Peel Hunt has restated its ‘Buy’ rating for Liontrust, after the asset manager reported a 6.3% drop to its assets under management and £1.6bn outflows for the third quarter of 2023.
In a research note, the investment bank said the company has been impacted by "difficult market conditions", which were exacerbated by the asset manager's reliance on UK retail clients. Peel Hunt analysts noted just under £1bn of total outflows for the quarter were attributed to the UK retail segment. They said Liontrust's AUM performance "compares relatively unfavourably" to its peers for the three-month period, but they noted the firm was not a "stand out", especially when compared to Ashmore or Premier Miton, which posted AUM drops of 7.5% and 6.3%, respectively, for the third quarter...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
