Liontrust Asset Management suffered £500m of net outflows in the three months to the end of June, it announced in a trading update today (19 July) as it also revealed the creation of a new investment team.
The majority of outflows came from UK retail funds and the company's MPS, which made up £337m, along with international funds and accounts, which amounted to £266m. Despite the outflows, the asset manager also experienced a rise in assets under management and advice thanks to the completion of its acquisition of Majedie. AUMA stood at £34.2bn at the end of June, up 2.1% over the financial year. This has risen slightly further since and was £34.5bn on 13 July John Ions, chief executive of the firm commented that it was a "challenging year for investors, especially those who have a bias...
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