Berenberg cuts profit estimates and lowers Liontrust target price
Berenberg cited market weakness, softer sentiment and the departure of two fund managers for short-term headwinds, cutting FY27 and FY28 profit estimates by 9% and 12% and expecting higher redemptions, including around £200m at risk from certain strategies.
Berenberg said equity-market weakness, softer investor sentiment and the recent departure of two fund managers have created short-term headwinds, prompting it to cut profit estimates by 9% for FY27 and 12% for FY28. It now expects higher redemptions, including around £200m at risk from strategies.