London-based Liontrust Asset Management has said it plans to cut more jobs after revealing net outflows of £1.6bn for the last quarter of 2024.
The UK-listed company has also increased a savings target of £4.5m, announced in November when it said it would cut 25 jobs (around 12% of its workforce), to £6m a year.
In a trading update to the London Stock Exchange, the company said that assets under management and advice (“AuMA”) fell 5.3% over the quarter to £24.6bn
Chief executive John Ions said: “Liontrust and other active managers are still facing external headwinds, but we believe the impact will lessen over the course of 2025. The Group continues to make good progress towards our strategic objectives and there is increasingly strong fund performance.”
Almost half of the net flows were concentrated in October, which Ions said mirrored “the broader UK funds industry which experienced its third worst month on record ahead of the Chancellor’s Autumn Budget”.
Ions added that ten of Liontrust’s UK-domiciled funds (with a combined AuMA of £8.5bn) would adopt the FCA’s “Sustainable Focus” label.
“Improving trust and transparency of sustainable investment funds will play a key role in clients’ decision making,” he said.
“Clients will benefit from Liontrust having one of the broadest fund ranges with SDR labels, comprising equity, fixed income and managed funds.”
