European Income | Who we are | Liontrust Asset Management PLC
European Income - Olly Russ

The European Income team

Olly Russ & Oisin O’Leary

The team

Olly Russ and Oisin O’Leary have a combined 25 years of investment and capital markets experience. Olly joined Liontrust in July 2016, having started his career at investment boutique Orbitex in 1998. At Orbitex, Olly worked on European Equity and UK Income funds and was responsible for running the Orbitex UK Equity Fund from its inception in March 2000. In 2002, Olly moved to Invicta Investment Management, a privately owned hedge fund, before joining Neptune Investment Management as a fund manager and financial analyst. He moved to Argonaut Capital in 2005. Oisin joined Liontrust in June 2017, having previously been an investment analyst at Argonaut Capital Partners across the company’s range of funds from September 2015. He was also formerly an investment analyst at Maris Capital and a debt capital markets analyst at HSBC Bank.

Liontrust's Olly Russ

The European Income Process

The process seeks to find companies whose asset base and business are defended by an economic moat, such as a strong brand, niche products or a dominant market position, and where analysts underestimate future earnings growth or have undervalued the expected earnings growth. The fund managers use dividends as a proxy for earnings growth and expects to see dividends rising over time as companies increase pay outs to shareholders and earnings grow.

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Sea of opportunity in Europe has tide turning for earnings

Olly Russ & Oisin O’Leary

Olly Russ and Oisin O’Leary speak with Citywire about the good news stories they’re finding in Europe. Read more

Latest fund updates

European Income

Read the latest fund updates for the Liontrust European Income funds.
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Ratings

Citywire - Fund Manager rated +
Olly Russ
Citywire Manager rating: +
FE Crown Rated - 4
Liontrust European Income Fund
FE Crown Rating: 4
Morningstar Sustainability rated 4
Liontrust European Enhanced Income Fund
Morningstar Sustainability Rating: 4
Rayner Spencer Mills - R Rated Fund
Liontrust European Income Fund
Rayner Spencer Mills rated

UK domiciled  

European Enhanced Income Fund

The Fund aims to provide a high level of income along with some capital growth through holding a portfolio of mainly European companies. The Fund uses a covered call strategy to boost income and targets a yield of 1.25 times that of the MSCI Europe ex-UK Index.

Europe is a big place with some excellent companies operating there. Russ is a total stockpicker, who looks for those businesses he believes will prosper. The fund's yield is 4 per cent, which I am also happy to collect.

Roddy Kohn, Money Observer magazine, Sep 2016

European Income Fund

The Fund aims to provide a high level of income along with some capital growth through holding a portfolio of mainly European companies.

In terms of its risk metrics, the fund has achieved a top-quartile annualised volatility and maximum drawdown (which measures the most potential money lost if bought and sold at the worst times)…since Russ launched the fund in 2005.

FE Trustnet, July 2016

Disclaimer:
• Past performance is not a guide to future performance. • Do remember that the value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. • Investment in Funds managed by the European Income Team involves foreign currencies and may be subject to fluctuations in value due to movements in exchange rates. • The Funds' expenses are charged to capital. This has the effect of increasing dividends while constraining capital appreciation. • Investment in the European Enhanced Income Fund writes out of the money call options to generate additional income. These call options will be “covered”. Unitholders should note that potential capital growth of the Fund would be capped if these call options are exercised against the Fund and the Fund’s capital returns are likely to be lower than the market in periods of rapidly rising share prices.

• The information and opinions provided should not be construed as advice for investment in any product or security mentioned.  • Always research your own investments and consult with a regulated investment adviser before investing.


Citywire information is proprietary and confidential to Citywire Financial Publishers Ltd ('Citywire'), may not be copied and Citywire excludes any liability arising out of its use. © 2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  Past performance is no guarantee of future results.

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