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Liontrust assets under management fall in Q3
(Sharecast News) - Asset manager Liontrust said on Thursday that assets under management had shrunk in the three months ended 30 September amid uncertainty around changes to taxation in the lead-up to the UK budget.
Liontrust said assets under management had decreased 4% in the quarter to £26.0bn as "speculation and uncertainty" around changes to taxation and reliefs impacted investor confidence and fund flows for the industry as a whole.
As a result, Liontrust reported another quarter of net outflows, narrowing from £1,6bn to £1.1bn, as a challenging environment for active managers continued for longer than anticipated.
Chief executive John Ions said: " Despite the current difficult period for active managers, Liontrust is well positioned to drive the business forward. We have a clear and focused strategy that we continue to execute successfully. Liontrust has a strong brand, very good client engagement and relationships, and broadening distribution and fund range. We have excellent investment teams with proven processes."
As of 0820 BST, Liontrust shares were down 2.42% at 515.23p.
Reporting by Iain Gilbert at Sharecast.com
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