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Liontrust - European Income - Olly Russ

European Income Fund

Olly Russ

The Fund

The Fund has been managed by Olly Russ since launch in December 2005 (the FP Argonaut European Income Fund merged with the Liontrust European 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.

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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.

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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.

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100 days of Trump

Olly Russ

As President Trump approaches his 100th day in office (29 April), Liontrust’s fund managers take a look at his impact on markets. Read more

Latest fund update

European Income Fund

Read the latest update for the Liontrust European Income Fund.

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


Discrete performance

31-03-2016 -
31-03-2015 -
31-03-2014 -
31-03-2013 -
31-03-2012 -
Liontrust European Income 17.50% -0.19% 9.49% 15.34% 19.57%
IA Europe Excluding UK 23.72% -1.78% 6.86% 17.39% 19.31%
MSCI Europe ex UK 17.64% -12.63% 18.85% 20.59% 14.78%
Liontrust European Income
IA Europe Excluding UK
MSCI Europe ex UK
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust European Income 16.70% 27.19% 38.37% 110.64% 72.35% 138.40%
IA Europe Excluding UK 21.22% 33.11% 40.68% 118.38% 78.76% 142.79%
MSCI Europe ex UK 18.92% 18.30% 23.69% 93.99% 21.27% 66.80%
To previous working day
Liontrust European Income
IA Europe Excluding UK
MSCI Europe ex 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.

• 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.

Source: Financial Express. Total return, bid-to-bid. The FP Argonaut European Income Fund was launched on 15.12.05 and merged with the Liontrust European Income Fund on 08.07.16. The performance record of the Liontrust European Income Fund starts on 15.12.05, 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.

© 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.

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
  • BenchmarkMSCI Europe ex UK
  • Fund size£180,511,500.00
  • Number of holdings48
  • Active Share79.41%
  • Historic yield3.51%

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.

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