EMBATTLED asset manager Liontrust showed a hint of revival yesterday, revealing that it pulled in £108m of new client money in the five months to 1 February.
Assets under management (AUM) at the company also grew 15.9 per cent to £1.3bn during the period, reflecting £76m of net sales in the three months to 1 December and a further £32m of new business in the first month of 2011.
The gradual return to strength for Liontrust comes after two difficult years, when two star managers responsible for 90 per cent of the company’s then £3.4bn AUM departed.
Jeremy Lang and William Pattison walked out in January 2009, which led to continual net outflows at the asset manager until September last year. Liontrust said it was confident the recovery would continue, boosted by the long-term performance prospects for its funds following a period of restructuring.
Chief executive John Ions said: “Liontrust has made significant progress over the last year. The restructuring of the business, the raising of the profile and the continued strong fund performance have been the foundations of this success.
“The outlook remains positive.”