UK-listed fund management firm Liontrust has declared a rise in assets under management of 28% to £1.43bn (€2.3bn) in the year to March, set to rise to nearly £1.6bn when further accounts have completed transition.

Strong cash flow, producing a 200% rise in pre-tax profits to £5.42m, means that the company has been able to declare a maiden 0.5p dividend following its recent float, one year ahead of expectations.