Chairman's Statement
Liontrust Asset Management PLC
11 July 2000
Liontrust Asset Management PLC 2000 Annual General Meeting.
Chairman's Statement.
The following is the Statement delivered by Chairman Ellen
Winser at the 2000 Annual General Meeting, held at The
Savoy, London WC2 at 10 am on Tuesday 11th July 2000:
'As I said in my statement in the Annual Report and
Accounts, our last year was very significant for us. We
successfully floated the company, we increased our profits
sharply and we paid off all our debt. We therefore now have
a solid platform on which to build in the current year and
in the future.
So far the current year is going well. Our policy of
concentrating on doing relatively few things well continues
and I am pleased to say that we have won a number of new
accounts, for which we are currently finalising management
contracts. Total funds under management on Friday, 7th July,
amounted to £1.117 billion. We are being invited to pitch
for an increasing number of funds by a widening group of
actuaries and other professional advisers. Our pipeline of
potential new business has never been higher but I hasten to
point out that an invitation to pitch is a long way from
actually winning the account.
Our core business has advanced in line with our
expectations. Performance across our 3 proprietary
investment processes continues to be satisfactory although
it is far too soon to estimate the impact of performance
related fees this year. However we can announce that
performance fees due and collectable in the current year
already amount to over £250,000 (net of compensation costs
using the compensation formula as set out in our July 1999
Prospectus). We look forward to the future with confidence.'
Notes for Editors
Liontrust Asset Management PLC is the holding company of a
specialist UK equities fund management group providing
process driven portfolio management services to a range of
funds which are targeted primarily at professional investors
and advisers. Liontrust currently manages over £1 billion in
segregated and pooled pension fund accounts, own branded
unit trusts, investment trusts, offshore funds, personal
equity plans and externally managed funds on behalf of over
10,000 investors.
For further information please contact:
Liontrust Asset Management PLC Nigel Legge 020-7412 1700
HSBC Investment Bank plc John Mellett 020-7549 7052
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