Trading Statement
Summary by AI BETAClose X
LEI: 549300XVXU6S7PLCL855
For immediate release
14 January 2026
LIONTRUST ASSET MANAGEMENT PLC
Trading Update
Liontrust Asset Management Plc ("Liontrust" or the "Company"), the specialist independent fund management group, today issues its trading update for the three months ended 31 December 2025 (the "Period").
· Net outflows of £1.0 billion in the Period (2024: £1.6 billion).
· Assets under management and advice ("AuMA") were £21.5 billion as at 31 December 2025.
· Two mandate wins driving Institutional net inflows of £330 million in the Period.
· AuMA as at 10 January 2026 were £21.7 billion.
Commenting, John Ions, Chief Executive Officer, said:
"Liontrust received funding for two new mandates in the last quarter, leading to Institutional net inflows of £330 million in the Period. We have a good potential pipeline and are focused on securing further mandates and returning to positive net inflows for the UK's wholesale and retail markets.
The brand remains strong, as shown by the fact that Liontrust is rated as the 4th best asset manager by advisers in the UK and 8th best by wealth managers in independent research1. The excellent client relationships and brand reputation that Liontrust has across the market are the foundation from which flows will grow over time.
The broadening investment capability is shown by the fact that we had success in European equities in 2025 and have delivered first quartile performance across global equity, fixed income and multi-asset funds in the past one and three years2.
Quality, mid and small cap stocks with strong balance sheets, which are the mainstay of the Economic Advantage and Sustainable Investment funds, have historically delivered material long-term returns. As engines of innovation and employment, they have also been key to driving economic growth. UK valuations are compelling, especially with a backdrop of lower inflation and reducing interest rates, but a prolonged period of share price underperformance has raised threats to the country's competitiveness. Co-ordinated action is required to restore confidence, and this will also unlock capital flows.
Our confidence in the outlook for Liontrust is reflected in the investment made in the business and the ongoing share buy backs. In ensuring that we deliver for clients through disciplined, long-term active management and excellent client service and communications, we can return the business to growth."
1 Source: Research in Finance, December 2025
2 Source: Financial Express to 31 December 2025 as at 5 January 2026, bid-bid, total return, net of fees, based on primary share class.
Assets under management and advice
On 31 December 2025, our AuMA stood at £21,457 million and were broken down by type and investment process as follows:
|
Process |
Total |
Institutional Accounts |
Investment Trusts |
UK Retail Funds & MPS |
Alternative Funds |
International Funds |
|
|
(£m) |
(£m) |
(£m) |
(£m) |
(£m) |
(£m) |
|
Sustainable Investment |
7,187 |
342 |
- |
6,654 |
- |
191 |
|
Multi-Asset |
3,887 |
- |
- |
3,696 |
59 |
132 |
|
Cashflow Solution |
3,756 |
874 |
- |
2,244 |
214 |
424 |
|
Economic Advantage |
2,810 |
469 |
- |
2,311 |
- |
30 |
|
Global Fundamental |
1,752 |
208 |
1,143 |
401 |
- |
- |
|
Global Equities |
1,142 |
- |
- |
1,064 |
26 |
52 |
|
Global Innovation |
923 |
- |
- |
907 |
- |
16 |
|
Total |
21,457 |
1,893 |
1,143 |
17,277 |
299 |
845 |
AuMA as at 10 January 2026 were £21,713 million.
Flows
The net outflows over the Period were £1,024 million (2024: £1,553 million). A reconciliation of fund flows and AuMA over the Period is as follows:
|
|
Total |
Institutional Accounts |
Investment Trusts |
UK Retail Funds & MPS |
Alternative Funds |
International Funds |
|
|
(£m) |
(£m) |
(£m) |
(£m) |
(£m) |
(£m) |
|
|
|
|
|
|
|
|
|
Opening AuMA - 1 Oct 2025 |
22,010 |
1,514 |
1,162 |
18,230 |
315 |
789 |
|
|
|
|
|
|
|
|
|
Net flows |
(1,024) |
330 |
(36) |
(1,293) |
(27) |
2 |
|
|
|
|
|
|
|
|
|
Market & Investment performance |
471 |
49 |
17 |
340 |
11 |
54 |
|
|
|
|
|
|
|
|
|
Closing AuMA - 31 Dec 2025 |
21,457 |
1,893 |
1,143 |
17,277 |
299 |
845 |
Key Fund Performance (Quartile ranking)
Twelve funds in the first or second quartile over 1 and 3 years:
1. Five Fixed Income funds - SF Monthly Income Bond, SF Corporate Bond, Strategic Bond, GF High Yield Bond and MA Monthly High Income.
