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£900M outflows at Liontrust

Liontrust has seen £924m of net outflows in the last six months.

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.”


New role for Wood at Paternoster

Paternoster chief executive Mark Wood has stepped down to become deputy chairman, with commercial director Ed Jervis taking the role. Shareholders will inject £5m into the firm.

How you’ve grown

As explained in last week’s article on the child trust fund, the initial payment of £250 is made to the CTF for all children born on or after September 1, 2002, with the top-up being made on their seventh birthday. Children who have their seventh birthday from September 1, 2009 onwards will receive the second £250 payment made directly into their CTF account.

Contributing factors

I hear that I might lose the tax relief on my pension contributions soon. Should I be putting more money away now while I can?


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