The fund manager posted net inflows of £66m for the period from 1 April to 30 June, £36m of which came from its UK retail arm.
The group achieved this result in spite of £10m worth of total investment losses in Q2, its UK Retail and offshore divisions generating the greatest losses, £22m and £2m, respectively. Its positive flows also outweighed £7m in outflows during the period.
AUM increased by approximately 1.17% from £4.79bn to £4.84bn between the first and second quarters and is due to expand by £283m after the acquisition of Argonaut Capital Partners’ European Income Business is finalised in early July.
Liontrust said one of the reasons it was able to sustain its AUM growth over the quarter was through beefing up its multi-asset offering via its partnership with Verbatim Asset Management. In total, the multi-asset team has brought in £500m, not counting £156m of new mandates to be included in the next trading update.
Chief executive John Ions noted the increased challenge in effectively managing investors’ money post-Brexit.
“We do not know at this stage when negotiations for Brexit will begin or what Brexit may look like,” he said. “What we do know is that people will still need to save and will continue to need good quality fund managers to help them achieve their financial objectives. During such political, economic and market uncertainty, our rigorous and repeatable processes stand us in good stead with our investors.”
