Liontrust Global Fixed Income | Liontrust Asset Management PLC

Liontrust Global Fixed Income

David Roberts, Phil Milburn and Donald Phillips manage three fixed income strategies: Strategic, Absolute Return and High Yield. The team has more than 20 years’ average investment experience and all worked together before joining Liontrust at the start of 2018. They have proven track records of managing the fixed income strategies and decision making is streamlined because it exists of only three experienced fund managers. The investment process is designed to be flexible to enable the fund managers to buy when bond markets are cheap and risk is underpriced and to sell when markets are expensive and risk is overpriced. The managers only commit cash to the market when they believe investors will receive a return that justifies the risk they are taking.

Liontrust GF Absolute Return Bond Fund

Absolute Return is one of three strategies run by the managers, who aim to manage this with a lower level of risk than their Strategic Bond and High Yield Bond funds. Key to this is the focus on short-dated investment grade credit for the bulk of the portfolio, which is designed to provide a steady cash-plus engine throughout the cycle. See more

Liontrust GF High Yield Bond Fund

The Fund typically invests in high yield bonds with a rating of BB+ or lower in developed markets, with up to a maximum of 20% of the portfolio invested in low rated investment grade bonds and 20% in emerging markets. See more

Liontrust GF Strategic Bond Fund

The Fund invests in bonds issued by corporates, from investment grade to high yield, and governments on a global basis, including in emerging markets. The fund managers aim to add value and generate positive returns through capital growth and income while seeking to mitigate against unexpected and negative events in bond markets. See more

Recent insights from the team

Liontrust Insights - Article
Is the spike in US inflation just a blip?
David Roberts, 16 June 2021
The latest US inflation numbers have been largely dismissed as transitory by both the market and the Federal Reserve. David Roberts argues that some of the inflationary forces are structural in nature and could require action from the Fed sooner than current market expectations. Read more
Liontrust Insights - Article
Q2 strategy – Positioning for an uneven recovery
David Roberts, 12 May 2021
The global economy is expected to grow significantly in the latter part of 2021, but this growth won’t be evenly spread across regions. Fund Manager David Roberts dissects these growth discrepancies and explains how the Global Fixed Income funds are positioned against this backdrop. Read more
Liontrust Insights - Article
Should you still invest in high yield when credit spreads are low?
Donald Phillips, 30 April 2021
Donald Phillips explains why the high yield investment outlook still looks positive, even at historically low yield premia to government bonds. Read more
Liontrust Insights - Article
Bond markets during a global pandemic
David Roberts, 13 April 2021

David Roberts, Head of Fixed Income at Liontrust, analyses how bond markets have reacted to the pandemic over the past year and what this means for investors. Read more

Liontrust Insights - Article
Do you really own a bond fund?
David Roberts, 9 April 2021
Bonds are thought of as a relatively stable asset class, which offer diversification from equity risk. But that isn’t always the case. David Roberts explains how some bonds are more closely correlated with equities than the wider bond market and why it is imperative that investors are selective about which bonds they include in their portfolios. Read more

Read more insights and views from our fund managers

Downloads

The Global Fixed Income team

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

Before joining Liontrust in early 2018, David Roberts (left) and Phil Milburn (right) worked together at Kames Capital for 14 years, where David was Head of the Fixed income team and Phil was Head of Investment Strategy. They launched one of the first strategic bond funds in 2003 and have been investing in high yield on a global basis since 2003. Donald Phillips (centre) was previously an investment manager in the Credit team at Baillie Gifford and worked with David and Phil at Kames Capital for three years.

Read more

The Shaken and Stirred podcast

Shaken and Stirred - Phil Milburn
 

Phil Milburn shares his insights into the world of bonds with candour, sharp analysis and contrarian thinking. Phil, who is Head of Investment Strategy of the Global Fixed Income team at Liontrust, gives his views on economics, markets and anything else he finds interesting and intriguing. 

How to invest

About Liontrust

There are a number of ways advisers can invest in Liontrust's Global Fixed Income funds on behalf of clients.

How to invest

Awards and ratings

David Roberts Gold Medal
David Roberts
Sauren Fund Manager Rating: Double Gold
Square Mile Rated A - Liontrust
Liontrust Strategic Bond Fund
Square Mile rating: A

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. 

 

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