Liontrust Asset Management grows AUMA by £5.1bn on Majedie acquisition

Liontrust Asset Management shares rose 0.5% to 909p in late morning trading on Tuesday after the group reported a 2.1% growth in assets under management and advice (AuMA) to £34.2 billion on 30 June 2022 in its trading update.

The company attributed £5.1 billion in new AuMA to its acquisition of Majedie Asset Management, which it completed on 1 April 2022.

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The fund management firm announced net outflows of £541 million against net inflows of £1 billion in the three months to 30 June 2021, with the bulk of its outflows linked to £337 million in UK retail funds and MPS, alongside £266 million from international funds and accounts.

“This continues to be a challenging year for investors especially those who have a bias towards growth stocks. Despite the ongoing war in Ukraine and inflationary pressures, supply chain issues and strains on economic growth, we remain confident about the long-term prospects for our investment teams and their processes, along with the quality companies they hold within their portfolios,” said Liontrust Asset Management CEO John Ions.

“Liontrust has not been immune to this environment in terms of both performance and net flows. We continue to focus on what we do well and what has made Liontrust so successful. At the core of this are the rigorous investment processes, along with the strength of our sales and marketing, client communications and brand.”

Fund Management Changes

Liontrust Asset Management further mentioned changes to its fund management team, including a new global innovation investment team led by James Dowey and Storm Uru, supported by Clare Pleydell-Bouverie.

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“We continue to invest in the fund management teams and Liontrust’s expansion over the last few years is giving us the opportunity to develop investment talent,” said Ions.

“This includes the formation of the Global Innovation team that is headed by James Dowey and Storm Uru and who have been joined by Clare Pleydell-Bouverie.”

The global innovation team will reportedly be responsible for managing the Liontrust Global Innovation Fund and the Liontrust Global Dividend Fund,

The firm also noted its Liontrust Income Fund is set to move from the Global Equity team to the Global Fundamental team, and will be managed by Chris Field, with the support of James O’Connor and Dan Ekstein.

The LF Liontrust UK Equity Income Fund has been confirmed under the management of Chris Field, supported by Dan Ekstein.

In addition, the Liontrust US Opportunities Fund has been moved from the Global Equity team to the Global Fundamental team under the management of George Boyd-Bowman.

“The Liontrust Income and US Opportunities funds are moving from the Global Equity team to the Global Fundamental team; the former to be managed by Chris Field, supported by James O’Connor and Dan Ekstein, while George Boyd-Bowman will continue to manage the US fund,” said Ions.

“The excellence of our investment teams, their processes and client service give me great confidence that we will get through the current macro-economic and political environment in a strong position and continue to deliver for our investors and stakeholders.”

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