Weekly Outlook: British American Tobacco and Currys figures
Key events for wealth managers in the week beginning 9 December
Key events for wealth managers in the week beginning 9 December
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Outflows increased by 6,204% compared to 2023
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External net inflows were £600m for the nine months to 30 September
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Group revenue increased by 23.7% in the six months to 30 September 2024
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Group warned of Q4 £8bn outflow from legacy Scottish Widows mandate
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Core net inflows of £1.5bn, representing 5% of opening assets under management and advice
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Total outflows increased to £2.1bn in the first half of its financial year
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IFRS losses after tax amounted to £56m, compared to a £309m profit during H2 last year
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Company also achieved a 28% increase in adjusted profit
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The business was impacted by outflows and lower margins in its Investments arm
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Underlying net outflows were just £0.2m, excluding the impact of the departures, with positive flows in retail and wholesale
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Liontrust’s suite of funds saw net outflows of £6.1bn during the year
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