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Russia Fund

Fund launch date 31/12/2004
Fund size £74,738,238.90
Number of holdings 23
Managed by current team for 17 years

Suspension of dealing in the Liontrust Russia Fund

Liontrust has decided to suspend dealing in the Russia Fund. This means investors are not able to make purchases or redemptions in the Fund until further notice. 
 
We have not taken this action lightly but in this case we believe this is in the best interests of all investors given the events of the past few days and comes after discussions with the Fund’s Depositary. These events include today’s closure of the Moscow Stock Exchange and the temporary ban on foreign investors selling local Russian securities.
 
At the moment, Liontrust is unable to say how long the Fund will be suspended for. Liontrust will keep the suspension of the Russia Fund under continual review given it is such a rapidly changing situation and we will update investors as soon as we can.  
 
The suspension of the Russia Fund will not have any impact on any other Liontrust funds. 

Liontrust is waiving the Annual Management Charge (AMC) and Administration Fee for the Russia Fund while dealing in the Fund is suspended. This is being backdated to 1 March 2022, which is the day after Liontrust announced the suspension of dealing. Please click here to read the full statement.

Please click here to check the fund price

Read the full statement and Q&A for investors >


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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 Russian companies. These are companies which, at the time of purchase, are incorporated, domiciled, listed or conduct significant business in Russia.

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
31/12/2004
Comparator Benchmark 1
MSCI Russia 10-40
Price
Single Price
84.100p
Offer Price
-
Price Date
13/05/2022

Awards and Ratings

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

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 Russia 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 Russia -57.2 34.7 -10.9 12.0 11.7
MSCI Russia 10-40 -100.0 31.0 -4.7 8.4 0.2

Current positioning

Top 10 Holdings (%)

PHOSAGRO PJSC 24.59
NOVATEK PAO 23.23
YANDEX N.V. 16.70
HEADHUNTER GROUP PLC 7.07
NOVOROSSIYSK COMMERCIAL SEA PORT 5.42
SOFTLINE HOLDING PLC 1.66
POLYMETAL INTL PLC 1.52
ROS AGRO PLC 1.26
TCS GROUP HLDG PLC 0.97
MMC NORILSK NICKEL PJSC 0.81

Sector Breakdown (%)

Materials 26.93
Energy 23.83
Communications 16.70
Money Market 16.05
Industrials 12.50
Information Technology 1.66
Consumer Staples 1.26
Financials 1.04

Geographic Breakdown (%)

Russia
83.94
Money Market
16.05

Source: Liontrust as at 29/04/2022.

Source: FE fundinfo
Additional Information
Minimum initial investment
£250,000
Minimum additional investment
£0
Ex-dividend date
31 December (Final)
Distribution date
28 February
Sedol code
B86WB79
ISIN code
GB00B86WB793
Charges
Initial charge
0.00%
Ongoing Charges Figure
0.95%
Included within the OCF is the Annual Management Charge
0.80%
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
Russia Fund
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