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Liontrust Asset Management (LSE:LIO) has reported assets under management and advice (AuMA) of £24.1 billion as of 30 September 2026, with quarterly net outflows of £459 million, representing a reduction compared with the corresponding period last year.

The UK-based active asset manager said investment market movements partially offset client withdrawals during the quarter, while fund performance improved across several investment strategies.

Liontrust reported that 28 of its funds and investment trusts ranked in the first or second quartile of their respective peer groups over a three-year period.

The company continues to manage investment portfolios across UK and international equities, fixed income, sustainable investment strategies and multi-asset products, serving retail and institutional clients.

Management said the group is progressing its strategy to diversify investment capabilities and distribution channels, including the integration of capabilities acquired through River Global.

The company is also expanding its distribution activities in the UK and international markets as part of its efforts to attract additional client assets and increase its presence across different investment categories.

Separately, Liontrust is progressing the planned acquisition of Hawksmoor’s fund management and model portfolio services business.

The proposed transaction is expected to add approximately £1.9 billion in assets under management and advice, subject to completion.

Liontrust said the acquisition would expand its multi-asset investment capabilities and increase its range of services for financial advisers and their clients.

The transaction forms part of the group’s strategy to broaden its investment offering through a combination of acquisitions and the development of existing investment teams.

Management also highlighted ongoing efforts to expand relationships with financial advisers, institutional investors and distribution partners, with the objective of increasing organic asset flows.

Despite the reduction in quarterly net outflows compared with the previous year, Liontrust continued to record net client withdrawals during the reporting period.

The company is seeking to address this through investment performance, product development and the expansion of its distribution network.

Liontrust operates as an independent active investment manager, offering funds, investment trusts, institutional mandates and international investment products.

Looking ahead, the group intends to continue integrating River Global’s capabilities, progressing the Hawksmoor acquisition and developing its investment and distribution operations.

Management’s stated priorities include improving net flows, expanding its multi-asset business and converting its existing commercial pipeline into additional client assets.

Aberdeen Group plc (LSE:ABDN) has reported a 4% increase in assets under management and administration (AUMA) to £578.9 billion in its third-quarter 2026 trading update, supported by market movements, acquisitions and inflows at its interactive investor platform.

The UK asset and wealth management group maintained its full-year guidance for adjusted operating profit of at least £300 million and net capital generation of approximately £300 million, despite continued outflows in parts of its adviser and investment management operations.

Overall net flows remained slightly negative during the quarter, with inflows across several investment categories offset by withdrawals from equity strategies, adviser services and legacy insurance-related assets.

Interactive investor recorded net inflows of £2.5 billion during the third quarter, bringing total inflows for the first nine months of 2026 to £9.3 billion.

The direct-to-consumer investment platform increased its customer base by 8% to 533,000, while the number of self-invested personal pension (SIPP) customers rose by 34%.

Aberdeen also reported increased trading activity at interactive investor, alongside the introduction of services including ii Advice and the ii360 trading platform.

The group’s Adviser business reported a 5% increase in assets to £84.5 billion, supported by market movements. However, the division recorded net outflows of £0.7 billion during the quarter.

Management acknowledged that the return to positive net flows in the Adviser division is taking longer than previously anticipated.

During the period, Aberdeen completed the transfer of service teams to internal management and made leadership changes intended to support its operations and relationships with independent financial advisers.

Within the Investments division, total assets under management increased to £393.2 billion, reflecting market gains and acquisitions, including Herald Investment Trust and MFS closed-end funds.

Institutional & Retail Wealth recorded net inflows of £1.0 billion, excluding liquidity products, with demand concentrated in fixed income, real assets and alternative investments.

The company reported inflows associated with Border to Coast and rail infrastructure investments, alongside demand for commodity and precious metal exchange-traded funds.

Equity investment strategies continued to experience net redemptions, although Aberdeen identified demand for certain global emerging markets income products.

The Insurance Partners business remained affected by the ongoing run-off of Standard Life’s legacy insurance portfolio, which continued to contribute to net outflows.

Separately, Aberdeen announced the sale of approximately half of its equity holding in Standard Life, generating proceeds of around £430 million.

The company said the proceeds would be allocated in accordance with its capital management framework, which includes investment in existing operations, maintaining balance sheet capacity, reducing debt and providing shareholder returns.

As part of its debt management activities, Aberdeen plans to redeem £210 million of Additional Tier 1 capital instruments at their first call date in December 2026.

The planned redemption follows the group’s broader approach to managing its capital structure and financial obligations.

Aberdeen operates across retail investment platforms, financial adviser services and institutional asset management, with investment capabilities spanning equities, fixed income, real assets and alternative strategies.

