Скачать или смотреть LIONTRUST ASSET MANAGEMENT PLC - Half Year Results

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0:00 Introduction
2:50 Overview
10:55 Strategies
15:40 Financial review – H1 FY26
19:35 Q&A

Liontrust Asset Management Plc's (LSE:LIO) latest investor update highlights a resilient business navigating challenging market conditions while positioning for long-term growth. The company reported half-year 2025 adjusted profit of just under £16 million, strong capital reserves, and announced a share buyback of up to £10 million alongside continued investment in efficiency and technology. Despite subdued flows, Liontrust emphasised a strengthening pipeline, including £250 million of newly won institutional mandates, growing international interest, and sustained demand across high-conviction active strategies. Management expects improving industry tailwinds driven by lower forecast market returns, valuation opportunities in UK and European equities, and rising concerns over index concentration - factors that enhance the relevance of active management. The presentation outlined strong performance across several key funds, including European equities, long/short strategies, high-yield and income bond funds, and the expanding global innovation and global equity teams. With average AUM at £22.4 billion and an adjusted operating margin of 23.8%, Liontrust continues to focus on margins, EBITDA discipline, and operating model enhancements through partnerships with BlackRock and BNY. The business has identified a further £1.5 million in annual cost efficiencies by 2026. Brand strength, client engagement, and global distribution remain core competitive advantages, supported by positive institutional feedback and growing buyer-list inclusion across regions. Management reiterated that market cycles are turning, presenting a favourable backdrop for stock selection, diversification, and active risk management. Liontrust maintains confidence in its growth strategy, capital allocation framework, and long-term ability to deliver value through disciplined investment processes, strong client service, and consistent performance.