Liontrust reports net inflows of £189m

John Ions 440

Liontrust Asset Management has reported net inflows of £189m in the six months to September 30, 2012.

The figure is up 220 per cent on the £59m of inflows for the same period in 2011.

Liontrust has reported a pre-tax loss of £4m in the six months to September 30, compared to a £200,000 profit in the same period in 2011. The loss relates to the £4.9m acquisition of Walker Crips Asset Managers. Adjusted profit before tax stood at £900,000.

The group has also revealed a 55 per cent rise in assets under management in the past 12 months to September 30, from £1.19bn to £2.36bn.

Performance fees made by the asset manager stood at £20,000 in the six months to September 30, down from £576,000 for the same period in 2011. Liontrust says £119,000 of these related to the disposal of its credit business in June 2011.

Liontrust chief executive John Ions (pictured) says: “Liontrust has enjoyed a very strong first six months of the financial year, continuing the substantial progress the business has made over the past couple of years.

“Fund performance and distribution capability are key to this trend continuing. Since the funds were launched or the current fund managers were appointed, all bar one of our nine unit trust funds have outperformed their benchmark and the average fund performance in their respective sectors.

“We have also maintained our focus on broadening and deepening our relationships with institutional and intermediary clients. This will take on even greater importance in the post-RDR world as fewer and more powerful distributors emerge who will control ever increasing amounts of fund flows.”