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Latin America Fund

Fund launch date 03/12/2007
Fund size £30,972,291.89
Number of holdings 37
Managed by current team for 10 years
Currently viewing:

The Fund

The Fund is managed by Thomas Smith and aims to generate capital growth over the long term (5 years or more). The Fund invests at least 80% in shares of Latin American companies. These are companies in countries which, at the time of purchase, appear anywhere in the MSCI EM Latin America index.

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
01/07/2011
Class Launch Date
03/12/2007
Comparator Benchmark 1
MSCI Emerging Markets Latin America
Comparator Benchmark 2
IA Latin America
Price
Single Price
114.540p
Offer Price
-
Price Date
27/05/2022

Meet the team

Thomas manages the Liontrust Russia and Liontrust Latin America funds, having joined Liontrust as part of the acquisition of Neptune Investment Management in October 2019. He also leads the team’s research on the energy and utilities sectors and has a Master’s degree in Chemistry from the Oxford University.

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 Latin America Fund focuses on Emerging Leaders – companies well positioned to prosper in a world of rapid change. Importantly, given many disruptive products and business models have arisen in developed markets, their introduction and adoption rates across emerging markets are driving considerable growth at a consumer and commercial level. 
Therefore, the team believe emerging leaders alone have the resources and capabilities to survive and prosper given the huge levels of disruption seen across the whole economy. 
A common feature is their ability to create value for customers (either via a lower price and/or higher quality product and management that are focused on driving continuous improvement) and capture value for itself and its shareholders via a sustaining moat (such as unique assets, efficient scale, technology leadership, R&D investment and customer switching costs).
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 Latin America 18.7 33.7 -35.3 4.7 8.3
MSCI Emerging Markets Latin America 29.5 34.9 -37.8 0.4 6.3
IA Latin America 19.4 33.0 -34.0 0.2 3.8
Quartile Ranking 3 4 2 1 2

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 Latin America 1.4 9.3 21.8 20.4 6.3 -4.5 15.0 33.2 39.6
MSCI Emerging Markets Latin America 7.7 13.7 33.6 28.3 20.0 9.6 16.6 24.1 45.9
IA Latin America 2.5 9.1 22.8 18.8 7.5 -0.2 5.1 18.8 42.5
Quartile Ranking 3 2 3 2 3 3 1 1 -

Source: FE fundinfo as at 26/05/2022. 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 (%)

VALE SA 9.50
PETROLEO BRASILEIRO SA PETROBRAS 7.43
ITAU UNIBANCO HOLDING S.A. 5.70
AMERICA MOVIL SAB DE CV 5.42
BANCO BRADESCO S.A. 3.84
WAL-MART DE MEXICO SAB DE CV 3.67
GRUPO MEXICO SAB DE CV 3.55
GENTERA SAB DE CV 3.24
SENDAS DISTRIBUIDORA S A 3.12
BANCO DEL BAJIO 3.00

Sector Breakdown (%)

Financials 24.93
Materials 21.40
Energy 12.12
Consumer Staples 9.02
Industrials 7.47
Consumer Discretionary 7.27
Health Care 6.86
Information Technology 6.17
Communications 5.42
Others 0.00
Money Market -0.71

Geographic Breakdown (%)

Brazil
62.70
Mexico
25.84
Chile
5.55
Argentina
3.99
Luxembourg
1.63
Colombia
0.98
Norway
0.00
Money Market
-0.71

Source: Liontrust as at 29/04/2022.

Source: FE fundinfo
Additional Information
Minimum initial investment
£250,000
Minimum additional investment
£0
Ex-dividend date
30 June, 31 December
Distribution date
31 August, 28 February
Sedol code
B909HH5
ISIN code
GB00B909HH53
Charges
Initial charge
-
Ongoing Charges Figure
0.90%
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.

 

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
Latin America Fund
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