UK wealth manager Liontrust's quarterly outflows narrow, but retail withdrawals persist

By Reuters News

Oct 21 (Reuters) - British fund manager Liontrust Asset Management LIO.L reported net quarterly outflows on Wednesday as persistent retail withdrawals outweighed stronger institutional demand.

  • Net outflows narrowed to £459 million ($613.6 million) in the second quarter from £1.24 billion a year earlier

  • Outflows from UK retail funds and model portfolios totalled £666 million, outweighing £209 million of inflows into institutional accounts

  • The asset manager benefited from investor rotation out of US equities, strong demand for its European strategies and expansion of its international distribution network

  • Assets under management and advice edged down to £24.06 billion from the previous quarter

  • Liontrust expects to add about £1.9 billion of assets from its Hawksmoor acquisition by year-end


($1 = 0.7481 pounds)

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