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Liontrust Asset Management PLC on Wednesday noted a turn to net outflows in the last quarter of calendar 2022, citing a ‘year of negative investor sentiment’ amid ongoing macroeconomic and geopolitical issues.
The London-based asset manager reported net outflow of £632 million in the three months to December 31, Liontrust’s financial third quarter, swung from net inflow of £832 million a year before.
Assets under management & advice as of December 31 were £32.61 billion, down 12% from £37.2 billion a year prior. Versus the start of the quarter on October 1, AuMA was up from £31.70 billion, as market performance was positive £1.55 billion in the recent three months.
Since December 31, AuMA has grown by 3.6% to £33.8 billion as of Monday.
Chief Executive Officer John Ions said: ‘The challenges of the past year have created further opportunities for financially robust asset managers with strong distribution and brands. The quality of Liontrust’s fund management processes and teams, client service, sales and marketing gives me great confidence that we can take advantage of these opportunities.’
Liontrust Asset Management shares were 1.2% lower at 1,202.00 pence each in London on Wednesday morning.
By Tom Budszus, Alliance News reporter
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