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Liontrust - Economic Advantage

GF Special Situations Fund

Anthony Cross & Julian Fosh

The Fund

The Fund was launched in November 2012 and is the Irish-domiciled version of the multi-award-winning Liontrust Special Situations Fund, which has been managed since launch in November 2005 by Anthony Cross and, from 2008, 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.

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The Economic Advantage team

The Economic Advantage team

Anthony Cross (left) and Julian Fosh (right) have over 55 years of combined investment experience. 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.

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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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How we’re playing the video gaming market

Matt Tonge

Liontrust UK Micro Cap co-manager Matt Tonge explains how he’s playing the video gaming market. Read more

Awards and ratings

FE Alpha Manager 2018 - Anthony Cross
Anthony Cross
FE Alpha Manager 2018
FE Alpha Manager 2018 - Julian Fosh
Julian Fosh
FE Alpha Manager 2018
FE Crown Rated - 5
Liontrust GF Special Situations Fund
FE Crown Rating: 5
Morningstar rated 5 star
Liontrust GF Special Situations Fund
Morningstar Rating: 5

Latest fund update

GF Special Situations Fund

Read the latest update for the Liontrust GF Special Situations Fund.
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Citywire rated AAA
Anthony Cross & Julian Fosh
Citywire Manager rating: AAA
Investors Chronicle - Top 100 Funds 2015 - Liontrust Special Situations
Liontrust GF Special Situations Fund
Investors Chronicle Top 100 2015
Morningstar Sustainability rated 4
Liontrust GF Special Situations Fund
Morningstar Sustainability Rating: 4
Funds People rated C
Liontrust GF Special Situations Fund
Funds People Rating: C

Performance*

Discrete performance

30-09-2017 -
30-09-2018
30-09-2016 -
30-09-2017
30-09-2015 -
30-09-2016
30-09-2014 -
30-09-2015
30-09-2013 -
30-09-2014
Liontrust GF Special Situations 12.26% 11.51% 21.56% 4.90% 4.65%
Equity - UK 3.77% 10.98% 10.62% 2.23% 5.36%
FTSE All Share 5.87% 11.94% 16.82% -2.30% 6.09%
Liontrust GF Special Situations
Equity - UK
FTSE All Share
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust GF Special Situations -3.99% 4.20% 37.68% 53.76% N/A 75.29%
Equity - UK -8.47% -3.60% 16.64% 22.91% N/A 52.31%
FTSE All Share -7.74% -1.54% 27.33% 29.37% N/A 58.18%
To previous working day
Liontrust GF Special Situations
Equity - UK
FTSE All Share

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.


Source: Financial Express. Total return. The GF Special Situations Fund C1 was launched on 08.11.12 and therefore discrete data is not available for more than three 12 month periods. 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. Returns are in local currency. 


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. 

Explore in detail

For more information (including prices) and to explore all of the Fund's share classes in more detail please visit our interactive fund centre.

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Key fund information

  • Launch date08/11/2012
  • SectorEquity - UK
  • BenchmarkFTSE All Share
  • Fund size£71,653,103.90
  • Number of holdings53
  • Active Share71.70%
  • Historic yield0.00%
Fund size, number of holdings and active share data is as at previous month end. Performance data is as at previous working day.

Active Share: The percentage of a portfolio invested differently to its benchmark. A 100% active share is a portfolio with no weightings in the benchmark, a 0% active share is a portfolio identical to the benchmark.

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