Peel Hunt reiterates Liontrust 'Buy' rating despite £1.6bn quarterly outflows

Not a ‘stand out’ among peers

Peel Hunt has restated its ‘Buy’ rating for Liontrust, after the asset manager reported a 6.3% drop to its assets under management and £1.6bn outflows for the third quarter of 2023.

In a research note, the investment bank said the company has been impacted by "difficult market conditions", which were exacerbated by the asset manager's reliance on UK retail clients. Peel Hunt analysts noted just under £1bn of total outflows for the quarter were attributed to the UK retail segment. They said Liontrust's AUM performance "compares relatively unfavourably" to its peers for the three-month period, but they noted the firm was not a "stand out", especially when compared to Ashmore or Premier Miton, which posted AUM drops of 7.5% and 6.3%, respectively, for the third quarter...