Net inflows remained positive at £492m through Q4 and a further £136m in the first week of FY21e. However, in Q4, net inflows only served to dampen the impact of falling markets (-£3.5bn). Liontrust outperformed. We mark our forecasts to the AuM update, but retain our assumptions, which results in a -6% part period impact to FY20e EPS, but more material reduction in outer years: -25% FY21e and –19% FY22e.
15 Apr 2020
Q4 AuM –16% yet outperforming market and inflows
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Q4 AuM –16% yet outperforming market and inflows
Liontrust Asset Management PLC (LIO:LON) | 642 0 0.0% | Mkt Cap: 416.9m
- Published:
15 Apr 2020 -
Author:
Andrew Watson -
Pages:
3
Net inflows remained positive at £492m through Q4 and a further £136m in the first week of FY21e. However, in Q4, net inflows only served to dampen the impact of falling markets (-£3.5bn). Liontrust outperformed. We mark our forecasts to the AuM update, but retain our assumptions, which results in a -6% part period impact to FY20e EPS, but more material reduction in outer years: -25% FY21e and –19% FY22e.