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Global Fundamental team

Meet the team

Headed by James de Uphaugh, the Global Fundamental team has a strong track record of active management of equities for institutional investors, intermediaries and their clients since 2002. The team’s offering initially focused on UK equities but expanded in 2007 to include a global long/short equity fund and again in 2014 to include US, Global and International equities strategies. The appointment of James de Uphaugh as lead manager of the Edinburgh Investment Trust in 2020 demonstrates the reputation and investment acumen of the Global Fundamental team. Following the acquisition of Majedie Asset Management in 2022, the team brought their funds and expertise to Liontrust. 


 

James de Uphaugh
James de Uphaugh
James de Uphaugh joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where he was Chief Investment Officer and Fund Manager. James de Uphaugh
Thomas Smith
Thomas Smith
Thomas joined Liontrust in October 2019 as part of the acquisition of Neptune Investment Management, where he started his investment career. Thomas has a Master’s degree in Chemistry from Oxford University. Read more
Ewan Thompson
Ewan Thompson
Ewan joined Liontrust in October 2019 as part of the acquisition of Neptune Investment Management, where he started his investment career. Prior to joining Neptune in 2006, he worked as an editor for Yale University Press.  Read more
Hong Yi Chen
Hong Yi Chen

Hong Yi Chen manages the US Equity Fund and US Opportunities Fund, and is Co-Fund Manager of the Global Equity, Global Focus, Global Balanced, Global Alpha and Global Smaller Companies funds. Hong joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where he was an Equity Analyst and Co-Fund Manager for 12 years and is a member of the Global Fundamental team.

Hong holds a Bachelor of Arts degree in Economics from Gonville and Caius College, Cambridge and is a CFA Charterholder.

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Imran Sattar
Imran Sattar
Imran Sattar joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where he was a Fund Manager for four years. Read more
Tom Hosking
Tom Hosking

Tom joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management, where he was an Equity Analyst and Co-Fund Manager for eight years and is a member of the Liontrust Global Fundamental team.

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Dan Ekstein
Dan Ekstein
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. Read more
Emily Barnard
Emily Barnard
Emily Barnard joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where she was an Equity Analyst for six years. Read more
Ruth Chambers
Ruth Chambers
Ruth joined Liontrust in October 2019 as part of the acquisition of Neptune Investment Management. Prior to joining Neptune, Ruth was a field engineer for Schlumberger before working as an oil & gas equity research associate for Bank of Montreal. Read more
Tinger Wen
Tinger Wen
Tinger Wen joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where he was an Equity Analyst for five years. Read more
Sam Bealing
Sam Bealing
Sam Bealing is a Fund Manager on the Global Fundamental team and 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. Read more

Our investment process

At the core of the team’s investment approach is deep, fundamental research driven by original thinking to find share price inflection points that can drive long-term performance.
The team is able to invest across sectors and markets and pays particular attention to ESG risks and opportunities as part of the investment process.
Digital technology underpins the research platform, and the team is structured to foster a robust and honest environment rich in dialogue and debate. 

Funds managed by the team

The team take a flexible and pragmatic approach, investing across sectors and across markets with a focus on sustainability.

Funds managed by the team

Edinburgh Investment Trust 456x256
Global Fundamental

Edinburgh Investment Trust plc

Edinburgh Investment Trust, which was launched in 1889, offers a high-conviction portfolio of UK equities. James de Uphaugh aims to deliver long-term added value regardless of economic and market conditions.

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UK Equity
Global Fundamental

UK Equity Fund

The Fund is managed by Imran Sattar from the Liontrust Global Fundamental team. It aims to generate capital growth over the long term through an actively managed UK equities portfolio.

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UK Focus
Global Fundamental

UK Focus Fund

The Fund is managed by Imran Sattar from the Liontrust Global Fundamental team. The Fund aims to generate capital growth over the long term through a concentrated, actively managed UK equities portfolio.

