LONDON (ShareCast) - - Assets rise in fourth quarter of 2013
- Annual performance not as strong due to QE
- Expects to meeting full-year profitability targets

Fund manager Lion Trust Asset Management said fourth quarter assets under management (AuM) improved but noted that its annual fund performance was not as strong on a relative basis due to the impact of quantitative easing in boosting lower quality stocks.

AuM increased by £196m over the fourth quarter of 2013 to £3.6bn while AuM in UK Retail funds has passed through £2.5bn.

Chief Executive John Ions said: "Fund flows were mixed but distorted by two larger client withdrawals that were lower margin institutional-type business and the recruitment of the Multi-Asset team from North. Underlying fund flows excluding these remained positive.

"The increasing interest in our range of funds and our very strong long-term performance give us confidence that we will maintain the growth of our business over the coming months and years."

LionTrust said it expects profitability in the current financial year to be in line with expectations.



CJ

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