The Fund
The Fund was launched in November 2012 and has been managed since launch by Anthony Cross and Julian Fosh. The Fund can invest in any companies in the FTSE All-Share Index regardless of their size or sector, enabling the managers to find the best opportunities wherever they are across the UK stock market. The fund managers use the Economic Advantage investment process to identify companies with 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.
Awards and ratings
Citywire Manager Rating: A
Morningstar Rating: 5
Morningstar Sustainability Rating: 4
Meet the team
Anthony Cross joined Liontrust in 1997 and launched the Liontrust UK Smaller Companies Fund in 1998. Anthony joined Schroder Investment Management as a graduate trainee, later becoming an equity analyst before joining the Smaller Companies team in 1994. Julian Fosh joined Liontrust in 2008 from Saracen Fund Managers to co-manage the Economic Advantage Funds, Julian has also previously headed the investment department at Scottish Friendly Assurance Society and worked at Britannia Investment Managers and Scottish Amicable.
Performance
Performance since manager inception date (%)
Discrete performance (%)
| As at previous quarter 12 months ending: | Mar 22 | Mar 21 | Mar 20 | Mar 19 | Mar 18 |
|---|---|---|---|---|---|
| Liontrust GF Special Situations | 3.2 | 28.2 | -11.6 | 7.7 | 6.2 |
| FTSE All Share | 13.0 | 26.7 | -18.5 | 6.4 | 1.2 |
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 GF Special Situations | -3.0 | -6.3 | -11.9 | -12.6 | -3.4 | 8.5 | 24.8 | - | 103.4 |
| FTSE All Share | -2.4 | -3.1 | -0.6 | -1.2 | 6.9 | 15.6 | 20.5 | - | 90.6 |
Current positioning
Top 10 Holdings (%)
| SHELL PLC | 4.10 |
|---|---|
| DIAGEO PLC | 4.01 |
| RELX PLC | 3.99 |
| BP | 3.98 |
| GLAXOSMITHKLINE | 3.97 |
| SAGE GROUP | 3.63 |
| ASTRAZENECA PLC | 3.20 |
| COMPASS GROUP PLC | 3.16 |
| PAGEGROUP PLC | 2.85 |
| RECKITT BENCKISER GROUP PLC | 2.82 |
Sector Breakdown (%)
| Industrials | 25.83 | |
|---|---|---|
| Consumer Discretionary | 18.10 | |
| Financials | 10.09 | |
| Technology | 10.07 | |
| Energy | 9.96 | |
| Health Care | 9.72 | |
| Consumer Staples | 9.43 | |
| Real Estate | 2.92 | |
| Money Market | 2.11 | |
| Telecommunications | 1.72 |
Geographic Breakdown (%)
| UK |
97.88
|
|---|---|
| Money Market |
2.11
|
Key features of the Fund
The investment objective of the Fund is to provide long-term capital growth by investing in mainly UK equities using the Economic Advantage investment process. The Fund invests at least 80% in companies traded on the UK and Irish stock exchanges. The Fund is not restricted in choice of investment in terms of company size or sector. The Fund has 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.
How to invest in Liontrust funds
Key Risks
Past performance is not a guide to future performance. The value of an investment and the income generated from it can fall as well as rise and is not guaranteed. 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.
A proportion of the portfolio is invested 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.
Disclaimer
This is a marketing communication. Before making an investment, you should read the relevant Prospectus and the Key Investor Information Document (KIID), which provide full product details including investment charges and risks. These documents can be obtained, free of charge, from www.liontrust.co.uk or direct from Liontrust. Always research your own investments. 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.
This 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. It contains information and analysis that 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 of this document, no representation or warranty, express or implied, is made by Liontrust as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified. It should not be copied, forwarded, reproduced, divulged or otherwise distributed in any form whether by way of fax, email, oral or otherwise, in whole or in part without the express and prior written consent of Liontrust.