LionTrust and Ashmore hit as Investors turn their backs on risk

Asset and investment managers LionTrust and Ashmore were the two biggest losers on the FTSE 250 as economic uncertainty deters investors from riskier assets.

LionTrust shares fell 9.7 per cent, or 69p, to 640p after their trading update reported a 6 per cent fall in assets under management and outflows of £1.6billion for the last quarter.

Ashmore plunged by 8.3 per cent, or 18p, to 198.8p as it said there had been a 3 per cent drop in its assets under management and net outflows of £2.6billion for the three months leading up to June. 

Lion Trust, which primarily focuses on UK equities, blamed its results on the poor performance of the UK equities market.

Mark Coombs, who is the chief executive of emerging markets specialist Ashmore, commented: ‘There remains some global macro uncertainty and certain investors have therefore reduced risk during the quarter.’