Liontrust hit by £500m outflows as investor jitters spread
London-listed asset manager Liontrust revealed it had been hit by £500m of outflows in the three months to June today as investors continue to pull back from markets amid extreme volatility.
In a trading update today, Liontrust said outflows had hit £541m in total, with its UK retail funds and managed portfolio service haemorrhaging £337m and international funds and accounts losing £266m.
Assets under management expanded 2.1 per cent to £34.2bn in the past year however, buoyed by the acquisition of Majedie Asset Management in April which added £5.1bn to the overall figure.
Boss John Ions said it had been “a challenging year for investors”, with those who favoured growth stocks hit particularly hard by a cocktail of inflation, war in Ukraine and supply chain issues.
“Liontrust has not been immune to this environment in terms of both performance and net flows,” he added.
Outflows at Liontrust reflect wider withdrawal from funds in the past month as jitters continue to spread amid rising interest rates and soaring inflation.
Investors pulled £6.9bn from UK equity funds in June, according to data from Refinitiv. Total outflows from funds hit £10.5bn last month, with £2.8bn from mutual funds and ETFs shedding £29m.