At the same time, assets under management (AUM) dropped 7.1% to £1.2bn from £1.3bn at the end of June. The firm said the fall in AUM was mainly caused by market movements.
Fund inflows for the manager were £101m at the end of the period. However, in the second quarter, Liontrust’s UK retail arm recorded outflows of £75m, offshore funds lost £7m, and its institutional business saw an outflow of £5m.
Liontrust’s second quarter performance fees were £128,000, down from £151,000 in Q2, 2010.
Earlier this month, Liontrust announced it would acquire boutique firm Occam.
On the recent acquisition, the company said: “The announcement has been well received by investors … Occam provides Liontrust with two of the faster growing asset classes by adding Asia and Global Emerging Markets funds to Liontrust’s existing UK and European range and two experienced and highly respected fund management teams. The transaction marks the latest step in a successful 16 month phase of growth for Liontrust and the start of the company’s next stage of expansion.”
