Liontrust assets under management (AuM) totalled £12.05bn at the end of September 2018, an increase of 15% compared to £10.48bn as at 1 April 2018.

However, AuM at the British asset manager dropped to £11.5bn as of 19 November 2018, due to market volatility.

Net inflows in the six months to September 2018 were £723m, as against £178m a year ago.

Inflows of £707 inflows came from the firm’s UK retail portfolio, while institutional products reported outflows of £134m.

Adjusted pre-tax profit at the firm during the period was £14.5m, a 21% increase from £12m in the previous year.

Liontrust CEO John Ions said: “It has been another successful six months for Liontrust in which we have continued to make progress in growing and developing the business. We have had strong sales, increased profits and invested across the company to enable us to continue our expansion.

“Net inflows for the first half of our financial year were £723 million. This was a strong performance given the environment of investor, economic and political uncertainty. The level of this achievement is shown by the fact that for the third quarter of 2018, Liontrust had the 5th highest net onshore and offshore sales across institutional and retail markets.”

Meanwhile, Liontrust has appointed Alastair Barbour as its new chairman, replacing Adrian Collins who will retire next year.

Currently, Barbour is a non-executive director on the Liontrust board, which he joined in April 2011. He previously worked as a partner of KPMG.