View the article online at http://citywire.co.uk/wealth-manager/article/a757745
Liontrust doubles profits on 19% AUM surge
by James Phillipps on Jun 19, 2014 at 08:25
Liontrust Asset Management saw profits more than double after four consecutive quarters of net inflows that swelled assets under management by 19% to £3.6 billion.
The fund group reported adjusted pre-tax profits of £8.4 million over the year to the end of March, up 122% from £3.8 million the previous year. Pre-tax profits were £3.7 million, reversing last year's £3.9 million loss with this figure including £4.7 million of costs, which in part relate to the acquisition of North Investment Partners and its multi-asset team.
Chief executive John Ions (pictured) said: It has been a very successful year for Liontrust. Among the highlights are assets under management increasing by 19% to £3.6 billion, a further four quarters of net inflows, adjusted profit before tax rising 122% to £8.4 million, adjusted operating margin increasing by 51% to 30%, net cash growing 55% to £12 million and revenues increasing 39%.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
On the road
on Aug 01, 2014 at 12:55