£900M outflows at Liontrust
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The company, which was hit by the departures of leading fund managers Jeremy Lang and William Pattisson earlier this year, has seen its total funds fall from £1.88bn to £1.27bn.
Institutional outflows accounted for £821m of the loss while retail and offshore outflows were £103m. They were partially offset by a £315m market movement in the half-year trading period between April 1 and September 22. Performance fees fell to £724,000 from £1.2m.
Liontrust has been looking to widen its fund range over the past couple of months.
It has launched a European absolute return fund and has commitments for global and regional funds after the appointment of Ross Hollyman and his team from GAM.
Chelsea Financial Services managing director Darius McDermott says: "Liontrust has struggled to stem the outflows due to the management departures but is looking to diversify a business that has traditionally been known for its UK offering."
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