Year End Trading Statement
Embargoed until 0700 hours, 21 March 2007
Liontrust Asset Management PLC
("Liontrust", "the Group" or "the Company")
Year End Trading Statement
Liontrust Asset Management PLC, the specialist equities fund management group,
today announces a trading update for its financial year ending 31 March 2007.
On 21 March 2007 funds under management stood at £5.509 billion, an increase of
9% from the £5.074 billion at the Company's year end of 31 March 2006. A net £
119 million of institutional assets were withdrawn in the financial year to
date. We saw net redemptions in our unit trusts amounting to £13 million in the
financial year to date but gross sales averaged a healthy £28 million per month
during the year.
Performance fees of £2.772 million were earned on seven institutional accounts
in the year and these fees generated an operating profit, after compensation,
of approximately £1.248 million. By comparison the operating profit
contribution from performance fees in 2006 was £30,000. All institutional
mandates with performance fee structures are based on either the Large Cap or
Growth investment processes.
The preliminary announcement of the Group's results of the year ended 31 March
2007 will be released towards the end of May 2007.
Commenting, Nigel Legge, Chief Executive, said:
"We have made good progress over the last year, bedding down our new European
investment team, establishing the new investment process for European equities,
creating new funds for it with promising performance and reaction to date. The
performance of our UK portfolios is healthy and makes us optimistic about the
prospects for fund flows in the medium term."
For further information please contact:
Liontrust Asset Management PLC 020 7412 1700
Nigel Legge
Vinay Abrol
Altium 020 7484 4040
Garry Levin
Nick Tulloch
Smithfield 020 7360 4900
Reg Hoare
Miranda Good
Latest directors dealings
- 1 hour ago Oxford Nanopore Technologies
- 1 hour ago AVI Global Trust
- 2 hours ago LSL Property Services
- 2 hours ago Bluebird Merchant Ventures (DI)
- 2 hours ago Power Probe PLC