Liontrust profits set to beat market expectations despite £4.8bn outflows

Majedie acquisition tempers AUM fall

James Baxter-Derrington
clock • 2 min read

Liontrust is set to deliver profits beyond market expectations, despite recording net outflows of £4.8bn for the 12 months to 31 March 2023.

In a trading update released this morning (19 April), the firm revealed an expected adjusted profit before tax of "not less than £86m". This comes amid net outflows of £3.8bn over the year, of which £2bn was withdrawn in the past three months. Liontrust 'in discussions' to buy GAM However, the net outflows were more than covered by Liontrust's acquisition of Majedie, which saw £5.1bn of assets under management and advice added. Combined with negative market and investment performance of £2.4bn, Liontrust AUMA shrank 6.3% to £31.4bn over the 12-month period. Sustainable invest...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

AUM drops by 5%

Valeria Martinez
clock 12 July 2024 • 1 min read
Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Multi-asset fund outflows continue to bite

Valeria Martinez
clock 12 July 2024 • 2 min read
GAM sells management company arm to Apex Group

GAM sells management company arm to Apex Group

UK, Luxembourg and Ireland operations

Cristian Angeloni
clock 11 July 2024 • 1 min read
Trustpilot