During the period, assets under management grew 19% to £3.6bn, partly as a result of the addition of North Investment’s multi-asset/multi-manager team of John Husselbee and Paul Kim, which Liontrust said, enables it: “to access the wider adviser market and meet the increasing demand for investment solutions”.
Liontrust chairman, Adrian Collins said: “We believe demand for multi-asset and multi-manager will continue to grow from financial advisers and private investors, especially among the post-retirement market following the government's recently announced annuity reforms. These pension changes could lead to fund managers attracting billions of pounds in extra flows every year.”
CEO, John Lons, is also bullish on the prospects for the firm, writing in the commentary to the results that he expects the business to benefit from the tailwinds currently pushing the fund management sector as a whole, in particular that the country’s aging population is having to take more responsibility for their pre and post-retirement planning.
“This opportunity was enhanced still further with the announcement in the Budget that the obligation to buy an annuity will be removed. We are well positioned to take advantage of this with our strong range of equity income funds, our multi-asset/multi-manager proposition and our expanding sales in the retail market.
During the year, the group said its adjusted operating margin rose 51% to 30%, net cash increased 55% to £12m while revenue jumped 39%.
