Liontrust has said it expects to be well ahead of market expectations in terms of revenue and profit for the year ended 31 March.
On Thursday the asset manager, headed by CEO John Ions (pictured), issued a statement saying it expects revenues to be “ahead” and adjusted profit before tax to be “significantly ahead” of what the market is expecting.
Its adjusted profit before tax will be not less than £63m, driven primarily by stronger than expected performance fee revenues during the period of £13.7m, it said.
In 2020 the firm made a number of changes to its fund range including scrapping its £111m European Income and £84m Macro Thematic investment teams and offloading its Asian Income team, headed by Mark Williams, to Somerset Capital.
According to the latest Pridham Report, Liontrust was the third top selling fund group in Q1 with £924m of net retail sales. Baillie Gifford came in the top spot with £2bn, followed by Allianz Global Investors with £1.2bn.
Last month, the group announced its intention to launch the Liontrust ESG Trust, managed by Peter Michaelis, Simon Clements and Chris Foster, at the end of June.
Liontrust’s sustainable investment team has said launching its first ever closed-ended mandate will allow exposure to smaller, less liquid companies than currently accessible in the open-ended fund range.