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Global Equity
Global Fundamental

Global Equity Fund

The Liontrust Global Equity Fund is managed by Tom Hosking and Hong Yi Chen. The Fund, launched in 2014, aims to deliver a total return after costs and charges, combining income and capital growth, in excess of the benchmark over any five-year period.

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Global Focus
Global Fundamental

Global Focus Fund

The Liontrust Global Focus Fund is managed by Tom Hosking and Hong Yi Chen. The Fund, launched in 2014, is a concentrated global equities portfolio and aims to deliver a total return after costs and charges, combining income and capital growth, in excess of the benchmark over any five-year period.

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GF International Equity
Global Fundamental

GF International Equity Fund

Managed by Tom Hosking of the Liontrust Global Fundamental team, the Irish-domiciled Fund is a high conviction portfolio, which captures emerging and developed market opportunities (largely excluding the US) and aims to produce a total return over the long term.

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GF UK Equity
Global Fundamental

GF UK Equity Fund

The Fund is managed by Imran Sattar from the Liontrust Global Fundamental team. It aims to generate capital growth over the long term through an actively managed UK equities portfolio.

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GF US Equity
Global Fundamental

GF US Equity Fund

Managed by Hong Yi Chen of the Liontrust Global Fundamental team, the Irish domiciled Fund aims to produce capital growth over the long term through investment in a diversified portfolio of primarily US equities.

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Income Fund
Global Fundamental

Income Fund

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.

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US Opportunities Fund
Global Fundamental

US Opportunities Fund

The Fund seeks to identify companies that will be the beneficiaries of digitalisation in the US and invest across three different categories of these beneficiaries: the disruptors, embracers and enablers.

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Balanced Fund
Global Fundamental

Balanced Fund

The Liontrust Balanced Fund is managed by Tom Hosking and Hong Yi Chen. The Fund aims to generate capital growth over the long term (5 years or more) with the potential for income through investing in global equities and bonds.

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China Fund
Global Fundamental

China Fund

The Fund seeks to invest in Emerging Leaders equities, which are companies with the resources and capabilities to survive and prosper given the huge levels of disruption across the economy in China.

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Emerging Markets Fund
Global Fundamental

Emerging Markets Fund

The Fund seeks to identify Emerging Leaders equities, which are companies with the resources and capabilities to survive and prosper given the huge levels of disruption across emerging markets economies.

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Global Alpha Fund
Global Fundamental

Global Alpha Fund

The Liontrust Global Alpha Fund is managed by Tom Hosking and Hong Yi Chen. The Fund aims to generate capital growth over the long term (5 years or more). The Fund invests in global equities and has the ability to hold fixed income and alternatives.

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Global Smaller Companies Fund
Global Fundamental

Global Smaller Companies Fund

The Liontrust Global Smaller Companies Fund is managed by Tom Hosking and Hong Yi Chen. The Fund aims to generate capital growth over the long term (5 years or more). The Fund invests at least 80% of the portfolio in shares of small sized companies across the world. These are companies which, at the time of purchase, have a market capitalisation of under £10 billion.

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India Fund
Global Fundamental

India Fund

The Fund seeks to identify Emerging Leaders equities, which are companies with the resources and capabilities to survive and prosper given the huge levels of disruption across the economy in India.

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Japan Equity Fund
Global Fundamental

Japan Equity Fund

The Fund seeks to identify Industry Leaders via a sector-by-sector analysis process, investing in companies that dominate their global industry. These stocks have exposure to faster growing regions, such as emerging markets.

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Latin America Fund
Global Fundamental

Latin America Fund

The Fund seeks to identify Emerging Leaders equities, which are companies with the resources and capabilities to survive and prosper given the huge levels of disruption across Latin American economies.

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Russia Fund
Global Fundamental

Russia Fund

The Fund seeks to identify Emerging Leaders equities, which are companies with the resources and capabilities to survive and prosper given the huge levels of disruption across the economy in Russia.

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“Our flexible approach has stood the test of time for good reason. It provides scope to invest across the market where opportunities arise and valuations dictate.”

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