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Liontrust Asset Management PLC on Wednesday reported that its assets under management and advice fell amid a "challenging period for markets", as UK retail funds turned to outflow.
The London-based asset manager said AuMA decreased 5.5% to £31.7 billion at September 30 from £33.5 billion at March 31. Compared to £35.7 billion at September 30, 2021, this represents a 13% fall over the past 12 months.
As of October 14, AuMA was £31.2 billion, down 13% from £35.3 billion at October 8, 2021.
Liontrust reported net outflows of £1.65 billion in the quarter, swung from net inflows of £1.09 billion a year ago. UK Retail Funds & Managed Portfolio Service turned to an outflow of £1.00 billion from an inflow of £1.05 billion a year ago.
Market and investment performance was negative £905 million in the recent three months, including negative £641 million for UK Retail Funds & MPS.
"Despite the challenging period for markets and Liontrust that we have been experiencing this year, I am confident about the strengths of our business and the long-term value we can offer clients. We have rigorous processes across the business to enable us to achieve our long-term strategic objectives and create opportunities for growth," said Chief Executive John Ions.
He added: "Looking ahead, we will continue to focus on expanding our sales by funds, geographies and clients. With the excellence of our investment teams, distribution and brand, underpinned by our strong balance sheet, Liontrust is well positioned to generate future growth."
Liontrust shares were 1.5% lower at 814.00 pence each in London on Wednesday morning.
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