The Fund
The Fund has been managed by Anthony Cross and Julian Fosh since March 2009, who were joined by Victoria Stevens and Matt Tonge in 2023. The Fund aims to deliver capital growth over the long term (5 years or more) through using the Economic Advantage investment process. The process seeks to identify companies with a durable competitive advantage that allows them to defy industry competition and sustain a higher than average level of profitability for longer than expected. The Fund invests at least 90% of the portfolio in companies incorporated, domiciled or which conduct significant business in the United Kingdom (UK).
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
FE Investments Approved
Morningstar Analyst Rating: Bronze
Morningstar Rating: 4
Square Mile Rating: A
Meet the team
Anthony Cross joined Liontrust from Schroders in 1997 and launched the UK Smaller Companies Fund a year later. Anthony, who has managed the UK Smaller Companies and Special Situations funds since launch, was joined by Julian Fosh in 2008. Julian had previously managed funds at Scottish Amicable Investment Managers, Britannic Investment Managers, Scottish Friendly Assurance Society and Saracen Fund Managers. Victoria Stevens and Matt Tonge joined the team in 2015, and became managers of the UK Growth Fund in 2023. Victoria was previously Deputy Head of Corporate Broking at FinnCap, while Matt had spent nine years on the Liontrust dealing desk, latterly winning an industry award for his work in mid and small cap stocks.
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 UK Growth | 10.9 | -5.5 | 26.1 | -11.0 | 3.0 |
| FTSE All Share | 13.8 | -4.0 | 27.9 | -16.6 | 2.7 |
| IA UK All Companies | 12.8 | -15.3 | 32.4 | -12.8 | 0.0 |
| Quartile Ranking | 3 | 1 | 3 | 2 | 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 UK Growth | 0.6 | -1.1 | -0.2 | 0.9 | 0.6 | 20.5 | 30.5 | 95.5 | 1415.0 |
| FTSE All Share | 2.9 | 1.8 | 0.9 | 4.8 | 4.8 | 23.9 | 32.6 | 68.6 | 739.5 |
| IA UK All Companies | 3.8 | 1.6 | -0.9 | 3.2 | 3.3 | 12.3 | 24.6 | 55.4 | 593.5 |
| Quartile Ranking | 4 | 4 | 2 | 4 | 4 | 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 (%)
| SHELL PLC | 8.74 |
|---|---|
| ASTRAZENECA PLC | 7.77 |
| BP | 5.91 |
| UNILEVER PLC | 4.67 |
| GSK PLC | 4.11 |
| BAE SYSTEMS | 3.94 |
| DIAGEO PLC | 3.74 |
| RELX PLC | 3.56 |
| BRITISH AMERICAN TOBACCO | 3.30 |
| SAGE GROUP | 2.49 |
Sector Breakdown (%)
| Industrials | 24.96 | |
|---|---|---|
| Consumer Discretionary | 17.02 | |
| Energy | 15.96 | |
| Health Care | 14.66 | |
| Consumer Staples | 13.87 | |
| Financials | 5.04 | |
| Technology | 2.49 | |
| Real Estate | 2.23 | |
| Money Market | 1.91 | |
| Telecommunications | 1.35 | |
| Basic Materials | 0.47 |
Geographic Breakdown (%)
| UK |
98.08
|
|---|---|
| Cash & Cash Equivalents |
1.91
|
Capitalisation (%)
For more information on the OCF, see our costs and charges page.
Fund Manager Insights
Anthony Cross
Victoria Stevens
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.
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.
