Liontrust sees net inflows despite performance losses

growthLiontrust Asset Management, a London-listed fund manager, saw net inflows of £190 million (€238.5 million) in the three months ending June, bringing its total assets under management to £3.8 billion.

The increase came despite losses of £20 million as a result of market and investment performance. The losses were across all business lines except discretionary portfolio management, which gained £2 million on top of a £23 million net inflow.

UK retail, the largest part of Liontrust’s business with £2.8 billion of assets in total, saw the biggest loss of £18 million, but also the largest net inflow of £100 million.

Pointing out that seven out of eight of its actively managed UK retail funds are in the first quartile of their peer group returns, Jon Ions, chief executive, says he is pleased with an improvement in recent fund performance.

“The benefit of applying distinct and robust investment processes to the management of our funds is shown by shorter term numbers moving more to their long-term trend,” he says in an interim management statement. “This comes after a difficult year in 2013 when quality companies were not rewarded.”

The institutional business line gained a net £64 million of inflow, and offshore £3 million.

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