2. Three European funds - European Dynamic, GF European Smaller Companies and GF European Strategic Equity.
3. Four Global funds - Global Innovation, Global Technology, Global Alpha and Balanced.
UK domiciled funds-
|
|
Quartile ranking - Since inception |
Quartile ranking - 5 year |
Quartile ranking - 3 year |
Quartile ranking - 1 year |
Inception Date |
|
Cashflow Solution funds |
|||||
|
Liontrust European Dynamic Fund |
1 |
1 |
2 |
1 |
15/11/2006 |
|
Economic Advantage funds |
|
|
|
|
|
|
Liontrust Special Situations Fund |
1 |
4 |
4 |
4 |
10/11/2005 |
|
Liontrust UK Growth Fund |
2 |
3 |
4 |
4 |
01/04/1996 |
|
Liontrust UK Micro Cap Fund |
1 |
2 |
4 |
3 |
09/03/2016 |
|
Liontrust UK Smaller Companies Fund |
1 |
4 |
4 |
4 |
08/01/1998 |
|
Liontrust Global Smaller Companies Fund |
4 |
4 |
4 |
4 |
31/12/2007 |
|
Sustainable Future funds |
|||||
|
Liontrust SF Cautious Managed Fund |
3 |
4 |
4 |
4 |
23/07/2014 |
|
Liontrust SF Corporate Bond Fund |
3 |
3 |
1 |
1 |
19/02/2001 |
|
Liontrust SF Defensive Managed Fund |
2 |
4 |
4 |
4 |
23/07/2014 |
|
Liontrust SF European Growth Fund |
4 |
4 |
4 |
4 |
19/02/2001 |
|
Liontrust SF Global Growth Fund |
3 |
4 |
3 |
4 |
19/02/2001 |
|
Liontrust SF Managed Fund |
2 |
4 |
4 |
4 |
19/02/2001 |
|
Liontrust SF Managed Growth Fund |
2 |
4 |
3 |
4 |
19/02/2001 |
|
Liontrust SF Monthly Income Bond Fund |
1 |
2 |
1 |
1 |
12/07/2010 |
|
Liontrust SF UK Growth Fund |
3 |
4 |
4 |
4 |
19/02/2001 |
|
Liontrust UK Ethical Fund |
4 |
4 |
4 |
4 |
01/12/2000 |
|
Global Innovation funds |
|||||
|
Liontrust Global Dividend Fund |
2 |
3 |
1 |
3 |
20/12/2012 |
|
Liontrust Global Innovation Fund |
1 |
3 |
1 |
2 |
31/12/2001 |
|
Liontrust Global Technology Fund |
3 |
2 |
1 |
2 |
15/12/2015 |
|
Global Equity funds |
|||||
|
Liontrust Balanced Fund |
1 |
2 |
1 |
1 |
31/12/1998 |
|
Liontrust China Fund |
4 |
3 |
4 |
4 |
31/12/2004 |
|
Liontrust Emerging Market Fund |
3 |
4 |
3 |
3 |
30/09/2008 |
|
Liontrust Global Alpha Fund |
1 |
3 |
1 |
2 |
31/12/2001 |
|
Liontrust India Fund |
4 |
1 |
3 |
4 |
29/12/2006 |
|
Liontrust Japan Equity Fund |
4 |
3 |
3 |
4 |
22/06/2015 |
|
Liontrust Latin America Fund |
2 |
4 |
3 |
4 |
03/12/2007 |
|
Liontrust US Opportunities Fund |
2 |
3 |
3 |
1 |
31/12/2002 |
|
Global Fundamental funds |
|
|
|
|
|
|
Liontrust Income Fund |
2 |
3 |
4 |
4 |
31/12/2002 |
|
Edinburgh Investment Trust Plc |
1 |
1 |
2 |
4 |
31/03/2020 |
|
Liontrust UK Equity Fund |
1 |
3 |
3 |
4 |
27/03/2003 |
|
Multi-Asset funds |
|
|
|
|
|
|
Liontrust Strategic Bond Fund |
3 |
3 |
2 |
2 |
08/05/2018 |
|
Liontrust MA Explorer 35 Fund |
1 |
- |
- |
3 |
31/12/2002 |
|
Liontrust MA Explorer Income 45 Fund |
3 |
- |
- |
4 |
31/03/2020 |
|
Liontrust MA Explorer Income 60 Fund |
2 |
- |
- |
3 |
27/03/2003 |
|
Liontrust MA Explorer 70 Fund |
3 |
- |
- |
4 |
29/09/2003 |
|
Liontrust MA Explorer 85 Fund |
2 |
- |
- |
4 |
29/09/2003 |
|
Liontrust MA Explorer 100 Fund |
2 |
- |
- |
3 |
29/09/2003 |
|
Liontrust MA Monthly High Income Fund |
3 |
3 |
1 |
1 |
01/05/2012 |
|
Liontrust MA UK Equity Fund |
4 |
3 |
3 |
3 |
12/11/2001 |
Irish domiciled funds-
|
|
Quartile ranking - Since inception |
Quartile ranking - 5 year |
Quartile ranking - 3 year |
Quartile ranking - 1 year |
Inception Date |
|
Cashflow Solution funds |
|||||
|
Liontrust GF European Smaller Companies Fund |
1 |
1 |
1 |
2 |
01/02/2017 |
|
Liontrust GF European Strategic Equity Fund |
