Liontrust has blamed market volatility for a 7% fall in its assets under management in the second quarter.
The group said market movements had caused its AUM to drop from £1.3bn to £1.2bn as of 30 June. Its UK retail funds saw outflows totalling £75m, institutional funds lost £5m and offshore funds lost £7m in the second quarter of the year, but the group reported an overall net inflow. Net sales for the quarter totalled £13m, excluding outflows from its credit arm following the announcement of its sale on 13 April. The company has reported positive net sales for the fourth quarter in a row now, it said. "The past few weeks have been a challenging period for fund managers but Liontru...
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