The acquisition of Argonaut’s European Income business is due to push Liontrust’s AUM over the £5bn when it completes next month, as it reports assets under management increased 7 per cent to £4.8bn compared to £4.5bn in 2015.
In April, the group announced the purchase of Argonaut’s European income business, which is expected to increase assets by £293m taking AUM to more than £5bn.
Profits before tax were £9.4m for the year ended 31 March, up 29 per cent from £7.3m in 2015.
Performance fee revenues rose 56.8 per cent to £7.4m from £3.2m a year earlier. Total revenues were £45m, up 22 per cent from £37m in 2015.
Liontrust has also announced that Adrian Collins will transition from executive to non-executive chairman at the firm’s AGM in September.
Chief Executive John Ions says: “We have delivered another year of growth for our shareholders, both through the continued expansion of the business and our financial results.
“We broadened further our fund management capability during the financial year through the new Global Equity team and doubling the size of the Economic Advantage team.”