Liontrust Asset Management: Trading Statement

LEI: 549300XVXU6S7PLCL855

For immediate release

21 October 2026

LIONTRUST ASSET MANAGEMENT PLC

Trading Update

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 September 2026 (the "Period").  

·    Assets under management and advice ("AuMA") were £24.1 billion as at 30 September 2026.

·    Net outflows of £459 million in the Period (three months to 30 September 2025: £1.2 billion).

·    Twenty-eight funds and investment trusts in the first or second quartile over 3 years¹.

·    The proposed acquisition of the fund management and model portfolio services business of Hawksmoor Fund Management and Hawksmoor Investment Services (together, "Hawksmoor" and the "Proposed Acquisition") announced on 30 September 2026 and will add approximately £1.9 billion² of AuMA when the Proposed Acquisition completes, due by end December 2026.

·    AuMA as at 16 October 2026 were £24.0 billion.

Commenting, John Ions, Chief Executive Officer, said:

"Liontrust has continued to develop and diversify the business over the last quarter, while retaining the distinctive active investment culture at the heart of the company, as we pursue our growth strategy.

We are encouraged by the improvement in investment performance over the past six months and the progress we are making in enhancing distribution, both internationally and in the UK. As a result, net outflows between 1 April and 30 September 2026 were significantly lower than in the first half of the last financial year.

The integration of River Global demonstrates the benefits of combining complementary investment capabilities and providing talented managers and strong performing funds with Liontrust's brand, distribution capabilities and operating platform. This has been shown by the Board of River UK Micro Cap announcing yesterday that they have reappointed Liontrust as investment manager and the successful engagement with clients on our recent roadshow for the Global Income and Growth Fund.

Hawksmoor's funds and investment solutions business will add around £1.9 billion in AuMA and further strengthen our Multi-Asset capabilities including through the strong performing Vanbrugh and Distribution funds. Hawksmoor's complementary approach and process will broaden the investment solutions we can offer clients and bring new adviser relationships and strategic partnerships.

The existing Liontrust Multi-Asset team has continued to expand engagement with financial advisers and recently won the Best Large Firm category at Citywire's Investment Performance Awards. 

Liontrust has used the prolonged challenging period for active fund management to build a stronger business with a more diversified investment capability, broader distribution and enhanced infrastructure. Our focus is on converting the potential pipeline of flows from the UK and internationally and turning the progress we have made into sustainable organic growth."

¹ Source: Financial Express to 30 September 2026 as at 5 October 2026, bid-bid, total return, net of fees, based on primary share class.

² Source: Hawksmoor, as at 31 August 2026.

Assets under management and advice

On 30 September 2026, our AuMA stood at £24,058 million and were broken down by type and investment team as follows:

³ Alternative Funds included in International Funds.

⁴ Includes AuMA that transferred from River Global Holdings Limited.

⁵ Investment team(s) that joined and clients whom transferred from River Global Holdings Limited.

⁶ AuMA for the Liontrust Listed UK Smaller Companies Fund⁵, Liontrust Institutional UK Small Companies Fund⁵ and River UK Micro Cap Limited⁵ included in the Recovery team AuMA.

⁷ Includes LT European Opportunities Fund, the rollover fund for European Opportunities Trust Plc, and funds managed by Compound Equity Group Limited

AuMA as at 16 October 2026 were £24.0 billion.

Flows

The net outflows over the Period were £459 million (three months to 30 September 2025: £1,235 million). A reconciliation of fund flows and AuMA over the Period is as follows:

⁸ Alternative Funds included in International Funds.

Key Fund Performance

Twenty-eight funds and investment trusts in the first or second quartile over 3 years:

1.    Six Fixed Income funds - Strategic Bond, SF Corporate Bond, SF Monthly Income Bond, GF High Yield, GF Global Corporate Bond and GF SF European Corporate Bond funds. 

2.    Three European funds - European Dynamic, GF European Smaller Companies and GF European Strategic Equity funds. 

3.    Four UK funds - UK Recovery, UK Opportunities, UK Listed Smaller Companies and UK Equity Income funds.

4.    Ten Global Equity funds - Global Income & Growth, Global Recovery IE, Global Recovery, Global Dividend, Global Innovation, Global Technology, Balanced, Global Alpha, US Opportunities and GF Global Alpha Long Short funds.

5.    Four Multi-Asset funds - MA Monthly High Income, MA Explorer 35, MA Explorer Income 60 and MA Explorer 85 funds. 

6.    One Investment Trust - River UK Micro Cap Limited.

Source: Financial Express to 30 September 2026 as at 5 October 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 Half Year Results Announcement

Liontrust confirms that it will be announcing its half year results for the six months ended 30 September 2026 on Thursday, 19 November 2026.

For further information please contact

Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.com)

Stephen Corbett: Head of Investor Relations

Simon Hildrey: Chief Marketing Officer

H/Advisors (Email: liontrust@h-advisors.global)

Rachel Cohen (Tel: 0755 717 8196, Email: rachel.cohen@h-advisors.global)

Berenberg (Tel: 020 3207 7800)

Investment Banking: James Felix, John Welch, Dan Gee-Summons

Panmure Liberum (Tel: 020 7886 2500)

Corporate Broking: David Watkins

Corporate Advisory: Atholl Tweedie

Singer Capital Markets (Tel: 020 7496 3000)

Corporate Broking: Charles Leigh-Pemberton, Daniel Ingram

Forward Looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses and plans of Liontrust. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that have not yet occurred. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. As a result, the Liontrust's actual future financial condition, results of operations and business and plans may differ materially from the plans, goals and expectations expressed or implied by these forward-looking statements.  Liontrust undertakes no obligation publicly to update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules of the Financial Conduct Authority).  Nothing in this announcement should be construed as a profit forecast or be relied upon as a guide to future performance.

Other information

The release, publication, transmission or distribution of this announcement in, into or from jurisdictions other than the United Kingdom may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, transmitted or distributed should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.

ENDS