Liontrust

A new wave of outperformance for high yield debt plus a return to financing strategies seen pre-crisis have begun to alarm bond fund managers.

Liontrust managers Anthony Cross and Julian Fosh have said the ‘dash for trash' that characterised UK equity markets last year may be coming to an end.

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.

Investors looking at asset managers' shares should be buying into Jupiter, Schroders and Aberdeen this year, as major acquisitions and RDR continue to benefit the three businesses, according to JPM Cazenove analysts.

Consolidation has been the watchword in the asset management sector this year and, consequently, the structure of the funds industry is changing as rapidly as the City skyline.

QUICKFIRE Q&A

Liontrust has reported a 326% increase in adjusted pre-tax profit for the six months to 30 September and reintroduced an interim dividend.

FUND MANAGER FOCUS

Liontrust AM's chief executive John Ions expects John Husselbee's Wealth Solutions service to become a significant part of the business over the next few years, following the takeover earlier this month.

THE BIG QUESTION