Liontrust Asset Management PLC (LON:LIO) has pulled a new ESG-focused investment trust after it failed to reach the £100mln minimum level of applications.
The investment manager's first closed-end trust had been expected to float on 5 July and was actually seeking to raise up to £150mln.
“We are disappointed we won’t get the chance to repay faith through an investment trust after everyone worked so hard to secure its launch,” chief executive John Ions said.
ESG theme funds have pulled in big sums over the past year, including Liontrust’s own open-ended funds, but appetites might be starting to wane as competition for funds intensifies.
Liontrust already oversees around £10bn in sustainable assets through its funds.