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US Opportunities Fund

Single Price 457.220p as of 23/05/2024
Fund launch date 31/12/2002
Fund size £254,573,347.60
Number of holdings 37

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.

Read latest fund update
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
11/07/2023
Managed by Current Team for
10 months
Class Launch Date
31/12/2002
ISIN code
GB00B7K9LQ88
Comparator Benchmark 1
S&P 500
Comparator Benchmark 2
IA North America

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

Performance since fund launch date (%)

Discrete performance (%)

As at previous quarter 12 months ending: Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Liontrust US Opportunities 31.5 -11.8 14.5 48.6 -3.1
S&P 500 26.5 -2.2 20.7 39.8 -2.8
IA North America 25.1 -4.0 16.1 42.4 -4.0
Quartile Ranking 1 4 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 US Opportunities 2.5 2.4 15.9 9.8 24.6 25.9 77.9 259.5 926.8
S&P 500 2.7 3.7 14.6 11.9 24.9 46.8 95.9 323.1 921.6
IA North America 2.1 3.6 14.9 10.3 23.4 36.5 82.9 265.2 713.9
Quartile Ranking 4 4 3 3 3 3 3 2 -

Source: FE fundinfo as at 22/05/2024. 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 (%)

NVIDIA CORP
6.70
MICROSOFT CORPORATION
5.70
ALPHABET INC
5.48
INTUIT INC.
4.87
AMAZON.COM, INC.
4.57
PERFORMANCE FOOD GROUP CO
4.39
CBOE GLOBAL MARKETS INC
4.24
FORTINET, INC.
4.10
ELEVANCE HEALTH, INC.
4.00
ICON PLC
4.00

Sector Breakdown (%)

Information Technology
26.27
Health Care
19.34
Consumer Discretionary
15.73
Communications
11.88
Consumer Staples
9.99
Financials
8.04
Industrials
6.62
Money Market
1.46
Materials
0.63

Geographic Breakdown (%)

USA
98.53
Cash & Cash Equivalents
1.46
Source: FE fundinfo
Additional Information
Minimum initial investment
£250,000
Minimum additional investment
£0
Ex-dividend date
30 June, 31 December
Distribution date
31 August, 28 February
Sedol code
B7K9LQ8
Charges
Initial charge
-
Ongoing Charges Figure
0.87%
Included within the OCF is the Annual Management Charge
0.75%

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

Fund Manager Insights

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The Business of Weight Loss
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In this episode, Tom and Hong explore the business of losing weight. From gym subscriptions to new wonder drugs, the industry is changing like never before.
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In this episode of Global Infusions, Tom is joined by his first guest co-host, Hong, to explore the business of Housing. From property bubbles to green belts, everyone needs somewhere to live.
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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
Volatility

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Key Risks 


Past performance does not predict future returns. You may get back less than you originally invested. 
Overseas investments may carry a higher currency risk. They are valued by reference to their local currency which may move up or down when compared to the currency of the Fund. The Fund may encounter liquidity constraints from time to time. The spread between the price you buy and sell shares will reflect the less liquid nature of the underlying holdings. Outside of normal conditions, the Fund may hold higher levels of cash which may be deposited with several credit counterparties (e.g.international banks). A credit risk arises should one or more of these counterparties be unable to return the deposited cash. Counterparty Risk: any derivative contract, including FX hedging, may be at risk if the counterparty fails. ESG Risk: In reference to any component (where applicable) of a fund's investment process that uses external ESG data, there may be limitations to the availability, completeness or accuracy of ESG information from third-party providers, or inconsistencies in the consideration of ESG factors across different third party data providers, given the evolving nature of ESG. There is no guarantee that an absolute return will be generated over a three year time period or within another time period.

Disclaimer

This is a marketing communication. Before making an investment, you should read the relevant Prospectus and the Key Investor Information Document (KIID) and/or PRIIP/KID, which provide full product details including investment charges and risks. It 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. This information and analysis 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, no representation or warranty is given, whether express or implied, by Liontrust as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified.

Fund literature
US Opportunities Fund
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