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Liontrust passes £3.5bn on £200m inflow

Liontrust passes £3.5bn on £200m inflow

Inflows of nearly £200 million in the fourth quarter of 2013 helped ease Liontrust’s assets under management past the £3.5 billion mark.

Liontrust now manages £3.6 billion, up 6% from the end of September, with £2.5 billion of that held in UK retail funds.

The group noted that within the aggregate growth, the loss of two low-mandate institutional mandates had been almost offset by the acquisition of John Husselbee’s multi-asset team from North. Excluding these one-off events, though, flows were also positive.

It was a tough period for some of the firm's strategies, however, as funds including the flagship £1.1 billion Liontrust Special Situations run by Citywire AA-rated Anthony Cross and Julian Fosh slipped into their sectors' fourth quartiles on a one-year view. Special Situations nevertheless remains in the top quartile over three and five years.

‘Fund performance in 2013 was not as strong on a relative basis due to the impact of QE in boosting lower quality stocks,’ commented John Ions, Liontrust’s chief executive.

‘Our investment processes have proved their ability to deliver attractive returns to our investors over the long term and we continue to believe that this strict adherence to process will be rewarded as QE is withdrawn and there is a return to an increased focus on company fundamentals.’

He commended too the return of the Citywire Selection Liontrust Macro Equity Income fund, managed by Stephen Bailey and Jan Luthman, to Sanlam's White List after a year of first-quartile performance.

Ions (pictured) confirmed that he expected Liontrust’s profits to be in line with market expectations.

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Anthony Cross
Anthony Cross
82/155 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 52.64%
Julian Fosh
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83/155 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 52.64%
Stephen Bailey
Stephen Bailey
55/72 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 48.15%
Jan Luthman
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56/72 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 48.15%
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