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 >
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.
Awards and Ratings
FE fundinfo Crown Rating: 4
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.
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
|
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 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.