View more on these topics

Liontrust assets plummet in difficult year

Liontrust saw its assets under management fall from 4.7 billion in 2008 to 1.2 billion as of yesterday, according to its final results released today.

Pre-tax profits fell by a quarter to 12.4m and basic earnings per share fell by the same degree to 28.3p. Meanwhile, performance fees increased 10% to 16.2m. However, Liontrust says it has no debt, with net cash on its balance sheet.

The chairman, Bernard Asher, described the year to March 31 as arguably the most difficult the group has ever faced. He said Liontrust will now be more dependent on sales and performance fees for revenue than has historically been the case.

He pointed to the firms disappointment to lose Jeremy Lang and William Pattisson in January, but said it was quick to announce succession plans for their funds. He also emphasised the companys intention to launch new products in the fixed income absolute return space in a bid to diversify away from British equities.

Asher is planning to step down as chairman, with Adrian Collins, a consultant to Strand Partners, joining to replace him.

Ian Lewis, formerly of New Star, was appointed the head of institutional clients.

Related story:
Liontrust puts Ilex recruits to work
Liontrust reveals Euro absolute return details



Rights and wrongs

I have been an IFA for 25 years and I still get endowment complaints for business written over 15 years ago via ambulance-chasing companies.

Martin Currie plans to add hedged share class

Martin Currie plans to adds a hedged sterling share class to its 500m North America fund as a way of reducing currency risk.The addition of the hedged share class follows changes made to the Coll (collective investment schemes) rulebook on March 6. This brought British rules into line with key European jurisdictions, namely Ireland and […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm