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Asset manager Liontrust (LIO) up 13% on soaring profits

By Jenni Reid

14:31, 1 December 2021

Liontrust Asset Management logo
The firm had £35.7bn assets under management and advice – Photo: Liontrust Asset Management

Liontrust Asset Management (LIO)’s share price spiked on the London Stock Exchange on Wednesday as the asset manager reported adjusted profit before tax increased 93% to £43.1m in the six months ended 30 September.

LIO stock was up 13.04% to 2,311.6p in early afternoon trading.

The London-based FTSE 250 firm said it increased profit before tax by 352% year-on-year to £31.1m, including acquisition and restructuring costs of £12.1m and other non-recurring payments.

The specialist fund manager previously reported profit before tax grew 116% to £34.9m for the full-year ended 31 March as it benefitted from interest in its Environmental, Soical and Governance (ESG) division and higher retail sales, while the global asset management industry saw strong net inflows during the coronavirus pandemic.

Liontrust’s net inflows over the six-month period totalled £2.1bn, up 19% from £1.7bn a year earlier. Net inflows for the 2021 fiscal year were £3.5bn, an increase of 30% year over year.

Strong first half

Today’s H1 2022 report also showed Liontrust increased adjusted diluted earnings per share to 56.94p from 30.74p.

EUR/USD

1.09 Price
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Long position overnight fee -0.0080%
Short position overnight fee -0.0003%
Overnight fee time 22:00 (UTC)
Spread 0.00010

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Short position overnight fee 0.0137%
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Spread 6.00

TSLA

239.02 Price
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Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.14

XRP/USD

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Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Management doubled the first interim dividend to 22p per share.

The firm had £35.7bn assets under management and advice on 30 September, a 73% increase since the start of the year.

“Liontrust has delivered another strong six months of sales and financial performance,” chief executive John Ions said.

“Our net inflows of £1bn and above for each of the last three quarters demonstrate the excellence of our investment teams, long-term performance, distribution, communications and power of the brand.”

Liontrust bought Architas’s UK investment business for £75m last year, which Ions said had created a significant multi-asset multi-manager proposition that the company had been able to pitch to clients face-to-face for the first time over the period.

Read more: Liontrust boosts shorts in stocks

Markets in this article

LIO
Liontrust Asset Management Plc
5.480 USD
-0.115 -2.140%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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