Trading Statement
Liontrust Asset Management Plc reported a significant increase in assets under management and advice (AuMA) to £24.3 billion as of June 30, 2026, up from £19.6 billion at the end of the previous quarter, largely driven by the acquisition of River Global Holdings Limited which added £3.0 billion. The company experienced net outflows of £357 million during the period, a notable improvement from £1.1 billion in the prior year. The acquisition is expected to enhance investment capabilities and broaden distribution, with eight River Global funds already ranking in the top two quartiles over three years.
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Liontrust Asset Management Plc ("Liontrust" or the "Company" or the "Group"), the specialist independent active asset management group, today issues its trading update for the three months ended 30 June 2026 (the "Period").
- Assets under management and advice ("AuMA") were £24.3 billion as at 30 June 20261 (31 March 2026: £19.6 billion).
- AuMA as at 17 July 2026 were £24.0 billion1.
- Net outflows of £357 million in the Period (2026: £1.1 billion).
- The acquisition of River Global Holdings Limited ("RGH") completed on 30 June 2026 and added a further £3.0 billion to AuMA.
Commenting, John Ions, Chief Executive Officer, said:
"The acquisition of River Global has increased AuMA by £3 billion, taking AuMA to over £24 billion, and expanded our investment capabilities and styles, while enhancing the breadth and depth of our investment professionals. River Global has also added several strongly performing funds to the Group, including eight ranked in the first or second quartile of their respective sectors over three years2.
We are now in a stronger position to meet the evolving needs of investors globally and further broaden our distribution and provide clients with bespoke investment solutions. The integration of our fixed income teams earlier this year has already enhanced the management of existing strategies and created opportunities to offer new funds and mandates.
The growing strength of our global distribution, client engagement, marketing reach and brand is reflected in recent mandate wins and improving net flow trends. Combined with our broader investment capabilities, this leaves Liontrust well placed to capitalise on the opportunities ahead."
1 Excludes AuMA related to European Opportunities Trust Plc ("EOT"), where the board of EOT has announced a reconstruction.
2 Source: Financial Express to 30 June 2026 as at 15 July 2026, bid-bid, total return, net of fees, based on primary share
class.
Assets under management and advice
On 30 June 2026, our AuMA stood at £24,255 million (31 March 2026: £19,554 million) and were broken down by type and investment process as follows:
| Process | Total | Institutional Accounts | Investment Trusts 3 | UK Retail Funds & MPS | Alternative Funds | International Funds |
|---|---|---|---|---|---|---|
| (£m) | (£m) | (£m) | (£m) | (£m) | (£m) | |
| Sustainable Investment | 5,791 | 748 | - | 4,868 | - | 175 |
| Cashflow Solution | 4,578 | 1,125 | - | 2,812 | 227 | 414 |
| Multi-Asset | 3,857 | - | - | 3,857 | - | - |
| Economic Advantage | 2,144 | 491 | - | 1,631 | - | 22 |
| Global Fundamental | 1,579 | 191 | 1,050 | 338 | - | - |
| Global Equities | 1,164 | - | - | 1,086 | 24 | 54 |
| Global Innovation | 1,106 | - | - | 1,059 | - | 47 |
| Fixed Income | 1,061 | - | - | 857 | - | 204 |
| River Global 3 | 2,975 | 1,123 | 216 | 1,149 | - | 487 |
| Total | 24,255 | 3,678 | 1,266 | 17,657 | 251 | 1,403 |
AuMA as at 17 July 2026 were £24,030 million3.
3 Excludes AuMA related to European Opportunities Trust Plc ("EOT"), where the board of EOT has announced a reconstruction.
Flows
The net outflows over the Period were £357 million (2026: £1,089 million), which include £520 million of gross Institutional flows. A reconciliation of fund flows and AuMA over the Period is as follows:
| Total | Institutional Accounts | Investment Trusts | UK Retail Funds & MPS | Alternative Funds 2 | International Funds | |
|---|---|---|---|---|---|---|
| (£m) | (£m) | (£m) | (£m) | (£m) | (£m) | |
| Opening AuMA - 1 April 2026 | 19,554 | 1,935 | 1,059 | 15,551 | 225 | 784 |
| Net flows | (357) | 447 | (36) | (822) | 4 | 50 |
| Market & Investment performance | 2,083 | 173 | 27 | 1,779 | 22 | 82 |
| River Global acquired AuMA | 2,975 | 1,123 | 216 | 1,149 | - | 487 |
| Closing AuMA - 30 June 2026 | 24,255 | 3,678 | 1,266 | 17,657 | 251 | 1,403 |
Key Fund Performance
Twenty-nine funds in the first or second quartile over 3 years:
- Seven Fixed Income funds - Strategic Bond, MA Monthly High Income, SF Corporate Bond, SF Monthly Income Bond, GF High Yield, GF Global Corporate Bond and GF SF European Corporate Bond funds.
- Eight Global equity funds - Global Dividend, Global Innovation, Global Technology, Balanced, Global Alpha, Japan Equity, Latin America and GF Global Alpha Long Short funds.
- Three European equity funds - European Dynamic, GF European Smaller Companies and GF European Strategic Equity funds.
- One UK equity fund - Edinburgh Investment Trust Plc.
- Two Multi-Asset funds - MA Explorer 35 and MA Explorer Income 60 funds.
- Eight River Global funds - Global Recovery IE, UK Recovery, Global Recovery, UK Opportunities, Global Income and Growth, UK Listed Smaller Companies, River UK Micro Cap Limited and UK Equity Income funds.
Source: Financial Express to 30 June 2026 as at 15 July 2026, bid-bid, total return, net of fees, based on primary share
class.
Past performance is not a guide to future performance. Investments can result in a total loss of capital. The above funds are UK authorised unit trusts, OEICs, Irish authorised UCITS (primary share class), or UK‑listed investment trusts. Onshore funds use the Financial Express Investment Association sectors. Offshore funds use the FCA‑recognised offshore sectors. Edinburgh Investment Trust Plc uses the AIC Investment Trust UK Equity Income sector. River UK Micro Cap Limited uses the AIC Investment Trust UK Smaller Companies sector.
The MA Dynamic Passive fund range, MA Blended fund range, and the Russia Fund (suspended) are not included, as they are in IA sectors that are not rankable.
Notice of Trading Update for the three months ending 30 September 2026
Liontrust confirms that it will be announcing its trading update for the three months ending 30 September 2026 on Wednesday, 21 October 2026.
Other information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.