In the last quarter ending 31 March 2014, total net inflows measured £16m, compared with £261m last year. The net inflows for the quarter include lower fee margin redemptions of £196m from a single client in the firm’s Global Strategic Bond Fund.
Meanwhile, net flows into UK Retail funds hit a high over the last three months, tallying £160m, and measured £293m for the whole year. However, offshore funds took a hit during the same period, ending the year with losses of £215m, which affected the total net flow number.
Over the course of the financial year, assets under management increased by £574m to £3.6bn.
According to chief executive John Ions, the three months to the end of March were the best quarter for net inflows into its UK Retail funds for 10 years.
"The further diversification of our business is shown by the fact the assets under management for five of our fund management teams has grown in the latest quarter. Our sixth team – Global Credit – have been impacted by a specific larger client withdrawing assets as a result of conditions in emerging markets," he said.
Ions also said that the firm is launching four Dublin-based feeder funds for Macro Equity Income, Asia Income, Global Income and UK Growth.
In October last year, Liontrust bought North IP’s £125m assets under management for a nominal figure (£1), allowing North IP to move into the Liontrust stable and North’s chief executive, John Husselbee, to head the new Liontrust multi-asset team.
