Liontrust

A UK equity unit trust managed for long-term capital growth through investment
in a portfolio of smaller companies

The Liontrust Intellectual Capital Trust is managed by Anthony Cross
in accordance with his UK smaller companies investment process,
The Cross Report. It invests in a portfolio of 60-80 stocks from the
FTSE Small Cap., Fledgling and AIM Indices. Companies must
demonstrate that their Intellectual Capital will sustain their competitive
edge, and that directors own at least 3% of the listed equity.

Anthony’s strict risk regime:
• A balance is maintained between industry sectors
• Each company is given a portfolio weighting based upon risks such as customer spread and
financial gearing.

Download the Fund’s latest fact sheet Cross Words (PDF) or view the Fund literature archive.

Investment objective: to provide long-term capital growth by investing primarily in smaller UK companies displaying a high degree of Intellectual Capital and employee motivation through equity ownership in their business model.

To achieve this aim, the Fund will invest in a portfolio of UK smaller companies’ shares, the majority
of which are contained within the FTSE Small Cap., the FTSE Fledgling and the AIM indices.
Companies within the Fund that graduate into the FTSE 250 Index will be held until a suitable replacement company is found.

Initial charge	5%
Annual management fee	1.5%
MINIMUM INVESTMENTS
Unit trust	Initial: £2,500 Additional: £1,000
PEP & ISA	Initial: £1,000 Additional: £1,000
Regular savings (ISA only)	From £50 per month
Ex-dividend date	1 May
Payment date	30 June
Launch date	08.01.98
Fund Manager	Anthony Cross (since launch)
Benchmark	FTSE Small Cap. (ex IT) Total Return Index
IMA sector	UK Smaller Companies

Click here for the Fund’s
latest prices, yield and size.

March '08
Ten Year Review

Latest fact sheet
Cross Words

Latest Manager's
Short Report

Latest Manager's
Long Report & Accounts

Click here to view Fund fact sheets and Manager's Reports

Full details on how to invest can be found in the Simplified Prospectus.

To buy units in the Fund, send us a completed unit trust application form together
with a cheque for your investment.

Existing investors and authorised intermediaries can place investment deals by
telephone with our dealers on 020-7964 4774.

Liontrust PEP & ISA investments
Hard copies can be ordered via our on-line order form or by calling the Liontrust Broker
Services team on 020-7412 1766 (8:30 am - 6:00 pm) and by e-mail at info@liontrust.co.uk.

Liontrust's standard terms of business apply.

Fund Strategy
'No fear for Liontrust's intellectual '

'The strength of owner-manager companies '

"There's power in the people" says Anthony Cross

Read the full article in

- the Liontrust magazine