Liontrust's assets fall further in first quarter
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Liontrust Asset Management has seen a further decline in its assets under management continue in the first quarter of the year, down to £1.16 billion, according to a trading update released today.
As of March 24, the majority of the group’s total assets were held in the cashflow solution investment process, managed by Gary West and James Inglis-Jones.
Economic advantage, managed by Anthony Cross and Julian Fosh, has £245m of total assets under management.
Between January 1 and March 24, the group saw a total net outflow of £53m, comprising £19m on the institutional side and £36m of retail money.
In February Liontrust announced a raft of cost-cutting measures designed to save £2.5m annually, starting from the next financial year. This is proceeding in line with expectations, it says.
The firm’s preliminary results are set to be announced on June 16.
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