Looking ahead, management expects continued development of its retail investment and institutional businesses while addressing net outflows in the Adviser division and certain investment strategies.

The group reaffirmed its FY2026 targets of at least £300 million in adjusted operating profit and approximately £300 million in net capital generation, with the third-quarter update reflecting growth in total assets alongside differing flow trends across its operating divisions.

MS International plc (LSE:MSI) has secured a £29.7 million contract through its subsidiary MSI-Defence Systems Ltd to supply naval gun systems for the German Navy’s F128 frigate programme.

The agreement covers the delivery of twelve DS30M 30mm naval gun systems, which will be installed across four frigates being developed under a programme led by German shipbuilding contractor TKMS GmbH.

The F128 programme is intended to support Germany’s naval capabilities, including anti-submarine warfare and maritime security operations.

Under the contract, MSI-Defence Systems will manufacture and supply the gun systems in accordance with the frigate programme’s delivery schedule, with deliveries planned over the coming years.

The DS30M is a medium-calibre naval weapon system already used by several international naval operators. The contract adds to MS International’s existing defence order book and expands its involvement in European naval procurement programmes.

MSI-Defence Systems specialises in the design, development and supply of naval weapon systems, including medium-calibre gun installations for military vessels.

The subsidiary operates within MS International’s wider engineering and defence business, supplying equipment to international defence customers and participating in naval acquisition programmes.

The German Navy contract represents an additional order for the company’s naval weapons operations, with the twelve systems designated for installation on the four vessels covered by the programme.

MS International has not provided a detailed delivery timetable or disclosed the expected contribution of the contract to individual financial reporting periods.

The company will undertake deliveries in line with the broader F128 programme schedule, adding the £29.7 million agreement to its contracted defence activities.

SigmaRoc (LSE:SRC) has reported a 2.5% increase in revenue to £795 million for the nine months ended 30 September 2026, alongside a 7.5% rise in underlying EBITDA to £207.3 million, as the European lime and minerals producer recorded higher operating margins and agreed an acquisition in Lithuania.

The group’s underlying EBITDA margin increased to 26.1%, reflecting improvements in operational efficiency and cost management across its businesses.

SigmaRoc said demand from infrastructure, industrial and environmental markets supported trading during the period, offsetting continued lower activity levels in residential construction across parts of Europe.

During the third quarter, the company recorded revenue growth across all its principal end markets. Construction-related activity also returned to growth following a period of reduced demand during the first half of the year.

The group attributed its financial performance to operational measures implemented across its portfolio, including initiatives focused on productivity, cost control and the integration of its mineral production businesses.

Following the trading update, SigmaRoc’s board reiterated its expectation that full-year 2026 results will be in line with market forecasts.

Separately, the company announced an agreement to acquire AB Dolomitas, a Lithuanian dolomite producer, for €110 million.

The proposed transaction will expand SigmaRoc’s operations in the Baltic region and add mineral reserves to its existing portfolio. AB Dolomitas operates in the production of dolomite, a mineral used in construction materials and various industrial applications.

SigmaRoc said the acquisition is consistent with its strategy of expanding through investments in mineral production assets and developing regional operating platforms.

The company continues to focus on lime and mineral products supplied to industrial, environmental and construction customers across Europe.

Its product portfolio includes lime and limestone materials used in traditional construction and industrial processes, alongside applications in battery manufacturing and recycling, cement substitution and environmental treatment.

Other applications include lake liming, air pollution control and direct air capture technologies, where mineral-based materials are used in environmental management processes.

Management said the group continues to operate against a backdrop of macroeconomic and geopolitical uncertainty, including varying levels of construction activity across its European markets.

Despite these conditions, SigmaRoc maintained its full-year expectations following the improvement in third-quarter trading and the increase in underlying EBITDA margin.

Looking ahead, the company’s priorities include maintaining operational efficiency, progressing the acquisition of AB Dolomitas and developing its existing lime and minerals businesses.

The proposed Lithuanian acquisition represents a further expansion of SigmaRoc’s European mineral asset portfolio, while the group continues to pursue growth across industrial, infrastructure and environmental markets.

CelLBxHealth plc (LSE:CLBX) has reported a 60% reduction in its cash operating loss for the first nine months of 2026 to £4.0 million, alongside an increase in third-quarter new business, as the oncology diagnostics company continues its operational restructuring and expands pharmaceutical partnerships.

New business secured during the third quarter reached £0.3 million, approximately three times the level recorded in the corresponding period of 2025.

The company now expects full-year 2026 revenue of approximately £1.8 million, representing a 29% increase compared with the previous year.

