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LONDON - Liontrust Asset Management reported net outflows of £1.2 billion for the three months ended September 30, according to a trading update released Tuesday. The specialist independent fund manager saw its assets under management and advice (AuMA) decrease by 2.7% to £22.0 billion during the period.
The outflows, slightly higher than the £1.1 billion reported in the same period last year, were spread across wealth manager, adviser and retail clients in the UK. Despite the challenging quarter, the company’s AuMA had recovered slightly to £22.2 billion as of October 3.
Chief Executive Officer John Ions pointed to signs of improving conditions for active management, noting increased client interest in diversifying away from U.S. markets. "We are having success among institutional investors and wealth managers, notably internationally," Ions said in the statement, highlighting new mandates and additions to clients’ buy lists.
The company reported it has expanded its global reach, with clients now in South America, Australia, South Africa and the Middle East, in addition to the UK and Europe. Ions noted particular interest in Liontrust’s European and global equities strategies.
The fund manager’s performance metrics showed mixed results across its various investment strategies. Among its UK-domiciled funds, the Global Innovation Fund and Balanced Fund achieved first-quartile rankings for one-year performance, while several funds in the Economic Advantage and Sustainable Future categories placed in the third or fourth quartiles.
Liontrust’s largest segment remains its Sustainable Investment process, which accounted for £7.6 billion of total AuMA, followed by Multi-Asset strategies at £3.9 billion and Economic Advantage at £3.3 billion.
The company is scheduled to announce its half-year results for the six months ended September 30 on November 20, according to the trading update.
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