The Economic Advantage team | Who we are | Liontrust Asset Management PLC
Economic Advantage team

The Economic Advantage team

Anthony Cross, Julian Fosh, Victoria Stevens, Matt Tonge & Alex Wedge

The team

Anthony Cross (centre-left), Julian Fosh (centre-right), Victoria Stevens (right), Matt Tonge (left) and Alex Wedge (not pictured) manage the Liontrust Economic Advantage Process. 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.

Victoria Stevens and Matt Tonge joined the team in 2015 to research and analyse investment opportunities primarily across the small cap universe. In Victoria’s previous role as deputy head of corporate broking at FinnCap, she built up an extensive knowledge of the smaller company investment universe. Matt added trading and analytical expertise to the team, having spent the previous nine years on the Liontrust dealing desk, latterly winning an industry award for his work in mid and small cap stocks. 

Alex Wedge joined the team in March 2020 from N+1 Singer, one of the largest dedicated small cap brokers in London. Alex spent over seven years at N+1 Singer, latterly as a senior member of the equity sales team. His role included developing and communicating investment ideas to buy side clients, as well as advising corporate clients on shaping their investment case and raising equity capital.

The Economic Advantage team

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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Why we have invested in IMI

Julian Fosh

The stockmarket setback in March allowed the Economic Advantage... Read more

Awards and ratings

FE Alpha Manager 2018 - Anthony Cross
Anthony Cross
FE Alpha Manager 2020
FE Alpha Manager 2018 - Julian Fosh
Julian Fosh
FE Alpha Manager 2020
FE Alpha Manager 2017 - Best UK Smaller Companies Manager
Anthony Cross & Julian Fosh
FE Alpha Manager Awards 2017

Best UK Smaller Companies Manager

Citywire rated AAA
Anthony Cross
Citywire Manager rating: AAA
Citywire rated AAA
Julian Fosh
Citywire Manager rating: AAA
Citywire rated AAA
Victoria Stevens
Citywire Manager rating: AAA
Citywire rated AAA
Matt Tonge
Citywire Manager rating: AAA

Latest fund updates

The Economic Advantage team

Read the latest fund updates from the Economic Advantage team.
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FT Adviser 100 Club Awards 2019
FT Adviser 100 Club Awards 2019
UK Smaller Companies Fund of the Year
Morningstar Awards 2019
Liontrust Special Situations Fund
Morningstar Awards 2019 Best UK Equity Fund
AJ Bell Fund & Investment Trust Awards 2018
Liontrust Special Situations Fund
AJ Bell Fund & Investment Trust Awards 2018
Overall winner: UK Equity - Active
Fund Calibre Elite Provider - Equities
FundCalibre Elite Provider
Special Situation, UK Smaller Companies
& UK Micro Cap funds
Money Observer Fund Awards - Best Larger UK Growth Fund - Liontrust Special Situations
Liontrust Special Situations Fund
Money Observer Fund Awards 2017
Best Larger UK Growth Fund
Portfolio Adviser Fund Awards 2017
Liontrust Special Situations Fund
Portfolio Adviser Fund Awards 2017
Gold UK Equity
Liontrust Special Situations - 2017 AJ Bell Fund & Investment Trust Awards
Liontrust Special Situations Fund
AJ Bell Fund & Investment Trust Awards 2017
Overall winner - UK Equity

UK domiciled  

Non-UK domiciled  

Key Risks

Past performance is not a guide to future performance. Do remember that the value of an investment and the income generated from them can fall as well as rise and is not guaranteed, therefore, you may not get back the amount originally invested and potentially risk total loss of capital. Some of the Funds managed by the Economic Advantage team invest primarily 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 performance of the  GF UK Growth Fund may differ from the performance of the  UK Growth Fund and will be lower than its corresponding Master Fund due to additional fees and expenses.

Disclaimer

The information and opinions provided 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.  Always research your own investments and (if you are not a professional or a financial adviser) consult suitability with a regulated financial adviser before investing.

 

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. © 2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  Past performance is no guarantee of future results.

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