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GF Tortoise Fund

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GF Tortoise Fund

The Liontrust GF Tortoise Fund is a long/short global equity fund, lead managed by Matthew Smith and co-managed by Tom Morris. The Fund is actively managed using a combination of long equity positions and short CFD positions. 

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.
Key Information
Manager Inception Date of Fund
31/08/2007
Class Launch Date
15/10/2008
Price
Single Price
242.602p
Offer Price
-
Price Date
20/05/2022

Awards and ratings

Sauren Fondsmanager rating Sauren Fund Manager Rating: Double Gold Matthew Smith
Morningstar Sustainability rated 4 Morningstar Sustainability Rating: 4

Meet the team

Matthew Smith and Tom Morris both joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management and are members of the Global Fundamental team. Matthew has 28 years’ experience managing funds. Prior to joining Majedie in 2006, Matthew had worked at Deutsche Bank, Credit Suisse and NPI. Tom joined Majedie as an Analyst on the graduate programme in 2009 and also co-manages the LF Liontrust Global Equity and LF Liontrust Global Focus funds.

More about the team
Meet the tea

Our Investment Process

The Liontrust GF Tortoise Fund is a long/short equities fund that invests globally.
The Fund aims to deliver a positive absolute return over rolling three-year periods. 
The investment team combines a bottom-up, stock-picking process with detailed study of the macro environment and generally takes a “value” orientated approach to investing for both long and short positions. 
ESG (environmental, social and governance) factors are assessed as part of the stock selection process for long positions held in the Fund. 
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.

Performance

Performance since fund launch date

Discrete performance (%)

As at previous quarter 12 months ending: Mar 22 Mar 21 Mar 20 Mar 19 Mar 18
Liontrust GF Tortoise 3.7 59.9 -21.4 -1.5 -10.7

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 2.0 2.8 18.0 15.5 8.2 48.7 23.8 79.9 183.2

Source: FE fundinfo as at 20/05/2022. 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.

Additional Information
Minimum initial investment
£500,000
Minimum additional investment
£100,000
Ex-dividend date
31 December
Distribution date
28 February
Sedol code
B3CQKZ1
ISIN code
IE00B3CQKZ16
Charges
Initial charge
-
Ongoing Charges Figure
1.12%
Included within the OCF is the Annual Management Charge
1.00%
Fund insights
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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.

This Fund may not be appropriate for investors who plan to withdraw their money within 5 years.
5 (Please refer to the Fund KIID for further detail on how this is calculated)

Active.
No benchmark

How to invest in Liontrust funds

Through a fund platform
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Direct with Liontrust

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.

Investment in the Fund involves foreign currencies and may be subject to fluctuations in value due to movements in exchange rates. The Fund may invest in derivatives. The use of derivatives may create leverage or gearing. 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.

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.

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