1 |
1 |
1 |
2 |
25/04/2014 |
|
Liontrust GF Pan-European Dynamic Fund |
2 |
- |
- |
2 |
27/02/2024 |
|
Economic Advantage funds |
|
|
|
|
|
|
Liontrust GF Special Situations Fund |
3 |
4 |
4 |
4 |
08/11/2012 |
|
Liontrust GF UK Growth Fund |
2 |
3 |
4 |
4 |
03/09/2014 |
|
Sustainable Future funds |
|||||
|
Liontrust GF SF European Corporate Bond Fund |
2 |
1 |
1 |
3 |
29/05/2018 |
|
Liontrust GF SF Global Growth Fund |
3 |
4 |
3 |
4 |
12/11/2019 |
|
Liontrust GF SF Multi Asset Global Fund |
4 |
- |
3 |
4 |
13/10/2021 |
|
Liontrust GF SF Pan-European Growth Fund |
3 |
4 |
4 |
4 |
14/03/2001 |
|
Liontrust GF SF US Growth Fund |
4 |
- |
- |
4 |
07/07/2023 |
|
Multi-Asset funds |
|
|
|
|
|
|
Liontrust GF Global Short Dated Corporate Bond Fund |
3 |
3 |
3 |
3 |
26/06/2018 |
|
Liontrust GF High Yield Fund |
1 |
1 |
1 |
1 |
08/06/2018 |
|
Liontrust GF Global Corporate Bond Fund |
2 |
2 |
2 |
3 |
13/04/2018 |
Global Equity
|
Liontrust GF Global Alpha Long Short Fund |
1 |
3 |
2 |
3 |
24/02/2014 |
Source: Financial Express to 31 December 2025 as at 5 January 2026, bid-bid, total return, net of fees, based on primary share
class.
Past performance is not a guide to future performance, investments can result in total loss of capital. The above funds are all UK authorised unit trusts, OEICs, Irish authorised OEICs (primary share class) or UK listed investment trusts. Onshore funds use the Financial Express Investment Association sectors. Offshore funds use the FCA Recognised offshore sectors. Edinburgh Investment Trust Plc uses the AIC Investment Trust UK Equity Income sector.
Liontrust Global Smaller Companies Fund moved from the Global Equities team to the Economic Advantage team on 14 January 2025.
The Liontrust GF Strategic Bond Fund changed name to the Liontrust GF Global Corporate Bond Fund on the 14th Nov 2025.
MA Explorer funds had an objective change on 05/04/2023 and rankings are shown from then.
MA Dynamic Passive fund range, MA Blended fund range, Diversified Real Assets Fund and Russia Fund (suspended) are not included as are in an IA sector that is not rankable. GF Global Technology, GF Global Innovation and GF Global Dividend funds are excluded because they were recently launched.
For further information please contact:
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.com)
Stephen Corbett: Head of Investor Relations
Simon Hildrey: Chief Marketing Officer
Panmure Liberum (Tel: 020 7886 2500)
Corporate Broking: David Watkins
Corporate Advisory: Atholl Tweedie
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Charles Leigh-Pemberton
Corporate Advisory: Asha Chotai
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of Liontrust. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that have not yet occurred. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. As a result, the Liontrust's actual future financial condition, results of operations and business and plans may differ materially from the plans, goals and expectations expressed or implied by these forward-looking statements. Liontrust undertakes no obligation publicly to update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules of the Financial Conduct Authority). Nothing in this announcement should be construed as a profit forecast or be relied upon as a guide to future performance.
Other information
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