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Liontrust reports net sales of £13m

Liontrust has reported £13m of net sales in the second quarter of 2011.

The news marks the fourth successive quarter that the firm has reported positive sales. The group saw £101m of inflows, which was offset by £88m of outflows, with the figures excluding the business related flows of its credit business, which Liontrust announced it was to sell on April 13, 2011.

Total assets under management have fallen from £1,343bn to £1,309bn after the group sold the credit business for £85m. Since the end of the second quarter the group has reported a 7.1 per cent fall in assets under management due to the ongoing market volatility with assets under management standing at £1,216bn at August 16, 2011.

Performance fees in the second quarter stood at £128,000, down from the £151,000 in Q2, 2010.

Liontrust has recently announced it is to buy emerging markets specialist Occam in a bid to widen its fund offering.

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