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Anthony Cross & Julian Fosh
The multi-award-winning Fund has been managed since launch in November 2005 by Anthony Cross, who was joined by his co-manager Julian Fosh in 2008. The Fund can invest in any companies in the FTSE All-Share Index regardless of their size or sector, enabling the managers to find the best opportunities wherever they are across the UK stock market. The fund managers use the Economic Advantage investment process to identify companies with a durable competitive advantage that allows the companies to defy industry competition and sustain a higher than average level of profitability for longer than expected.
Anthony Cross and Julian Fosh have won multiple awards and have 55 years of combined investment experience. Anthony, who was previously at Schroders, has managed the Liontrust Special Situations and UK Smaller Companies Funds since launch and he started working with Julian at Liontrust in 2008. Julian has previously managed money at Scottish Amicable Investment Managers, Britannic Investment Managers, Scottish Friendly Assurance Society and Saracen Fund Managers.
The process seeks to identify companies that possess intangible assets which produce barriers to competition and provide a durable competitive advantage that allows the companies to defy industry competition and sustain a higher than average level of profitability for longer than expected. In the fund managers’ experience, the hardest characteristics for competitors to replicate are three classes of intangible asset: intellectual property, strong distribution channels and significant recurring business.
It’s hard to attach a value to ‘digital economy’ benefits for any given company, but... Read more
Special Situations Fund
Read the latest update for the Liontrust Special Situations Fund.Read more
• 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. • Some of the Funds managed by the Economic Advantage Team invest in smaller companies and companies traded on the Alternative Investment Market. These stocks may be less liquid and the price swings greater than those in, for example, larger companies.
• 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. 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 Morningstar OBSR Analyst Rating™ is subjective in nature and reflects Morningstar OBSR's current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, Morningstar OBSR does not guarantee that a fund will perform in line with its Morningstar OBSR Analyst Rating.
For more information (including prices) and to explore all of the Fund's share classes in more detail please visit our interactive fund centre.
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.