Positive outlook: Liontrust boss John Ions
The boss of one of Britain’s leading asset managers says UK small and mid-cap stocks are out of favour after investors pulled billions from its funds.
In an update underlining the strife in the industry, Liontrust Asset Management was hit by £6.1billion of withdrawals last year. About £4billion was from UK equities – in a further sign that the London stock market is unloved.
It comes amid soul-searching in the City as a lack of investment in UK stocks dents valuations and leaves them vulnerable to takeovers.
Other firms have looked to leave London in favour of listings in New York or elsewhere, or as private companies.
Liontrust chief executive John Ions said: ‘Many of our core…
