Liontrust and Impax Asset Management both saw assets under management smash through the £20bn barrier in the three months to the end of September, despite ongoing headwinds from Covid-19.
Liontrust reported netting £1.7bn of inflows for the six months ended 30 September, including £770m of net inflows in the last three months, which took AUM to £20.6bn, an increase of 28% since the start of the current financial year.
Net inflows for the same quarter in 2019 were £642m.
The total AUM does not include £5.8bn in assets expected from the acquisition of the Architas UK investment business which is due to complete on 30 October and will push assets above £26bn.
Nor does it reflect the recent announcement to offload the £82m Asia Income investment team to Somerset Capital which is expected to complete in the first quarter of 2021, or the closure of its European Income and Macro Thematic investment teams.
‘Strong momentum’ sees Liontrust through Covid crisis
Liontrust chief executive John Ions said “strong momentum” of the business over the past few years had continued through the Covid-19 crisis.
He added: “This is testament to our fund management teams and their robust investment processes, strong relationships with clients, the power of the brand and how successfully everyone at Liontrust has adapted to the current environment.
“This is demonstrated by the clarity and speed of our communications since March, providing reassurance to and insights for our clients.”
Ions singled out the growth in assets managed by Liontrust’s sustainable investment team since it joined Liontrust in April 2017 from Alliance Trust Investments, rising from £2.5bn to £7.5bn.
Impax assets hit record high
Elsewhere, Impax Asset Management reported an 11.4% increase in AUM during the three months to the end of September, taking the total to £20.2bn. Net flows were reported as £654m while market movement, FX and investment performance added £1.4bn.
Over the 12 months to 30 September, AUM increased 34%.
Impax chief executive Ian Simm said: “The Covid-19 pandemic has created a tragedy of exceptional proportions and has significantly impaired all economies around the world. Although markets have been volatile, Impax’s investment performance has remained strong, and the company has attracted high levels of net inflows.
“The pandemic has reinforced the imperative of a transition to a more sustainable economy, while society’s response has given us an indication of what will be needed to address climate change and other challenges of sustainable development.”
