Liontrust upbeat despite fall in assets

The FTSE 250 fund manager said assets under management and advice were £27bn as at 30 June, down 2.8%.

Net outflows, meanwhile, were £923m in the three months to June end, although that was an improvement on the £1.6bn recorded in the same period a year previously.

John Ions, chief executive, also struck a positive note looking forward.

He said: "Labour’s large majority in last week’s general election should herald a period of stability that will be positive for financial markets. It is encouraging that the new government has a pro-growth agenda and is committed to the simplification of pensions.

"Along with falling inflation and the expectation of a reduction in interest rates, this should encourage international investors to return to the UK and boost capital flows to the stock market.

"Liontrust is well placed for this improving environment, as we have a strong brand, distribution, robust investment process and a leading reputation for managing UK equities."