Liontrust roars to £300m more in fund assets

 
Michael Bow
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LIONTRUST, the FTSE listed money manager, yesterday said it had tripled the amount of cash it pulled into funds in the last quarter versus the same period a year ago.

The stock-picking firm, which is led by former Societe Generale unit trust boss John Ions, said it lured £302m more into its fund between the start of April and the end of June. In the same period in 2012 it raised £92m.

“It is particularly pleasing to have maintained positive net sales given the recent volatility in equity and fixed income markets,” Ions said.

It meant the group’s funds under management grew to £3.27bn, up 7.4 per cent over the quarter, with UK retail fund flows accounting for most of the rise with £134m flowing into its array of retail funds.

This is the 12th consecutive quarter that money has flowed into Liontrust funds, the company said.

“We are very encouraged to see that momentum continues to build in net fund in-flows,” Cantor Fitzgerald analyst Catherine Heath said.

Shares in the company, which have risen 105 per cent over the year hitting a high of 197p, rose half a per cent to close at 191p.