Liontrust assets under management dive 60%

In its annual results to 31 March 2009, Liontrust revealed its funds under management were £1.9bn, down from £4.7bn last year, a fall of 60%, and subsequently dropped further to £1.2bn as at 9 June. Pre-tax profits fell 25% to £12.4m while the total dividend for the full year sits at 7.5p per share, down from 12.5p in 2008. The second interim dividend is 5p per share. More positively, the group says it has no debt and holds net cash and financial assets of £21.7m. In addition, performance fees have increased by 10% to £16.2m, up from £14.8m last year. "We start the year with substanti...