Asset manager Liontrust posted a 64 per cent surge in pre-tax profits today after bucking the outflows seen across the sector in the past year.
Adjusted pre-tax profits hit £96.6m after net inflows hit £2.5bn, while assets under management hit £33.5bn at the end of March.
Boss John Ions said the past years’ results showed thefirm’s strategy was paying off.
“Over the past 13 years, we have successfully grown Liontrust by seeking to deliver discipline and excellence in everything we do and focusing on long-term positive outcomes for our investors,” he said.
“The success of this approach is shown by our strong sales, growth in AuMA and profitability, and a 53 per cent increase in total dividends for the financial year.”
Assets under management were delivered a further lift in April after the acquisition of Majedie Asset Management, which completed on 1 April 2022, taking Liontrust’s total assets to £38.7bn.
Shareholders have seen a 59 per cent boost in earnings per share of 127.6 pence, up from 80.1p.