StockMarketWire.com - Asset manager Liontrust Asset Management said its assets under management grew by a fifth as net flows hit a record in the quarter ended June.

For the period from 1 April to 30 June 2020, assets under management and advice were £19.bn, an increase of 20% since the start of the current financial year.

Net inflows were £971m, up from £725m on-year.

'Liontrust has had a very strong start to the new financial year,' the company said.

Liontrust also reported a fall in profit for year ended 31 March 2020.

Pre-tax profit fell to £16.5m from £22.2m on-year, but assets under management and advice were up 22%.

A second interim dividend per share of 24.0p was declared, taking the total dividend per share for the financial year ending 31 March 2020 to 33p, up 22% on-year.

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