Liontrust Asset Management has reported £66m of net inflows in the second quarter of this year despite the volatility sparked by the EU referendum.
In its trading statement, published today, the asset manager says inflows between 1 April and 30 June were £66m compared to outflows of £7m for the same period a year ago.
Flows contributed to the slight increase of assets under management from £4.79bn three months ago to £4.84bn.
The firm is also expecting an extra £156m in assets in July thanks to new mandates for its multi-asset products. Assets under management for the multi-asset team has now reached more than £500m, the firm says.
Elsewhere, the company has confirmed it is completing the already announced acquisition of Argonaut Asset Management’s European Income business on the 8 July. This will bring an expected £283m of assets to the business.
Liontrust Asset Management chief executive John Ions says flows in the quarter were positive despite “increased caution” among investors about UK equities as a result of the period before and after the EU referendum.
Ions says: “We do not know at this stage when negotiations for Brexit will begin or what Brexit may look like. What we do know is that people will still need to save and will continue to need good quality fund managers to help them achieve their financial objectives.
“During such political, economic and market uncertainty, our rigorous and repeatable processes stand us in good stead with our investors. We are also focused on providing regular, targeted and helpful communication to all our clients to help steer them through this volatile period.”