In its 2013 results, the London headquartered asset manager said it is “enhancing” its international offering through the launch of Dublin-based feeders on its Macro Equity Income, Asia Income, Global Income and UK Growth funds (click for factsheets).
The company also said it is looking to explore new business opportunities outside the UK. Chief executive John Ions said: “At present, 95% of our sales success has come from our domestic market but we see significant opportunities for distribution outside the UK.”
Despite announcing a fiercer push into international markets, it was in fact Liontrust’s offshore funds which dragged down flows during 2013, with £215m leaving its existing Dublin domiciled range during the year.
Otherwise, the company’s results were relatively strong in what was another testing year for financial markets. Liontrust said the last three months of the financial year saw inflows from UK retail clients of £160m, the best for 10 years, and said, in total, its assets under management increased by £574m to £3.6bn by the end of the year.
However, despite the boost in the last quarter from the UK retail business, net flows for the whole year were down to £381m, more than a quarter less than last year’s £514m.
Flows were also knocked by a hefty £196m redemption made by a single client from the Dublin domiciled Liontrust Global Strategic Bond Fund.
CEO Ions added: “Liontrust has a strong platform from which to grow. This has been achieved by having a clear focus and communicating a strong proposition to our clients.
“As we enter our new financial year, we are confident the long-term performance, spread of fund management talent, rigorous investment processes, distribution capability and positive brand awareness will enable us to continue our growth in assets under management and profitability.”
