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GF Global Alpha Long Short Fund

Single Price $24.019 as of 07/08/2025
Fund launch date 24/01/2025
Fund size $34,947,024.15
Number of holdings 87

The Fund

The Liontrust GF Global Alpha Long Short Fund is managed by Mark Hawtin and David Goodman. The Fund seeks to deliver capital appreciation over the long term by taking long, synthetic long and synthetic short positions, primarily in global equities and equity related derivatives.

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

Read latest fund update
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
24/01/2025
Managed by Current Team for
7 months
Class Launch Date
24/01/2025
ISIN code
IE000AAYYRU0

Meet the team

Mark Hawtin and David Goodman joined Liontrust from GAM Investments in 2024. Mark has 40 years of investment experience, was Investment Director and Head of Global Equities at GAM, having previously been a partner and portfolio manager at Marshall Wace Asset Management. At GAM David was responsible for applying technical analysis to assist with portfolio construction and risk management, having previously held numerous senior positions at such companies as SEB, Marshall Wace, Instinet Alpha and Pali International.

Meet the tea
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 class launch date (%)

Discrete performance (%)

As at previous quarter 12 months ending: Jun 25 Jun 24 Jun 23 Jun 22 Jun 21
Liontrust GF Global Alpha Long Short 13.6 20.1 -10.2 -3.5 45.8
FRB of New York Secured Overnight Financial Rate 4.7 5.3 3.8 0.2 0.1
Quartile Ranking 1 1 4 3 1

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 GF Global Alpha Long Short 1.2 7.4 9.3 13.5 14.4 20.6 57.9 159.3 140.2
FRB of New York Secured Overnight Financial Rate 0.3 1.1 2.1 2.6 4.5 14.7 15.2 - 19.9
Quartile Ranking 2 1 1 1 1 2 1 1 -

Source: FE fundinfo as at 08/08/2025. Performance figures are shown in USD. 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 (%)

TREASURY BILL
6.99
THE UNITED ST TBIP % 19Mar26
6.95
PLUS500 LTD
3.62
SEAGATE TECHNOLOGY HLDGS PLC
3.13
SNOWFLAKE INC
3.10
ROLLS-ROYCE HLDGS PLC
3.05
UBER TECHNOLOGIES, INC.
2.63
BROADCOM INC
2.52
ALPHABET INC
2.51
T-MOBILE US, INC.
2.47

Sector Breakdown (%)

Money Market
45.01
Government Bonds
13.94
Information Technology
11.84
Financials
9.43
Communications
7.15
Industrials
5.37
Consumer Discretionary
3.78
Health Care
2.67
Real Estate
1.09
Materials
0.59
Others
0.09
Consumer Staples
-1.02

Geographic Breakdown (%)

Cash & Cash Equivalents
45.01
USA
38.39
China
6.33
India
3.79
Canada
2.94
Japan
2.79
UK
2.54
Netherlands
1.64
Singapore
1.08
Germany
0.93
Israel
0.62
Italy
0.52
Norway
0.40
France
-0.63
Denmark
-0.87
Switzerland
-2.61
Sweden
-2.95

Key Features of the Fund

The Fund seeks to deliver capital appreciation over the long term by taking long, synthetic long and synthetic short positions, primarily in global equities and equity related derivatives. The Fund is considered to be actively managed in reference to the benchmark(s) in the performance table by virtue of the fact that it uses the benchmark(s) for performance comparison purposes. The benchmark(s) are not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the benchmark. The Fund may invest anywhere in the world but will primarily invest in global companies either directly or via derivatives. There is no policy to restrict investment to particular economic sectors. The Fund may use financial derivative instruments for investment purposes and for efficient portfolio management (including hedging). The Fund will take both long and short positions in derivatives meaning the gross exposure of the Fund will typically be greater than 100% of the net asset value of the Fund. The Investment Adviser will alter the ratio of long and short exposures in the Fund depending on the Investment Adviser's confidence in the investment process' ability to generate returns from the long and short positions. The net market exposure from a combination of the Fund's long and short positions will vary depending on market conditions and the Fund can potentially go either net long or net short. Where investments are held in a currency other than the base currency, the exposure to currency risk may be minimised by hedging. Income from the Fund's investments is reinvested.
5 years or more.
5 (Please refer to the Fund PRIIP KID for further detail on how this is calculated)

