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Emerging Markets Fund

Fund launch date 29/09/2008
Fund size £8,380,883.26
Number of holdings 46
Run by current manager for 15 years
Currently viewing:

The Fund

The Fund is managed by Ewan Thompson, Thomas Smith and Ruth Chambers. It aims to generate capital growth over the long term (5 years or more). The Fund invests at least 80% in shares of emerging market companies. These are companies in countries which, at the time of purchase, appear anywhere in the MSCI Emerging Markets Index.

You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.

Past performance does not predict future returns. You may get back less than you originally invested. Reference to specific securities is not intended as a recommendation to purchase or sell any investment.
Key Information
Manager Inception Date of Fund
30/09/2008
Class Launch Date
03/10/2012
Comparator Benchmark 1
MSCI Emerging Markets
Comparator Benchmark 2
IA Global Emerging Markets
Price
Single Price
168.230p
Offer Price
-
Price Date
19/04/2024

Meet the team

Ruth, Ewan and Thomas moved to Liontrust as part of the acquisition of Neptune Investment Management in October 2019. Prior to joining Neptune, Ruth was a field engineer for Schlumberger before working as an oil & gas equity research associate for Bank of Montreal. She has a Masters Degree in Earth Sciences from Oxford University. Prior to joining Neptune in 2006, Ewan worked as an editor for Yale University Press. Ewan graduated from Oxford University in 2003 with a degree in English. Thomas has a Master’s degree in Chemistry from Oxford University.

Meet the tea

Our Investment Process

The fund managers believe the key to generating outperformance is through high conviction, long-term, research-led company selection.
The Liontrust Emerging Markets Fund focuses on Emerging Leaders – companies well positioned to prosper in a world of rapid change. Importantly, given many disruptive products and business models have arisen in developed markets, their introduction and adoption rates across emerging markets are driving considerable growth at a consumer and commercial level.
Therefore, Emerging Leaders alone have the resources and capabilities to survive and prosper given the huge levels of disruption seen across the whole economy.

A common feature is their ability to create value for customers (either via a lower price and/or higher quality product and management that are focused on driving continuous improvement) and capture value for itself and its shareholders via a sustaining moat (such as unique assets, efficient scale, technology leadership, R&D investment and customer switching costs).

The Fund is ‘focused’, containing relatively fewer holdings than those included in their benchmark indexes because the stocks are selected based on the high convictions of the investment team. Whether Fund outperforms or underperforms its benchmark depends on the investment team’s stock selections. While the Fund chooses stocks based on a long-term view of three to five years, they may underperform over the shorter periods because of short-term challenges.

Past performance does not predict future returns. You may get back less than you originally invested. Reference to specific securities is not intended as a recommendation to purchase or sell any investment.

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 Emerging Markets 12.9 -10.5 -12.3 47.7 -16.2
IA Global Emerging Markets 6.0 -4.4 -8.7 46.8 -15.4
MSCI Emerging Markets 5.9 -4.9 -7.1 42.3 -13.5
Quartile Ranking 1 4 3 3 3

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 Emerging Markets 0.4 8.3 10.4 5.0 9.2 -14.9 2.1 81.5 157.6
IA Global Emerging Markets 0.2 5.8 7.0 1.7 4.9 -9.9 9.0 65.6 150.6
MSCI Emerging Markets 0.1 6.0 6.3 1.1 4.2 -9.5 8.9 70.9 165.4
Quartile Ranking 1 1 1 1 1 3 3 2 -

Source: FE fundinfo as at 19/04/2024. 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 (%)

SAMSUNG ELECTRONICS CO., LTD
6.81
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
4.24
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
3.91
SK HYNIX
3.46
BANK OF CHINA h
3.09
FINOLEX INDUSTRIES
2.87
TRIP.COM GROUP LIMITED
2.78
MEDIATEK
2.71
New Oriental Educat.&Techn.Grp Reg.Shs (Spons ADRs)/1 DL -,01
2.60
INTERNATIONAL CONTAINER TER SER INC
2.56

Sector Breakdown (%)

Information Technology
25.69
Financials
21.66
Consumer Discretionary
12.09
Industrials
11.62
Communications
5.99
Materials
5.42
Health Care
4.49
Consumer Staples
4.24
Utilities
3.33
Energy
2.63
Real Estate
2.09
Money Market
0.70
Oil & Gas
0.01

Geographic Breakdown (%)

India
18.27
Korea
17.92
China
15.37
Taiwan
14.71
Brazil
10.50
Indonesia
6.72
Mexico
6.34
Philippines
4.34
USA
2.60
Hong Kong
2.48
Cash & Cash Equivalents
0.70
Russia
0.01
Additional Information
Minimum initial investment
£250,000
Minimum additional investment
£0
Ex-dividend date
1st January
Distribution date
28 February (Final)
Sedol code
B8J6SV1
ISIN code
GB00B8J6SV12
Charges
Initial charge
-
Ongoing Charges Figure
0.89%
Included within the OCF is the Annual Management Charge
0.75%

For more information on the OCF, see our costs and charges page.

Fund Manager Insights

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Nearshoring offers golden opportunity for Mexican economy Fund manager Thomas Smith takes a look at the unique opportunity for the Mexican economy from nearshoring as a broad range of sectors and companies stand to benefit from supply chain reorganisation
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India’s interim budget – laying the foundations for long-term growth India’s budget announcement reveals a confident and assured government
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The investment opportunity in India's healthcare sector Fund Manager Ewan Thompson looks at the exciting investment opportunities in India’s healthcare sector.
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India targets demographic dividend India targets 'demographic dividend' as most populous nation
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Insights 7

How to invest in Liontrust funds

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Key Risks 

Past performance does not predict future returns. You may get back less than you originally invested. The issue of units/shares in Liontrust Funds may be subject to an initial charge, which will have an impact on the realisable value of the investment, particularly in the short term. Investments should always be considered as long term. 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. Investments in emerging markets may involve a higher element of risk due to less well-regulated markets and political and economic instability. This may result in higher volatility and larger drops in the value of the fund over the short term. 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.

 

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.

Fund literature
Emerging Markets Fund
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