Liontrust sales move positive for first time since 2004

Liontrust Asset Management has announced positive net sales of £79m, the first time since 2004 net sales have been positive over a financial year.

The company, delivering its trading update from April last year to the end of March 2011, said net sales for the current quarter to date had come in at £39m.

It is the third quarter in a row when the company has reported positive net sales.

The group says: "The positive net sales for the period are £79m, the first time since the financial year ended 31 March 2004 the company has been in a net positive sales position over a financial year."

The firm's assets under management stand at £1.3bn at the end of March.

Liontrust says it is confident it can continue the positive trend.

It says: "There is growing demand from retail investors for developed market equities. The company is well positioned to take advantage of this development given Liontrust's range of European and UK equity funds, with consistently strong performance across the former."