Liontrust Asset Management shares fall on retail outflows

Liontrust Asset Management (LON:LIO) shares dropped 2.7% on Wednesday after the British fund manager reported continued net outflows during the quarter.

The company posted net outflows of £459 million ($613.6 million) in its second quarter. The figure represents a reduction from the £1.24 billion in net outflows recorded in the same period a year earlier.

The quarterly outflows were driven by ongoing withdrawals from retail investors, which exceeded demand from institutional clients.

While institutional interest remained strong, it was not sufficient to offset the retail redemptions.