AuM declined by 7% to £31.7bn as £1.6bn net outflows were elevated due to a number of redemptions in ex-Majedie funds (c.50% total net outflows). Elsewhere, net outflows were modest relative to large strategies – indicative of no material change in client behaviour. AuM was lower than expected on net outflows and negative performance driving a 13% reduction to FY23e EPS (-20% outer years). On our reduced forecasts, PER remains only 8x FY23e with 9% yield. Even if uncertainty continues, this is n ....
19 Oct 2022
Q2 AuM -7% on impact from challenging conditions
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Q2 AuM -7% on impact from challenging conditions
Liontrust Asset Management PLC (LIO:LON) | 666 186.6 4.3% | Mkt Cap: 432.8m
- Published:
19 Oct 2022 -
Author:
Andrew Watson -
Pages:
3
AuM declined by 7% to £31.7bn as £1.6bn net outflows were elevated due to a number of redemptions in ex-Majedie funds (c.50% total net outflows). Elsewhere, net outflows were modest relative to large strategies – indicative of no material change in client behaviour. AuM was lower than expected on net outflows and negative performance driving a 13% reduction to FY23e EPS (-20% outer years). On our reduced forecasts, PER remains only 8x FY23e with 9% yield. Even if uncertainty continues, this is n ....