London based asset manager Liontrust saw profits soar in the first half of the year with assets under management now totalling £36.5bn.
In the six months to September 2021, profit before tax clawed its way to £31.1m from £6.9m last year, an increase of 352 per cent. Net inflows were lifted £2.1bn amid the return to face-to-face investment meetings with clients while assets under management and advice totalled £35.7bn by the end of the period, up by 15 per cent since the start of the financial year and 73 per cent year-on-year.
John Ions, the company’s chief executive revealed that strong growth has continued into Q3: “we have maintained this momentum into the new quarter of our financial year, with Liontrust’s AuMA reaching £36.5 billion on 26 November.
“The latest industry sales statistics reiterate Liontrust’s continued success. In the third quarter of 2021, Liontrust had the second highest net retail sales in the UK. The same report showed that Liontrust had the fifth highest gross retail sales in the UK over the same three-month period,” he added.
King of the jungle Liontrust treated investors to a bumper payout of 57p per share, up from 31p a year prior. The first interim dividend payment was issued at 22p per share.
The company said that it was integrating virtual communications with clients into its longterm strategy to help sustain growth. Liontrust has generated 66,000 views on recent investment videos and has grown website traffic by 77 per cent between the third quarters of 2020 and 2021.
Shares have jumped 3.67 per cent today on the back of the results.