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US Opportunities Fund

Fund launch date 31/12/2002
Fund size £232,307,078.06
Number of holdings 39
Managed by current team for > 1 Year
Currently viewing:

The Fund

The Fund aims to generate capital growth over the long term (5 years or more). The Fund invests at least 80% in shares of US companies. These are companies which, at the time of purchase, are incorporated, domiciled, listed or conduct significant business in the US.

You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.

Past performance does not predict future returns. You may get back less than you originally invested. Reference to specific securities is not intended as a recommendation to purchase or sell any investment.
Key Information
Manager Inception Date of Fund
Class Launch Date
Comparator Benchmark 1
S&P 500
Comparator Benchmark 2
IA North America
Single Price
Offer Price
Price Date

Meet the team

Hong Yi Chen joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management and is a member of the Global Fundamental team. Hong joined Majedie in 2010 as an Analyst on the graduate programme. He became manager of the GF US Equity Fund in January 2021.

Meet the tea

Our Investment Process

The investment team's fundamental bottom-up approach seeks to invest in stocks that meet two key criteria: asymmetric share price return potential and a catalyst for crystallising this potential.
The team’s analysis is distilled into fundamental and valuation-based forecasts from which they produce two-year share price targets, according to optimistic, base case and pessimistic scenarios.
Having built conviction that the stock meets the aforementioned investment criteria, the size of the investment is driven by both the attractiveness of the return profile and the conviction that the catalyst will materialise within the managers’ two-year timeframe. 
The overall aim of the investment approach is to build a concentrated, high conviction portfolio with holdings spread across the market cap and style spectrum and with returns underpinned by material positive surprises as catalysts are crystallised.

The Fund is ‘focused’, containing relatively fewer holdings than those included in their benchmark indexes because the stocks are selected based on the high convictions of the investment team. Whether Fund outperforms or underperforms its benchmark depends on the investment team’s stock selections. While the Fund chooses stocks based on a long-term view of three to five years, they may underperform over the shorter periods because of short-term challenges.

Past performance does not predict future returns. You may get back less than you originally invested. Reference to specific securities is not intended as a recommendation to purchase or sell any investment.


Performance since fund launch date (%)

Discrete performance (%)

As at previous quarter 12 months ending: Sep 23 Sep 22 Sep 21 Sep 20 Sep 19
Liontrust US Opportunities 0.3 -6.0 30.3 13.7 7.5
S&P 500 10.7 1.6 24.1 9.1 9.7
IA North America 8.2 -2.1 25.4 9.1 7.4
Quartile Ranking 4 3 1 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 US Opportunities 6.7 2.7 8.4 10.4 5.8 22.2 67.7 204.8 787.7
S&P 500 4.2 1.9 8.5 15.2 10.7 37.2 78.5 276.5 786.8
IA North America 4.6 1.0 7.4 11.8 7.5 27.8 66.9 219.8 607.2
Quartile Ranking 2 1 2 3 3 3 2 3 -

Source: FE fundinfo as at 01/12/2023. 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 (%)


Sector Breakdown (%)

Consumer Discretionary 20.40
Information Technology 19.41
Health Care 16.53
Consumer Staples 11.45
Communications 9.18
Industrials 9.08
Financials 8.79
Money Market 3.97
Materials 1.15

Geographic Breakdown (%)

Money Market

Source: Liontrust as at 31/10/2023.

Source: FE fundinfo
Additional Information
Minimum initial investment
Minimum additional investment
Ex-dividend date
30 June, 31 December
Distribution date
31 August, 28 February
Sedol code
ISIN code
Initial charge
Ongoing Charges Figure
Included within the OCF is the Annual Management Charge

For more information on the OCF, see our costs and charges page.

Fund Manager Insights

See all related
Hong Yi Chen Hong Yi Chen
Why US inflation will fall With worries about the impact of rising interest rates in the US on economic growth, Hong Yi Chen, Fund Manager in the Liontrust Global Fundamental team, explains why inflation may be less of a problem than many commentators think.
icon 5 September 2022

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.



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
US Opportunities Fund
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