Liontrust
Asset
Management
(LIO)
on
Wednesday
acknowledged
that
is
core
investment
strategies
have
been
“out
of
favour”
due
to
high
interest
rates
globally.
In
a
trading
update
covering
the
financial
year
to
March
31,
2024,
the
London-listed
fund
manager
said
that
its
core
strategies
such
as quality
growth,
small/mid-caps
and
UK
equities
funds
have
struggled
in
the
high
interest
rate
envirobment.
But
chief
executive
officer
John
Ions
pointed
to
inflows
into
its
European
Dynamic
fund
as
well
as
the
performance
of
its
Global
Technology
fund
and
its
sustainable
investing
strategies.
He
added
that
“as
market
sentiment
changes,
Liontrust
is
well
positioned
to
benefit”.
Liontrust
Yearly
Net
Outflows
It
reported
net
outflows
of
£1.21
billion
in
the
fourth
quarter
of
its
financial
year,
which
ended
on
March
31.
This
left
assets
under
management
and
advice
(AUMA)
down
12%
on
a
year
before
at
£27.8
billion.
Compared
to
December
31,
AUMA
was
marginally
higher,
thanks
to
£1.22
billion
in
positive
market
and
investment
performance.
AUMA
has
slipped
marginally
since
start
of
the
new
financial
year,
down
to
£27.6
billion
as
of
Friday
last
week.
Liontrust
suffered
£3.21
billion
in
net
outflows
in
the
first
half
of
its
financial
year
and
£1.66
billion
worth
in
the
third
quarter,
meaning
net
outflows
exceeded
£6
billion
in
its
recent
financial
year.
In
August,
Liontrust
admitted
that
its
offer
to
buy
Zurich-based
peer
GAM
Holding
AG
had
been
unsuccessful
as
it
was
supported
by
only
a
third
of
GAM
shareholders.
Liontrust
shares
were
up
nearly
7%
to
681p
pence
early
Wednesday
in
London.
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