Liontrust has reported a 54% increase in revenues year-on-year to 31 March, though still posted a loss of £200,000 after tax.
Chief executive John Ions said it had been a year of “good progress” for the once-troubled asset manager which, on an adjusted pre-tax basis, has returned to profitability (£1m).
As of 18 June, assets under management stood at £2.1bn while net inflows for the reporting period were up to £152m, from £81m last year.
“This has extended our sequence of net positive sales to seven successive quarters and net inflows have continued into the new financial year: in the current quarter from 1 April 2012 to 18 June 2012, Liontrust has recorded net inflows of £94m,” added Ions.
Recent acquisitions of Occam and Walker Crips Asset Managers have been credited as broadening Liontrust’s fund range and distribution capability, while the vast majority of the firm’s unit trusts outperformed their respective IMA sectors over the year.
Ions maintained his confidence that the business will continue on the growth path: “We have one of the strongest ranges of UK equity funds and teams, we have broadened into Asia and emerging markets equities, we have expanded our sales capability in the UK and internationally and we are well positioned for the changes to the distribution market following the implementation of RDR.”