CelLBxHealth said its strategic and operational realignment has resulted in delays to the recognition of some revenue, affecting the timing of reported income during the current financial year.

Cost reduction measures have lowered average monthly cash expenditure to approximately £0.4 million. The company plans targeted reinvestment during the fourth quarter to support its commercial and development activities.

Management expects an R&D tax credit of approximately £0.8 million, which, together with its existing financial resources and current expenditure plans, is anticipated to extend the company’s cash runway into the first quarter of 2027.

On commercial development, CelLBxHealth reported new Master Services Agreements and Statements of Work with pharmaceutical partners in Switzerland and the United States.

The agreements include activities associated with radioligand therapies, expanding the company’s involvement in a treatment area that uses radioactive compounds to target cancer cells.

CelLBxHealth also highlighted publications from clinical studies involving its circulating tumour cell (CTC) technology, which the company said provide additional supporting evidence for its applications in oncology research and drug development.

The company’s Parsortix platform is designed to isolate circulating tumour cells from blood samples for subsequent analysis, including imaging, proteomic profiling and genomic testing.

CelLBxHealth generates revenue through product sales, laboratory services and laboratory-developed tests. Its operations include Good Clinical Laboratory Practice (GCLP)-compliant facilities in the UK, supporting research and development activities for pharmaceutical companies and other partners.

The group is pursuing additional commercial relationships with contract research organisations, clinical laboratories and pharmaceutical developers to expand the use of its technology in precision oncology.

Looking ahead, CelLBxHealth has issued revenue guidance of between £3.0 million and £4.0 million for 2027, compared with its current expectation of approximately £1.8 million for 2026.

The forecast reflects management’s expectations for increased commercial activity following the operational changes and the addition of pharmaceutical development agreements.

Separately, the company has initiated a search for a new chief executive officer to oversee the next stage of its business development.

CelLBxHealth’s immediate priorities include progressing its pharmaceutical collaborations, expanding applications for its Parsortix technology and managing expenditure as it works towards its 2027 revenue targets.

Hochschild Mining PLC (LSE:HOC) has reported attributable production of 74,004 gold equivalent ounces for the third quarter of 2026, bringing output for the first nine months of the year to 225,835 ounces, as the company maintained its full-year production and cost guidance.

The precious metals producer, which operates gold and silver mines across Peru, Argentina and Brazil, reaffirmed its annual production target of between 300,000 and 328,000 gold equivalent ounces.

Operational performance during the quarter included increased production at the Mara Rosa mine in Brazil, where the company has been implementing changes to its mining operations.

Hochschild reported that Mara Rosa produced just over 8,000 ounces of gold in September, following the appointment of a new mining contractor and improved access to higher-grade mining areas.

Management said the operational improvement programme at Mara Rosa is approaching completion and expects the changes to support production during the fourth quarter.

At the Inmaculada mine in Peru, production contributed to the group’s third-quarter output, while operations at San Jose in Argentina were temporarily affected by extreme winter weather.

The adverse conditions disrupted production at San Jose during the reporting period. Hochschild expects ore grades at the operation to recover during the final quarter of 2026.

The company also identified inflation-related cost pressures in Argentina but maintained its existing full-year cost guidance.

Hochschild reported net cash of approximately $91 million at the end of September, supported by cash generation from its producing operations.

Alongside production activities, the group continued development work across its portfolio of exploration and growth projects.

At Royropata in Peru, Hochschild submitted a revised environmental impact assessment as part of the regulatory process associated with the project’s proposed development.

In Brazil, work continued at the Monte do Carmo project, which forms part of the company’s pipeline of potential future mining operations.

The group also reported year-on-year improvements in safety performance and water-use efficiency across its operations, reflecting measures implemented as part of its environmental, social and governance programmes.

Regarding the operating environment in Peru, Hochschild indicated that it views the country’s change in government as potentially supportive of future mining investment and development.

The company’s existing production portfolio includes the Inmaculada and San Jose underground mines and the Mara Rosa open-pit operation, alongside exploration and development projects in Latin America.

Looking ahead, Hochschild expects continued operational improvements at Mara Rosa and a recovery in grades at San Jose to contribute to fourth-quarter production.

The company remains on track, according to management, to achieve its 2026 production guidance of 300,000 to 328,000 gold equivalent ounces while continuing development activities at Royropata and Monte do Carmo.

Rainbow Rare Earths (LSE:RBW) has reported progress across its rare earth development projects in South Africa and Brazil for the financial year ended 30 June 2026, alongside an £11.1 million capital raise and an increase in its cash balance to $12.9 million.

