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Global Smaller Companies

Fund launch date 31/12/2007
Fund size £52,541,371.08
Number of holdings 45
Managed by current team for 14 years
Currently viewing:

The Fund

The Fund has been managed by Robin Geffen since 2007, with William Geffen becoming Deputy Manager in November 2021. The Fund aims to generate capital growth over the long term (5 years or more). The Fund invests at least 80% of the portfolio in shares of small sized companies across the world. These are companies which, at the time of purchase, have a market capitalisation of under £10 billion. 

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
31/12/2007
Class Launch Date
30/06/2016
Comparator Benchmark 1
MSCI World SMID Cap
Comparator Benchmark 2
IA Global
Price
Single Price
209.140p
Offer Price
-
Price Date
23/05/2022

Awards and Rating

Morningstar Fund Rating: 5 Morningstar Rating: 5
FEfundinfo Crown Rating FE fundinfo Crown Rating: 4

Meet the team

Robin Geffen has 40 years of investment experience and prior to joining Liontrust in October 2019, Robin was a fund manager and the CEO of Neptune Investment Management, which he founded in 2002. He has previously worked at Charterhouse J Rothschild, Eagle Star, York Trust plc, Scottish Equitable and Orbitex Investments. William Geffen moved to Liontrust as part of the acquisition of Neptune Investment Management in October 2019. He graduated from Oxford University with a Masters in Chemistry (MChem) and is a CFA Charterholder.

More about the team
Meet the tea

Our Investment Process

The fund managers believe the key to generating outperformance is through high conviction, long-term, research-led company selection.
The Liontrust Global Smaller Companies Fund looks for companies that are capable of long-term growth using the five key drivers of Science, Intellectual Property, New Technology, Social Change and Entrepreneurial Vision.
As a result, the Fund focuses on capital light businesses, and avoids sectors and sub sectors that are capital intensive where larger and existing companies have a huge advantage.
The Fund invests in companies no smaller than $2 billion in market capitalisation and looks to gradually exit holdings when they exceed the $10 billion threshold. As a result, most of the Fund’s successful stock picks will naturally outgrow the small-cap space (with many of these stocks ‘graduating’ to other funds in the Global Equity range which have higher market cap boundaries). 
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 manager inception date (%)

Discrete performance (%)

As at previous quarter 12 months ending: Mar 22 Mar 21 Mar 20 Mar 19 Mar 18
Liontrust Global Smaller Companies 1.8 48.5 -6.1 18.4 15.9
MSCI World SMID Cap 6.4 55.1 -15.6 6.5 2.9
IA Global 8.4 40.6 -6.0 9.0 2.7
Quartile Ranking 4 2 3 1 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 Global Smaller Companies -12.9 -8.2 -31.6 -25.8 -8.6 17.8 70.5 145.7 110.1
MSCI World SMID Cap -6.4 -2.4 -12.0 -10.4 -1.7 27.7 44.7 226.7 274.9
IA Global -5.2 -2.4 -13.4 -12.9 -2.4 27.8 46.0 179.7 173.6
Quartile Ranking 4 3 4 4 3 4 1 4 -

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.

Current positioning

Top 10 Holdings (%)

SAILPOINT TECHNOLOGIES HLDGS INC 5.66
VERINT SYSTEMS INC 5.21
EVOQUA WATER TECHNOLOGIES CORP 4.83
RAPID7 INC 4.56
VARONIS SYSTEMS INC 4.12
WORKIVA INC 3.95
BOX INC 3.76
ACADIA HEALTHCARE CO INC 3.70
SILICON LABORATORIES 3.68
CYBERARK SOFTWARE LTD 3.64

Sector Breakdown (%)

Information Technology 60.01
Consumer Discretionary 12.30
Industrials 11.84
Health Care 6.84
Communications 3.01
Financials 2.23
Consumer Staples 2.17
Money Market 1.55

Geographic Breakdown (%)

USA
81.30
UK
6.33
Japan
4.32
Israel
3.64
Money Market
1.55
Canada
1.48
Singapore
1.35

Source: Liontrust as at 29/04/2022.

Source: FE fundinfo
Additional Information
Minimum initial investment
£250,000
Minimum additional investment
£0
Ex-dividend date
1 January
Distribution date
28 February (Final)
Sedol code
B29MXF6
ISIN code
GB00B29MXF68
Charges
Initial charge
-
Ongoing Charges Figure
0.88%
Included within the OCF is the Annual Management Charge
0.75%
Fund insights

How to invest in Liontrust funds

Through a fund platform
Through a financial adviser
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.

 

The portfolio is invested in smaller companies - these stocks may be less liquid and the price swings greater than those in, for example, larger companies. 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 emerging markets/soft currencies or in financial derivative instruments, both of which may have the effect of increasing volatility. The Fund holds a concentrated portfolio of stocks, if the price of one of these stocks should move significantly, this may have a notable effect on the value of the portfolio.

 

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.

 
Fund literature
Global Smaller Companies Fund
View latest fund update