Active
The Fund is considered to be actively managed in reference to the following benchmarks by virtue of the fact that it uses them for performance comparison purposes:

  • the Secured Overnight Financing Rate (SOFR) (for Hedged Share Classes, the currency equivalent that corresponds with the relevant Share Class currency is used); and 
  • the HFRX Equity Hedge (USD) Index. 

Neither benchmark is used to define the portfolio composition of the Fund or as a performance target. The Fund may be wholly invested in securities which are not constituents of the benchmarks.

The HFRX Equity Hedge (USD) Index is designed to be representative of the overall composition of the equity hedge segment of the hedge fund universe and is denominated in US dollars.
 
Additional Information
Minimum initial investment
$20,000,000
Minimum additional investment
$1,000
Ex-dividend date
Distribution date
Sedol code
BRZWG01
Charges
Initial charge
-
Ongoing Charges Figure
0.96%
Included within the OCF is the Annual Management Charge
0.75%

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

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How to invest in Liontrust funds

Through a fund platform
Through a financial adviser
Direct with Liontrust

Key Risks

Past performance does not predict future returns. You may get back less than you originally invested. 
We recommend this fund is held long term (minimum period of 5 years). We recommend that you hold this fund as part of a diversified portfolio of investments

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.

Overseas investments may carry a higher currency risk. They are valued by reference to their local currency which may move up or down when compared to the currency of the Fund. The Fund can invest in derivatives. Derivatives are used to protect against currency, credit or interest rate moves or for investment purposes. There is a risk that losses could be made on derivative positions or that the counterparties could fail to complete on transactions. The Fund uses derivative instruments that may result in higher cash levels. Outside of normal conditions, the Fund may choose to hold higher levels of cash. Cash may be deposited with several credit counterparties (e.g. international banks) or in shortdated bonds. A credit risk arises should one or more of these counterparties be unable to return the deposited cash. The Fund’s volatility limits are calculated using the Value at Risk (VaR) methodology.  In high interest rate environments the Fund’s implied volatility limits may rise resulting in a higher risk indicator score.  The higher score does not necessarily mean the Fund is more risky and is potentially a result of overall market conditions. The Fund may invest in emerging markets which carries a higher risk than investment in more developed countries. This may result in higher volatility and larger drops in the value of the fund over the short term. Certain countries, including China, have a higher risk of the imposition of financial and economic sanctions on them which may have a significant economic impact on any company operating, or based, in these countries and their ability to trade as normal. Any such sanctions may cause the value of the investments in the fund to fall significantly and may result in liquidity issues which could prevent the fund from meeting redemptions. The Fund may invest in smaller companies and may invest a small proportion (less than 10%) of the Fund in unlisted securities. There may be liquidity constraints in these securities from time to time, i.e. in certain circumstances, the fund may not be able to sell a position for full value or at all in the short term. This may affect performance and could cause the fund to defer or suspend redemptions of its shares. 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. There is no guarantee that an absolute return will be generated over any time period. The Fund may have both Hedged and Unhedged share classes available. The Hedged share classes use forward foreign exchange contracts to protect returns in the base currency of the Fund. ESG Risk: 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. Investors in share classes with a performance fee will pay a variable performance fee amount that is based on the performance of the underlying share class, which is likely to result in different total fees being charged each year and, during periods of outperformance, higher total fees than that of a share class with no performance fee. A performance fee may be payable in case the share class has outperformed its benchmark but had a negative performance.

 

Disclaimer

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.

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. These documents can be obtained free of charge direct from Liontrust website. If you are not a professional investor please consult a regulated financial adviser regarding the suitability of such an investment for you and your personal circumstances.

Fund literature
GF Global Alpha Long Short Fund
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Application and transfer forms Liontrust Global Funds plc Application Form