Liontrust Asset Management has doubled assets under management (AuM) over the last 12 months on the back of nine successive quarterly inflows and the acquisition of Walker Crips and has its eye of further buy opportunities.
AuM at the boutique has jumped from £1.19 billion on 30 September 2011 to £2.36 billion at the end of September 2012. This was helped by a tripling of net inflows over the period, rising from £59 million to £189 million, driving a 59% increase in revenue. The purchase of Walker Crips Asset Managers in April brought across £581 million worth of assets.
Overall Liontrust posted pretax loss of £4 million, which factors in £4.9 million worth of costs relating to the acquisition of Walker Crips AM. Adjust profit stood at £0.9 million, an increase from the £22,000 in the previous year.
Investors have been drawn to Liontrust’s range of top performing funds, which includes the Liontrust Special Situations, UK Smaller Companies, European Growth and Macro Equity Income funds, which have all been top quartile performers over the last five years.
Liontrust chief executive John Ions (pictured) indicated his firm had its eye on further buy opportunities in a statement to the London Stock Exchange accompanying the results. ‘Fund management companies face many challenges ahead which I believe will create excellent opportunities for groups with clear focus and strategy,' Ions said.
‘We will continue to recruit high quality fund management talent to enhance and diversify further our current capability when the opportunity arises whilst building on our strong organic momentum.’