Testing times for Liontrust

While net outflows may be slowing, the loss of close to £1 billion of assets over the last six months – from retail and institutional mandates – must be a worry for Liontrust. Indeed Nigel Legge, the chief executive, today described the last six months as the most challenging the business has faced since it was established in 1995. Liontrust’s total assets under management now stand at £1.279 billion, down from the £4.7 billion it started with in 2008.

Not only has the boutique had to contend with volatile markets, it also started the year losing two of its highest profile managers – Jeremy Lang and William Pattisson.

However, it is not all doom and gloom. Over the course of the year the firm has added to its manager line-up through hiring Andrew Hollyman from GAM and a four-strong fixed income team from Ilex Asset Management. Fund launches for each have since followed, with the group aiming to diversify from its old stance of being a pure British equity player.

The group’s second-half results, published in November, will be watched closely to see whether the new strategy is proving successful.