GF Tortoise Fund
The Liontrust GF Tortoise Fund is a long/short global equity fund, managed by James Inglis-Jones and Samantha Gleave.
You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.
Meet the team
James Inglis-Jones formed the Cashflow Solution team on joining Liontrust in March 2006 and was joined by Samantha Gleave in 2012. James and Samantha jointly manage the GF Tortoise Fund having first worked together in 1998 and with an average industry experience of 25 years. James previously managed funds at Fleming Investment Management, JP Morgan Fleming and Polar Capital. Samantha began her career at Sutherlands and, among others, previously worked at Bank of America Merrill Lynch where she won awards for Top Stock Pick and Earnings Estimates.
Performance
Performance since fund launch date
Discrete performance (%)
| As at previous quarter 12 months ending: | Mar 24 | Mar 23 | Mar 22 | Mar 21 | Mar 20 |
|---|---|---|---|---|---|
| Liontrust GF Tortoise | 5.1 | 18.0 | 3.7 | 59.9 | -21.4 |
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 Tortoise | 0.4 | 3.1 | 6.1 | 2.5 | 4.1 | 32.4 | 68.5 | 59.4 | 230.3 |
Source: FE fundinfo as at 24/04/2024. 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.
Awards and ratings
Morningstar Rating: 4
Key features of the Fund
The Fund aims to achieve positive absolute returns in all market conditions through investment primarily in long and synthetic short positions in equities over rolling three-year periods with less volatility than a conventional long-only equity fund.
The Fund is actively managed. The Fund is managed with reference to a benchmark in the context of performance fees only. The Fund will hold a maximum of 60 long positions, representing an overall net position of up to 100% of NAV. No more than 10% of the NAV will be invested in any one security. The long positions will be achieved by direct purchases of equities using the assets of the Fund.
The Fund will hold a maximum of 60 short positions, which may represent up to 100% of the NAV, and each synthetic short position held will not exceed 10% of the NAV. The synthetic short positions will ordinarily be achieved by the use of contracts for differences placed with approved counterparties and will be financed out of the assets of the Fund.
Investments will primarily be in equity securities listed on eligible markets or exchanges located in EEA Member States, Australia, Canada, Hong Kong, Japan, New Zealand, Switzerland or the United States of America. However, the Fund may invest in the equity securities of companies incorporated anywhere in the world. The Fund will not invest more than 20% of its Net Asset Value in equity securities of companies incorporated in emerging markets as determined by the Investment Manager. The Fund may invest up to 10% of its NAV in other collective investment schemes. For the avoidance of doubt, such other collective investment schemes include money market funds invested in for cash management purposes. There is no policy to restrict investment to particular economic sectors.
For more information on the OCF, see our costs and charges page.
Fund Manager Insights
Samantha Gleave & James Inglis-Jones
Samantha Gleave and James Inglis-Jones
James Inglis-Jones
Multiple authors
How to invest in Liontrust funds
Key Risks
Past performance does not predict future returns. You may get back less than you originally invested. 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 may, under certain circumstances, invest in derivatives, but it is not intended that their use will materially affect volatility. Derivatives are used to protect against currencies, credit and 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 use of derivatives may create leverage or gearing resulting in potentially greater volatility or fluctuations in the net asset value of the Fund. A relatively small movement in the value of a derivative's underlying investment may have a larger impact, positive or negative, on the value of a fund than if the underlying investment was held instead. The use of derivative contracts may help us to control Fund volatility in both up and down markets by hedging against the general market. 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. 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. 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. There is no guarantee that an absolute return will be generated over a three year time period or within another time period. There is no guarantee that an absolute return will be generated over a three year time period or within another time period.
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. The decision to invest in a fund should take into account all the characteristics and objectives of the fund (inclusive of sustainability features) as described in the prospectus. Further information can be found here: https://www.liontrust.eu/sfdr. 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.
