Liontrust reports higher profits and AUM amid 'challenging period' for fund groups

'Political uncertainty significantly exacerbated'

Liontrust has reported higher revenues and AUM for the half year to 30 September, despite overall fund flows being slightly lower than the same period last year, as chief executive John Ions noted the "challenging" conditions for fund groups.

In a report released this morning, AUM climbed £900m throughout the six months to close at £5.7bn on 30 September. This is also a significant increase from the £4.4bn reported for the same period a year ago. AUM was boosted by positive fund performance, with five funds reporting top quartile performance over a one-year period, and the acquisition of Argonaut's European Income business announced earlier this year. The group also reported an 18% increase in revenues to £22m for the period, which is compared to £18.7m in 2015. Adjusted profit before tax was also 16% higher than last y...