Liontrust Asset Management PLC (LON: LIO) have reported a sharp rise in net assets over the interim period, in an update to shareholders published on Wednesday.
The firm reported a strong trading period for its fund management sector combined with growing profit and higher interim dividend payout, which will please shareholders.
Shares of Liontrust slipped 0.13% to 894p. 20/11/19 11:56BST.
In July, the firm reported an AUM in its quarterly update and the results that were published today follow similar trend.
At September 30, the fund manager’s assets under management totalled £14.65 billion, up 16% from £12.67 billion at March 31. Liontrust’s UK Retail funds grew 16% over the first half to £12.02 billion.
On Monday, Liontrust’s AuM stood at £17.89 billion. The fund manager completed the acquisition of Neptune Investment Management Ltd in October, which added £2.73 billion to total funds.
In the six months to the end of September, Liontrust recorded £1.37 billion in net inflows, with the company’s UK Retail funds contributing £1.17 billion of those positive flows. Market & investment performance added £627 million to the total AuM.
Chief Executive John Ions said: “I am delighted to report another strong period of performance for Liontrust. The success of the business reaffirms our continued strategy of investing in our fund management capability, distribution, brand and administration.
“The positive net inflows for our teams shows the enduring appeal of active fund management when investors can see the added value being provided and their expectations being met. To achieve this, asset managers need investment talent, robust processes, strong administration and oversight.”
Ions continued: “At a challenging time for the asset management industry, our clear focus on the fundamentals for success has enabled us to produce strong results.
“The investment we have made over the past few years into our fund management capability, distribution, brand and administration means we are well positioned to drive the business forward during the next stage of our growth.”
In a market where rivals such as Babcock (LON: BAB) saw interim profit growth, shareholders can be pleased with the update provided.
Additionally, Intermediate Capital Group (LON: ICP) and AJ Bell PLC (LON: AJB) saw their shares rise after respectable trading updates.
