The Fund
Dan Ekstein of the Liontrust Global Fundamental team is manager of the Income Fund, supported by deputy portfolio manager Sam Bealing. The Fund aims to deliver a net target yield of at least the net yield of the FTSE All Share index every year, with the potential for long term (5 years or more) capital growth. The Fund is constructed using a distinctive, flexible style encompassing elements of Growth and Value investing. This helps mitigate style bias and produces balanced portfolios, with a potential to perform across different market and economic cycles.
You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.
Awards and Ratings
Morningstar Rating: 4
RSMR Rated Fund
Meet the team
Dan Ekstein joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management, where he was an Equity Analyst for three years. Prior to joining Majedie in 2019, Dan worked at UBS Investment Bank where he was Head of European Food Retail Equity Research and previously a Director of Oil & Gas Equity Research. Sam joined Liontrust in May 2022. Prior to joining Liontrust, Sam worked at UBS Investment Bank where he was a Director on the Specialist Equity Sales team covering Small & Midcaps and Real Estate.
Our investment strategy
In this video, fund managers Dan Ekstein and Sam Bealing talk through their investment strategy for the Liontrust Income Fund.
They explain how they aim to achieve the Fund’s goal of generating a consistently attractive, growing dividend stream alongside long-term returns and capital appreciation. This is by investing in durable Quality dividend stocks, evidenced through Competitive Powers – a strategy adopted by the team from Hamilton Helmer.
Performance
Performance since manager inception date (%)
Discrete performance (%)
| As at previous quarter 12 months ending: | Mar 24 | Mar 23 | Mar 22 | Mar 21 | Mar 20 |
|---|---|---|---|---|---|
| Liontrust Income | 10.1 | 2.8 | 14.1 | 27.9 | -18.4 |
| FTSE All Share | 8.4 | 2.9 | 13.0 | 26.7 | -18.5 |
| IA UK Equity Income | 7.6 | 0.2 | 10.8 | 32.6 | -20.6 |
| Quartile Ranking | 1 | 2 | 1 | 3 | 2 |
Cumulative performance (%)
| As at previous day end | 1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 10 years | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| Liontrust Income | 2.1 | 9.4 | 14.9 | 6.0 | 8.0 | 24.9 | 29.3 | 96.4 | 453.3 |
| FTSE All Share | 1.5 | 7.5 | 11.9 | 4.7 | 5.9 | 22.9 | 27.6 | 75.0 | 392.8 |
| IA UK Equity Income | 2.5 | 6.7 | 13.9 | 3.8 | 6.4 | 17.8 | 23.4 | 62.8 | 353.1 |
| Quartile Ranking | 3 | 1 | 2 | 1 | 2 | 1 | 2 | 1 | - |
Source: FE fundinfo as at 24/04/2024. Performance figures are shown in GBX. Total return performance figures are calculated net of costs and charges, on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Where applicable the quartile rank is for the primary share class within the sector. If your investment is made in a currency other than that used in the past performance calculation the return may increase or decrease as a result of currency fluctuations.
Current positioning
Top 10 Holdings (%)
For more information on the OCF, see our costs and charges page.
Fund Manager Insights
How to invest in Liontrust funds
Key Risks
Past performance does not predict future returns. You may get back less than you originally invested. Bonds are affected by changes in interest rates and their value and the income they generate can rise or fall as a result; the creditworthiness of a bond issuer may also affect that bond's value. Bonds that produce a higher level of income usually also carry greater risk as such bond issuers may have difficulty in paying their debts. The value of a bond would be significantly affected if the issuer either refused to pay or was unable to pay. This Fund may have a concentrated portfolio. If one of these investments or sectors / factors fall in value this can have a greater impact on the Fund's value than if it held a larger number of investments across a more diversified portfolio. The Fund may encounter liquidity constraints from time to time. The spread between the price you buy and sell shares will reflect the less liquid nature of the underlying holdings. Outside of normal conditions, the Fund may hold higher levels of cash which may be deposited with several credit counterparties (e.g.international banks). A credit risk arises should one or more of these counterparties be unable to return the deposited cash. Counterparty Risk: any derivative contract, including FX hedging, may be at risk if the counterparty fails. ESG Risk: In reference to any component (where applicable) of a fund's investment process that uses external ESG data, there may be limitations to the availability, completeness or accuracy of ESG information from third-party providers, or inconsistencies in the consideration of ESG factors across different third party data providers, given the evolving nature of ESG. There is no guarantee that an absolute return will be generated over a three year time period or within another time period. The level of income is not guaranteed.
Disclaimer
This is a marketing communication. Before making an investment, you should read the relevant Prospectus and the Key Investor Information Document (KIID) and/or PRIIP/KID, which provide full product details including investment charges and risks. It should not be construed as advice for investment in any product or security mentioned, an offer to buy or sell units/shares of Funds mentioned, or a solicitation to purchase securities in any company or investment product. Examples of stocks are provided for general information only to demonstrate our investment philosophy. The investment being promoted is for units in a fund, not directly in the underlying assets. This information and analysis is believed to be accurate at the time of publication, but is subject to change without notice. Whilst care has been taken in compiling the content, no representation or warranty is given, whether express or implied, by Liontrust as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified.
