At the end of September, the company reported pre-tax profit of £1.7m compared to a pre-tax loss of £3.9m at the same time 12 months earlier. It was also able to deliver a positive adjusted pre-tax profit of £22,000 as opposed to an adjusted loss of £1.6m in 2010.
The company also reported net positive inflows for the six months to the end of September of £59m, with a further £12m since 1 October. This is the fifth consecutive quarter of positive numbers.
The firm’s total assets under management also rose, from £1.13bn in 2010 to £1.19bn at 30 September 2011. This figure has grown further since then with a figure at 10 November of £1.35bn.
Commenting on the results, chief executive John Ions said: “This is a great achievement given the recent volatility in stock markets, the uncertainty this produces among investors and the fact that in the third quarter of 2011 net retail fund sales across the industry hit their lowest level since 2008.”
He added that future growth strategy for the firm will include new fund launches from Occam Asset Management that gives Liontrust fund management capability in Asia and emerging markets, the acquisition of which is now complete.
