Liontrust European Enhanced Income Fund | What we offer | Liontrust Asset Management PLC
Liontrust - European Income - Olly Russ

European Enhanced Income Fund

Olly Russ

The Fund

The Fund has been managed by Olly Russ since launch in April 2010 (the FP Argonaut European Enhanced Income Fund merged with the Liontrust European Enhanced Income Fund in July 2016) and 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.

Download literature

European Income

Olly Russ - European Income
Olly Russ

Olly Russ joined Liontrust in July 2016 having started his investment career at Orbitex in 1998. He moved to Neptune Investment Management in 2004 and then Argonaut Capital in 2005.

Read more

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. Olly Russ uses 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.

Read more

It’s the economy (not politics)

Olly Russ

Today’s Dutch election result saw the incumbent centre-right VVD party beat populist anti-immigration candidate Geert Wilder’s eurosceptic PVV party. Read more

Latest fund update

European Enhanced Income Fund

Read the latest update for the Liontrust European Enhanced Income Fund.
Read more


Citywire - Fund Manager rated A
Olly Russ
Citywire rated A


Discrete performance

31-03-2016 -
31-03-2015 -
31-03-2014 -
31-03-2013 -
31-03-2012 -
Liontrust European Enhanced Income 8.20% -6.11% 21.07% 18.70% 17.47%
IA Europe Excluding UK 23.72% -1.78% 6.86% 17.39% 19.31%
Liontrust European Enhanced Income
IA Europe Excluding UK
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust European Enhanced Income 7.17% 5.67% 25.09% 75.07% N/A 69.36%
IA Europe Excluding UK 3.86% 18.74% 30.23% 85.81% N/A 79.03%
To previous working day
Liontrust European Enhanced Income
IA Europe Excluding UK

Risk warning

• 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.

This share class is hedged so investors do not benefit from or are disadvantaged from any movement in the value of the base currency of the fund against investible currencies. In contrast, if applicable, the index returns are in local currency and the average returns of the sector are in sterling.

Source: Financial Express. Total return, bid-to-bid. The FP Argonaut Enhanced European Income Fund was launched on 30.04.10 and merged with the Liontrust European Enhanced Income Fund on 08.07.16. The performance record of the Fund starts on 30.04.10, with Olly Russ managing the Fund since this date. 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.

Explore in detail

For more information (including prices) and to explore all of the Fund's share classes in more detail please visit our interactive fund centre.


Key fund information

  • Launch date08/07/2016
  • IA sectorIA Europe Excluding UK
  • Fund size£62,875,200.00
  • Number of holdings58
  • Active Share85.96%
  • Historic yield4.04%

Fund size, number of holdings and active share data is as at previous month end. Historic yield and performance data is as at previous working day.

Historic yield: Reflects distributions declared over the past 12 months as a percentage of the mid-market unit price. It does not include any preliminary charge and investors may be subject to tax on their distributions.

Active Share: The percentage of a portfolio invested differently to its benchmark. A 100% active share is a portfolio with no weightings in the benchmark, a 0% active share is a portfolio identical to the benchmark.

Back to top