Liontrust UK Micro Cap Fund | What we offer | Liontrust Asset Management PLC
Liontrust - Economic Advantage

UK Micro Cap Fund

Anthony Cross, Julian Fosh, Victoria Stevens & Matt Tonge

The Fund

The Fund has been managed since launch in March 2016 by Anthony Cross, Julian Fosh, Victoria Stevens and Matt Tonge and seeks to invest in profitable, UK headquartered companies with high managerial ownership and a market capitalisation of under £150 million. The fund managers use the Economic Advantage investment process to try to identify companies with a  durable competitive advantage, allowing them to defy industry competition and sustain a higher than average level of profitability for longer than expected.

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The Economic Advantage team

Liontrust Economic Advantage team
Anthony Cross, Julian Fosh, Victoria Stevens & Matt Tonge

Anthony Cross and Julian Fosh have won multiple awards and have 55 years of combined investment experience. Anthony was previously at Schroders and Julian was at Saracen Fund Managers. Victoria Stevens was previously deputy head of corporate broking at FinnCap and Matt Tonge was formerly an award winning trader.

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The Economic Advantage Process

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.

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3 success stories and 3 to watch

Matt Tonge

18 months on from the Fund’s launch, Matt Tonge takes a look at three ‘success stories’ which have already graduated from the micro cap space and highlights three ‘ones to watch’ from the companies the team has bought so far this year. Read more

Ratings

FE Alpha Manager 2017 - Anthony Cross
Anthony Cross
FE Alpha Manager 2017
FE Alpha Manager 2017 - Julian Fosh
Julian Fosh
FE Alpha Manager 2017
Citywire Group rating - silver
Liontrust UK Micro Cap Fund
Citywire Group Rating

Latest fund update

UK Micro Cap

Read the latest update for the Liontrust UK Micro Cap Fund.


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FE Alpha Manager 2015 - Best in UK Equity - Anthony Cross
Anthony Cross & Julian Fosh
FE Alpha Manager 2015 - Best in UK Equity
Citywire rated AAA
Anthony Cross & Julian Fosh
Citywire Manager rating: AAA

Performance

Discrete performance

30-09-2016 -
30-09-2017
30-09-2015 -
30-09-2016
30-09-2014 -
30-09-2015
30-09-2013 -
30-09-2014
30-09-2012 -
30-09-2013
Liontrust UK Micro Cap 22.48% N/A N/A N/A N/A
IA UK Smaller Companies 25.00% N/A N/A N/A N/A
Liontrust UK Micro Cap
IA UK Smaller Companies
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust UK Micro Cap 7.51% 23.30% N/A N/A N/A 34.00%
IA UK Smaller Companies 11.69% 28.72% N/A N/A N/A 40.43%
To previous working day
Liontrust UK Micro Cap
IA UK Smaller Companies

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.  • 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. Discrete performance data is not available for five full 12 month periods due to the launch date of the portfolio. 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.

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Key fund information

  • Launch date09/03/2016
  • IA sectorIA UK Smaller Companies
  • Fund size£23,504,500.00
  • Number of holdings61
  • Historic yield0.00%

Fund size and number of holdings 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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