Liontrust Strategic Bond Fund | What we offer | Liontrust Asset Management PLC
Liontrust - Macro

Strategic Bond Fund

David Roberts, Phil Milburn & Donald Phillips

The Fund

The Fund has been managed since launch in May 2018 by David Roberts and Phil Milburn, who are assisted by Donald Phillips. The Fund invests in bonds issues by corporates and governments, from investment grade to high yield, on a global basis, including in emerging markets. The managers seek to take advantage of market inefficiencies through understanding the economic environment, bottom up stock analysis and flexibility over duration, credit, sector and geographical allocations.

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The Global Fixed Income team
David Roberts, Phil Milburn & Donald Phillips

David Roberts, Phil Milburn and Donald Phillips, who all joined Liontrust in early 2018, have more than 60 years of joint investment experience. Before joining Liontrust, David and Phil worked together at Kames Capital for 14 years, where David was Head of the Fixed income team and Phil was Head of Investment Strategy.

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The Global Fixed Income process

The fund managers believe fixed income markets are inefficient and there are myriad ways of adding value to investors’ portfolios. The inefficiencies are caused by many market protagonists who are not price sensitive, ranging from the macroeconomic distortions caused by central banks to the idiosyncratic scenarios when companies need to raise debt finance and price accordingly. The Liontrust Global Fixed Income investment process is designed to take advantage of these inefficiencies through a thorough understanding of the economic environment and detailed bottom up stock analysis. The process uses the same framework to garner a thorough understanding of the economic environment and for bottom up stock analysis: fundamentals, valuations and technicals (FVT). These three factors are examined regardless of whether the managers are considering a duration position or an investment in a speculative grade rated company.

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Assessing risk/reward in Argentina and Italy

David Roberts

David Roberts assesses risk versus reward in Argentina as it calls in the IMF, and Italy, where a summer election looks increasingly likely. Read more

What do 3% US bond yields mean for investors?

David Roberts

With US 10-year bond yields breaching the 3% level today for the first time since 2014, David Roberts examines what this means for fixed income markets.
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Key Risks

Past performance is not a guide to future performance. Do remember that the value of an investment and the income generated from them can fall as well as rise and is not guaranteed, therefore, you may not get back the amount originally invested and potentially risk total loss of capital. Investment in Funds managed by the Global Fixed Income team involves foreign currencies and may be subject to fluctuations in value due to movements in exchange rates. The value of fixed income securities will fall if the issuer is unable to repay its debt or has its credit rating reduced. Generally, the higher the perceived credit risk of the issuer, the higher the rate of interest. Bond markets may be subject to reduced liquidity. The Funds may invest in emerging markets/soft currencies and in financial derivative instruments, both of which may have the effect of increasing volatility.


Disclaimer

The information and opinions provided 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. Always research your own investments and (if you are not a professional or a financial adviser) consult suitability with a regulated financial adviser before investing.

Explore in detail

For more information (including prices) and to explore all of the Fund's share classes in more detail please visit our interactive fund centre.

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Key fund information

  • Launch date09/05/2018
  • IA sectorIA Sterling Strategic Bond
  • Fund size£35,790,200.00
  • Historic yield0.00%
Fund size, number of holdings and active share data is as at previous month end. Historic yield and performance data is as at previous working day.  
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