TIDMLIO
RNS Number : 4010B
Liontrust Asset Management PLC
10 January 2018
Embargoed until 7am on 10 January 2018
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust"), the specialist
independent fund management group, today issues a trading update
for the period from 1 October to 31 December 2017 (the
"Period").
Highlights
-- Assets under management ("AuM") were GBP10.6 billion as at
close of business on 31 December 2017 (30 September 2017: GBP9.6
billion), an increase of GBP916 million or 9.5% over the
Period.
-- Net inflows of GBP571 million in the three months ended 31
December 2017 and GBP749 million for the nine months ended 31
December 2017.
-- Donald Phillips joins the Global Fixed Income team from
Baillie Gifford in February 2018 to work alongside David Roberts
and Phil Milburn, who join from Kames Capital later this month.
Commenting, John Ions, Chief Executive, said:
"A strong quarter for fund flows has resulted in AuM now
standing at GBP10.6 billion. Net inflows for the quarter of GBP571
million and GBP749 million for the financial year to date
illustrate the excellent foundations the business has built.
The focus on and assets being invested in sustainable investing
continue to increase. The Sustainable Investment team has been a
significant contributor to the expansion of the business since
joining Liontrust at the start of last April, with the AuM it is
managing increasing by nearly GBP500 million to just shy of GBP3
billion.
The Sustainable Investment team's rigorous approach to investing
and strong performance track record make it a compelling client
proposition. Over one year to 31 December 2017, all 10 of the
UK-domiciled funds managed by the Sustainable Investment team were
in the 1(st) quartile of their respective IA sectors. Over three
years, eight out of the 10 funds were in the 1(st) quartile.
We have expanded further our investment teams with the
recruitment of David Roberts, Phil Milburn and Donald Phillips.
This new Global Fixed Income team has a demonstrative track record
of adding value to client portfolios and are highly regarded by
investors in the UK and continental Europe.
Donald will be joining David and Phil in February from Baillie
Gifford and is a significant addition to the Global Fixed Income
team because of his experience, knowledge and insight, particularly
of high yield bonds. Having previously worked together at Kames,
David and Phil know Donald's strengths and how they complement each
other.
Liontrust does not aim to offer all investment options but the
working environment we provide for managers who have strong
investment processes has never been more valued by investors.
A final mention must go to Anthony Cross who on 8 January
celebrated 20 years of managing the UK Smaller Companies Fund.
Continuing to manage the Fund for 20 years is a fantastic and rare
achievement and is a testament to the robust Economic Advantage
investment process."
Funds under Management
On 31 December 2017, our AuM stood at GBP10.556 billion and were
broken down by type and process as follows:-
Offshore
Process Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Cashflow Solution 964 522 324 - 118
Economic Advantage 5,016 297 4,639 - 80
Macro Thematic 500 164 309 - 27
European Income 247 - 247 - -
Asia 117 - 106 - 11
Sustainable Investment 2,971 54 2,718 - 199
Multi-Asset 692 - - 692 -
Indexed 49 - 49 - -
Total 10,556 1,037 8,392 692 435
Funds Flows
The net inflows over the three months to 31 December 2017 are
GBP571 million (2016: GBP190 million). A reconciliation of fund
flows and AuM over the three months to 31 December 2017 is as
follows:-
Offshore
Total Institutional UK Retail Multi-Asset Funds
(GBPm) (GBPm) (GBPm) (GBPm) (GBPm)
Opening AuM - 1 October
2017 9,640 966 7,610 634 430
Net flows 571 39 495 38 (1)
Market and Investment
performance 345 32 287 20 6
Closing AuM - 31 December
2017 10,556 1,037 8,392 692 435
Fund Performance (Quartile ranking)
Quartile Quartile Quartile Quartile Launch
ranking ranking ranking ranking Date/Manager
- Since - 5 year - 3 year - 1 year Appointed
Launch/Manager
Appointed
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust UK
Growth Fund 1 2 1 2 25/03/2009
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Special
Situations Fund 1 1 1 1 10/11/2005
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust UK
Smaller Companies
Fund 1 2 1 3 08/01/1998
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust UK
Micro Cap Fund 3 - - 4 09/03/2016
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Macro
Equity Income
Fund 1 3 4 3 31/10/2003
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Macro
UK Growth Fund 2 3 4 2 01/08/2002
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust European
Growth Fund 1 2 2 4 15/11/2006
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Asia
Income Fund 2 2 3 4 05/03/2012
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust European
Income Fund 3 3 4 4 15/12/2005
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust European
Enhanced Income
Fund (Hedged) 4 4 4 4 30/04/2010
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Global
Income Fund 4 - 4 3 03/07/2013
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust Monthly
Income Bond
Fund 1 1 1 1 12/07/2010
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Absolute Growth
Fund 4 1 1 1 19/02/2001
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Corporate Bond
Fund 1 1 1 1 20/08/2012
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Cautious Managed
Fund 1 - 2 1 23/07/2014
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Defensive Managed
Fund 1 - 1 1 23/07/2014
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
European Growth
Fund 2 2 1 1 19/02/2001
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Global Growth
Fund 4 2 2 1 19/02/2001
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
Managed Fund 3 1 1 1 19/02/2001
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust UK
Ethical Fund 2 1 1 1 01/12/2000
-------------------- ---------------- ---------- ---------- ---------- --------------
Liontrust SF
UK Growth Fund 2 1 1 1 19/02/2001
-------------------- ---------------- ---------- ---------- ---------- --------------
Source: Financial Express, total return (income reinvested and
net of fees), bid to bid, to 31 December 2017 unless otherwise
stated, based on primary share classes. The above funds are all UK
authorised unit trusts or UK authorised ICVCs (primary share
class). Liontrust FTSE 100 Tracker Fund (index fund) not included.
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.
Quartile rankings correct as at 02/01/2018.
Global Fixed Income team
Liontrust has recruited Donald Phillips to join the Global Fixed
Income team in February 2018. Donald is highly regarded and will
further strengthen the team that will be formed this month when
David Roberts and Phil Milburn join from Kames Capital.
Donald is an investment manager in the Credit team at Baillie
Gifford and previously worked with David and Phil at Kames Capital
for three years from 2005 to 2008. Donald has been co-manager of
the Baillie Gifford High Yield Bond Fund since June 2010 and the US
High Yield strategy since its launch in February 2017.
David and Phil have a long and successful track record of
managing fixed income funds. David was Head of the Fixed Income
team at Kames Capital, and Phil was Head of Investment Strategy of
the team.
After the managers join Liontrust, we will launch Strategic
Bond, High Yield Bond and Absolute Return Bond Funds, subject to
appropriate regulatory approvals.
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
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 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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