The Fund
Dan Ekstein of the Liontrust Global Fundamental team is manager of the Income Fund, supported by deputy fund manager Sam Bealing. The Fund aims to deliver a net target yield of at least the net yield of the FTSE All Share index every year, with the potential for long term (5 years or more) capital growth. The Fund is constructed using a distinctive, flexible style encompassing elements of Growth and Value investing. This helps mitigate style bias and produces balanced portfolios, with a potential to perform across different market and economic cycles.
You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.
Awards and Ratings
Morningstar Rating: 4
Morningstar Sustainability Rating: 4
RSMR Rated Fund
Meet the team
Dan Ekstein joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management, where he was an Equity Analyst for three years. Prior to joining Majedie in 2019, Dan worked at UBS Investment Bank where he was Head of European Food Retail Equity Research and previously a Director of Oil & Gas Equity Research. Sam joined Liontrust in May 2022. Prior to joining Liontrust, Sam worked at UBS Investment Bank where he was a Director on the Specialist Equity Sales team covering Small & Midcaps and Real Estate.
Our investment strategy
In this video, fund managers Dan Ekstein and Sam Bealing talk through their investment strategy for the Liontrust Income Fund.
They explain how they aim to achieve the Fund’s goal of generating a consistently attractive, growing dividend stream alongside long-term returns and capital appreciation. This is by investing in durable Quality dividend stocks, evidenced through Competitive Powers – a strategy adopted by the team from Hamilton Helmer.
Performance
Performance since manager inception date (%)
Discrete performance (%)
| As at previous quarter 12 months ending: | Sep 23 | Sep 22 | Sep 21 | Sep 20 | Sep 19 |
|---|---|---|---|---|---|
| Liontrust Income | 14.1 | -2.9 | 20.7 | -12.1 | 5.0 |
| FTSE All Share | 13.8 | -4.0 | 27.9 | -16.6 | 2.7 |
| IA UK Equity Income | 13.6 | -8.5 | 32.7 | -17.2 | -0.2 |
| Quartile Ranking | 2 | 1 | 4 | 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 Income | 3.9 | 1.7 | -1.0 | 4.8 | 4.2 | 24.7 | 29.9 | 80.5 | 403.6 |
| FTSE All Share | 2.9 | 1.8 | 0.9 | 4.8 | 4.8 | 23.9 | 32.6 | 68.6 | 357.2 |
| IA UK Equity Income | 4.1 | 2.9 | 0.6 | 3.3 | 3.9 | 21.9 | 27.2 | 58.4 | 321.6 |
| Quartile Ranking | 3 | 4 | 4 | 2 | 3 | 2 | 2 | 1 | - |
Source: FE fundinfo as at 08/12/2023. 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 (%)
| GSK PLC | 4.07 |
|---|---|
| ADMIRAL GROUP PLC | 3.75 |
| KITWAVE GROUP PLC | 3.51 |
| DUNELM GROUP PLC | 3.49 |
| MORGAN SINDALL GROUP PLC | 3.48 |
| 4IMPRINT GROUP PLC | 3.47 |
| Convatec Group Plc Ord 10P (WI) | 3.42 |
| RIO TINTO | 3.40 |
| IG GROUP HLDGS | 3.27 |
| ASHTEAD GROUP | 2.96 |
Sector Breakdown (%)
| Financials | 20.05 | |
|---|---|---|
| Industrials | 16.34 | |
| Consumer Staples | 12.42 | |
| Health Care | 10.38 | |
| Consumer Discretionary | 9.41 | |
| Energy | 8.95 | |
| Communications | 6.55 | |
| Materials | 5.68 | |
| Information Technology | 5.22 | |
| Money Market | 4.95 |
Geographic Breakdown (%)
| UK |
88.78
|
|---|---|
| Cash & Cash Equivalents |
4.95
|
| Norway |
3.79
|
| Luxembourg |
2.46
|
For more information on the OCF, see our costs and charges page.
Fund Manager Insights
Dan Ekstein
Dan Ekstein
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.
Investment in the Fund involves foreign currencies and may be subject to fluctuations in value due to movements in exchange rates. 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.
