Liontrust feeling positive

2nd Feb 2011 15:34

Fund manager Liontrust Asset Management saw assets under management at the end of 2010 rise 14.6% to £1,292m from the end-September level. As at 1 February, assets under management stood at £1,307m.The company saw positive net sales of £76m, the second quarter in a row that net sales had been positive. This brought total positive net sales from 1 July to 31 December 2010 to £86m. Positive net sales have continued into the final quarter of the financial year, reaching £32m for the period from 1 January to 1 February 2011. Positive net sales for the financial year to date were £73m."We are confident this upturn will continue because of the excellent long-term performance of our funds (five of Liontrust's seven Retail Funds are in the first quartile of their respective sectors since launch or the current fund managers started running the funds) and the more proactive, targeted and engaging sales and marketing strategy we have implemented," the company said. "We also believe we will benefit from greater investor interest in UK and European equities and managing long/short credit strategies in the current economic and market environment," it added.Performance fees of £816,000 were earned in the October to December period.