The company’s preliminary results outlined developments at its Phalaborwa project in South Africa and Uberaba project in Brazil, both of which are focused on recovering rare earth elements from phosphogypsum, a by-product of fertiliser production.

At Phalaborwa, Rainbow reported that approximately 75% of the project’s processing flowsheet has been finalised. The company also advanced solvent extraction development work in collaboration with Neo Performance Materials and agreed a long-term offtake framework.

These activities form part of the technical and commercial preparations for the next stages of project development.

Rainbow is targeting completion of a pre-feasibility study at Phalaborwa in late 2026, followed by a definitive feasibility study in 2027. The studies are intended to assess the project’s technical requirements, operating parameters and economic viability.

In Brazil, the company’s Uberaba project, being developed in partnership with The Mosaic Company, progressed to the pre-feasibility stage following completion of an economic assessment.

Rainbow said the assessment supported further development work at Uberaba, where the company is evaluating the recovery of rare earth elements from phosphogypsum materials.

The group’s development strategy centres on extracting rare earth elements from existing industrial by-products rather than conventional mined ore. Rainbow is assessing the potential cost and environmental characteristics of this processing approach as part of its project studies.

During the financial year, Rainbow raised £11.1 million to support its development activities and reported a cash balance of $12.9 million. The company also expanded its team as work progressed across its project portfolio.

Separately, Rainbow began evaluating a potential listing in the United States. No definitive decision or timetable for a US listing was provided in the preliminary results.

The company also highlighted changes in the international rare earth market, including tighter Chinese export controls and differences between domestic Chinese prices and prices available outside China for certain heavy rare earth elements.

According to Rainbow, governments in Western markets have responded to supply chain considerations through measures including strategic stockpiling, price support mechanisms and direct investment in rare earth projects.

The company views these developments as relevant to its plans to establish alternative sources of rare earth materials for industrial, energy transition and defence applications.

Rainbow’s principal projects are intended to supply rare earth elements used in manufacturing and technology applications, with the company pursuing processing and offtake arrangements to support future commercial operations.

Looking ahead, Rainbow’s priorities include completing the remaining technical work at Phalaborwa, progressing the planned feasibility studies and continuing pre-feasibility activities at Uberaba.

The group will also continue evaluating financing and market opportunities, including the potential US listing, as it advances both projects towards future development decisions.

Andrada Mining (LSE:ATM) has reported a profit after tax of £2.5 million for the first half of its 2027 financial year, compared with a loss in the corresponding period last year, as higher production and tin prices contributed to increased revenue at its operations in Namibia.

Revenue rose 80% year on year to £20.6 million, while gross profit increased more than fourfold. The company also reported operating cash generation of £4.9 million, with its cash balance reaching £15.6 million at the end of the reporting period.

Andrada said operating costs per tonne remained broadly stable despite increased production volumes, contributing to the improvement in profitability.

The company’s Uis tin mine remained its principal producing asset during the period, with expansion activities continuing as part of its strategy to increase output.

A fully funded ore-sorting expansion at Uis is progressing according to schedule. Once completed, the project is expected to increase annual contained tin production to between 1,500 and 1,900 tonnes.

Management expects the additional production capacity to contribute to future operating margins and cash generation, although the anticipated benefits remain dependent on the completion and performance of the expansion.

Alongside its producing operations, Andrada continued exploration and development work across its other Namibian mineral assets.

At Lithium Ridge, exploration activities identified an extension of previously recognised mineralisation. The project is being advanced through a strategic partnership with SQM, with development activities focused on lithium, tin and tantalum opportunities.

At Brandberg West, the company reported progress in the regulatory approval process and results from ore-sorting test work. The project contains tungsten, copper and tin mineralisation and is being developed in collaboration with BWCAM.

Andrada said the regulatory milestone and test results would support further evaluation of the project’s development potential.

The company also undertook changes to its board during the reporting period as part of a governance renewal process.

Management described the first half of FY2027 as a transition in the group’s financial performance, with Uis generating positive earnings while investment continues across its exploration and development portfolio.

Andrada’s operations are centred on three principal assets in Namibia: the producing Uis tin mine, the Lithium Ridge exploration project and the Brandberg West polymetallic project.

The group is pursuing increased tin production alongside the development of lithium, tungsten, copper and tantalum resources through its existing assets and strategic partnerships.

For the second half of FY2027, Andrada’s priorities include completing the Uis ore-sorting expansion and progressing technical and development activities at Lithium Ridge and Brandberg West.

The company enters the second half with £15.6 million in cash and an ongoing investment programme aimed at expanding production capacity and advancing its wider critical minerals portfolio.