Liontrust (LSE:LIO) reported assets under management and advice of £19.6 billion as of 31 March 2026, rising to £20.8 billion by 20 April. Quarterly net outflows improved to £0.8 billion, down from £1.3 billion in the same period last year. The firm pointed to strong investment performance across key European, fixed income, and global strategies, and highlighted two new institutional mandates exceeding £500 million that are expected to be funded by the end of May.
The proposed acquisition of River Global Holdings has also moved forward, receiving strong shareholder approval from River Global PLC. The deal, covering £2.6 billion of assets under management and advice—excluding mandates that are closing or have already been terminated—is expected to expand Liontrust’s investment capabilities and diversify its client base. Management believes that broader international distribution and the addition of River Global will position the group to benefit from growing demand for active management, supporting longer-term organic growth despite recent market-driven asset fluctuations.
Liontrust’s outlook is supported by attractive valuation metrics, including a relatively low P/E ratio and a high dividend yield, suggesting potential undervaluation. However, weaker technical signals and pressures on financial performance—such as declining revenue and free cash flow—temper the investment case. Strategic initiatives, including acquisitions and capital returns, offer some support but do not fully offset these challenges.
More about Liontrust Asset Management
Liontrust Asset Management is a UK-based independent active asset manager offering a broad range of investment strategies, including sustainable investing, equities, fixed income, multi-asset solutions, and alternatives. The firm serves institutional and retail clients globally, with an expanding presence across Europe, the Middle East, and Asia, and a focus on delivering differentiated, actively managed portfolios.
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