Liontrust Monthly Income Bond Fund | What we offer | Liontrust Asset Management PLC
Liontrust - Sustainable Future

Monthly Income Bond Fund

Stuart Steven, Kenny Watson & Aitken Ross

The Fund

The Fund has been managed by Stuart Steven since its launch in June 2010, with Aitken Ross joining the team in 2012 and Kenny Watson in 2013. The fund managers aim to produce a high monthly income yield and some capital growth through investing in corporate bonds predominantly while also holding some government bonds. While the Fund has been structurally short duration since launch, it has the flexibility to revert to a standard duration fund as and when yields normalise.

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The Sustainable Investment team (Fixed income)

Sustainable Future team - Fixed income
Stuart Steven, Kenny Watson & Aitken Ross

Stuart Steven, Kenny Watson and Aitken Ross have more than 57 years of combined investment experience in managing fixed income. They also transferred to Liontrust from ATI in April 2017.

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The Sustainable Future Process (Fixed income)

We invest in a focused portfolio of corporate bonds that are attractively valued and take into consideration environmental, social and governance (ESG) factors by investing in companies that manage these exposures to minimise risk. As active managers, we believe in a high conviction approach to ensure we develop a thorough understanding of our holdings and the factors that influence their long-term value. There are two main stages to the process: seeking to identify superior bonds and construct resilient portfolios.

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Citywire - Fund Manager rated +
Kenny Watson
Citywire Manager rating: +
Morningstar rated 4 star
Liontrust Monthly Income Bond Fund
Morningstar Rating: 4
Morningstar Sustainability rated 4
Liontrust Monthly Income Bond Fund
Morningstar Sustainability Rating: 4
Rayner Spencer Mills - R Rated Fund
Liontrust Monthly Income Bond Fund
Rayner Spencer Mills rated


Discrete performance

30-09-2016 -
30-09-2015 -
30-09-2014 -
30-09-2013 -
30-09-2012 -
Liontrust Monthly Income Bond 6.74% 10.61% 2.19% 6.41% 6.25%
IA Sterling Corporate Bond 0.61% 12.22% 2.82% 6.42% 2.88%
Markit iBoxx £ Corporates 5-15 1.21% 14.12% 4.88% 8.07% 5.11%
Liontrust Monthly Income Bond
IA Sterling Corporate Bond
Markit iBoxx £ Corporates 5-15
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust Monthly Income Bond 3.25% 8.19% 21.12% 35.09% N/A 60.65%
IA Sterling Corporate Bond 1.22% 3.87% 15.59% 27.26% N/A 49.48%
Markit iBoxx £ Corporates 5-15 1.49% 4.63% 20.91% 37.61% N/A 69.98%
To previous working day
Liontrust Monthly Income Bond
IA Sterling Corporate Bond
Markit iBoxx £ Corporates 5-15

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.  • The Fund has holdings which are denominated in currencies other than Sterling and may be affected by movements in exchange rates. Consequently the value of an investment may rise or fall in line with the exchange rates. • Fluctuations in interest rates are likely to affect the value of the bonds and other fixed-interest securities held by the Fund. The value of these securities will fall if the issuer is unable to repay their debt or has their credit rating reduced. Generally, the higher perceived credit risk of the issuer, the higher the rate of interest. Fluctuations in interest rates are likely to affect the value of the bonds and other fixed-interest securities held by the Fund. If long-term interest rates rise, the value of your shares is likely to fall. If long-term interest rates rise, the value of your shares is likely to fall. • The fund can invest in derivatives. Derivatives are used to protect against currencies, credit and interests rates move or for investment purposes. There is a risk that losses could be made on derivative positions or that the counterparties could fail to complete on transactions. • If you need to access your money quickly it is possible that, in difficult market conditions, it could be hard to sell holdings in corporate bond funds. This is because there is low trading activity in the markets for many of the bonds held by these funds. The Distribution Yield is higher than the Underlying Yield because the fund distributes coupon income and a portion of the fund’s expenses are charged to capital. This has the effect of increasing distributions and constraining the fund’s capital performance to an equivalent extent.

• 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. 

© 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 date14/06/2010
  • IA sectorIA Sterling Corporate Bond
  • BenchmarkMarkit iBoxx £ Corporates 5-15
  • Fund size£249,740,100.07
  • Number of holdings49
  • Historic yield5.63%

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.

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