Liontrust sees annual outflows top £6bn

Updating on end-of-year trading, the firm said closing assets under management and administration (AUMA) were £27.8bn as at 31 March - down from £31.4bn a year previously - following £6.1bn of net flows.

That compares to net flows of £4.8bn in the 2023 financial year.

In the fourth quarter, net flows were £1.2bn but AUMA held steady compared to the previous quarter, after a £1.2bn marketing and investment performance gain.

Liontrust said that many of its core investment strategies, notably quality growth, small/mid caps and UK equities, had been “out of favour”, hitting both performance and flows. AUMA were £27.6bn as at 12 April.

However, it struck a more upbeat tone looking forward.

Chief executive Jon Ions said: “We start the new financial year with confidence to drive the business forward after the challenges of the last 18 months.

“Liontrust has improving investment performance in the short term, as well as excellent performance over the long term, and it appears the UK and other developed economies have reached peak interest rates.

“As market sentiment changes, Liontrust is well positioned to benefit.”

Ions also flagged the Aim-listed firm’s expansion plans, noting: “Liontrust has a strong brand in the UK and is seeking to build the same profile internationally."

As at 1000 BST, shares in Liontrust were had sparked 6% at 675.8p.