcement contains certain forward-looking statements
with respect to the financial condition, results of operations and
businesses and plans of the Group. 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 Group'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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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