Trading Update

17 January 2006

                          Stock Exchange Announcement                          

 

                        LIONTRUST ASSET MANAGEMENT PLC                         

                                                                               

                          January 2006 Trading Update                          

 

On 31 December 2005our funds under management stood at £4.67 billion and at £
4.72 billion on 16 January 2006. In the nine months to end December, gross unit
trust sales averaged £26 million per month but total net redemptions were £136
million. Net institutional funds worth £261 million were withdrawn over the
same period.

 

A small performance fee was earned on one institutional account in the nine
month period ended 31 December 2005 generating an operating profit, after
compensation, of approximately £30,000. By comparison the operating profit
contribution from performance fees for 9 months to 31 December 2004 was nil.
All institutional mandates with performance fee structures are based on either
the Large Cap or Growth investment processes. 

 

In the twelve months to 31 December 2005, the authorised unit trusts based on
the Large Cap and Growth processes are up by 21.0% and 21.6% respectively
compared with their benchmark, the FTSE All-Share (Total Return) index which is
up by 22.0%. *

 

The performance on the other two processes remains strong.  In the twelve
months to 31 December 2005, the authorised unit trust based on our Small Cap
process is up by 20.1% while its benchmark is up by 19.0%.  The total return of
the First Income unit trust was 19.4% during the year. *

 

 

For further information please contact:

 

Liontrust Asset Management PLC:

 

Nigel
Legge                                                                                                           
Tel: [phone]

 

JP Morgan Cazenove Limited:

 

Richard
Locke                                                                                                        
Tel: [phone]

 

*Source: Lipper, bid to bid basis, income reinvested, net of fees.