Liontrust lost £1bn in assets under management (AUM) in the first week of April as Donald Trump’s tariff announcements plunged markets into uncertainty, according to the firm’s latest trading statement.
This is on top of a £1.3bn outflow it suffered in the first quarter, which doubled to £2.6bn by 10th April following US trade policy changes.
Liontrust began the year with £24.6bn in AUM but this fell 12.2% to £21.6bn by early April. This is a bigger loss than it made in the whole of 2024, with AUM dropping 11.5% throughout last year.
The firm’s Sustainable Investment range remains its most popular, accounting for over a third (36%) of its total AUM. However, money held in these funds still fell £2.3bn over the past year.
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All other Liontrust fund ranges lost AUM over the past year – including the closure of four funds – expect for one. Its Cashflow Solution funds gained £586m since March last year to £2.8bn. This is up £1bn from the beginning of 2024.
Yet the overall decline in AUM was the overwhelming trend, which was mostly caused by market uncertainty which shows no signs of dissipating, according to chief executive officer John Ions.
“It feels that over the past few years, the only certainty has been uncertainty,” he said. “The current day-to-day unpredictability and fluctuations in markets reinforces our belief in active management and the long-term power of robust and repeatable investment processes.
“Our focus remains on what is within our control. We continue to develop the business and are confident we have been making the right changes to ensure it is in the best possible shape for the future.”
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