Liontrust Asset Management has seen its AUM grow to £3.6bn by the end of 2013 as the takeover of North Investment Partners helped counter outflows in the final quarter.
The group said in a trading update total AUM had risen 6% in the final quarter to finish the year at £3.57bn. The final quarter saw the business acquire John Husselbee's business, a deal that delivered an additional £123m of net inflows and helped counter a number of redemptions. Excluding the deal, the business saw net outflows of £73m in total, following a £106m redemption from a single investor in the Liontrust Global Strategic Bond Fund and a £39m redemption from an institutional investor redeeming from the group's UK retail funds. Nonetheless, thanks to the North takeover Lion...
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