Liontrust roars ahead on sustainable fund flows
Shares in Liontrust Asset Management (LIO) jumped over 9% to a new all-time high of £12.20 last week after it revealed that net fund inflows had almost doubled in the nine months to 31 December compared with the same period a year ago.
Assets under management at the end of 2019 were £19.1bn compared with £11.2bn in 2018. Part of the increase was due to the acquisition of Neptune Asset Management in October, which brought in £2.7bn of assets, while the rest was due to the strong performance of its funds and a surge of new money.
Between April and December net inflows reached £2.2bn, almost twice as much as in the same period the previous year. Although the firm didn’t specify which funds attracted the most cash, it did reveal that its Sustainable Investment team is now managing over £5bn of customer funds.
Chief executive John Ions says: ‘While the retail market has primarily driven these sales, there is growing interest from institutional investors and we are optimistic about increasing flows from non-UK investors. As we enter a new decade, we anticipate the strong momentum behind sustainable investment at the end of the last year will accelerate.’