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.

Recent insights from the team

Liontrust Insights - Article
What the Fed’s new ‘flexible’ inflation approach means for bond investors
David Roberts
The US Federal Reserve has introduced a new policy of flexible average inflation targeting. David Roberts looks at what this means for bond markets and explains whether this is an example of Modern Monetary Theory. Read more 
Liontrust Insights - Article
Be prepared to take the right kind of bond risk
Phil Milburn

With interest rates expected to stay lower for longer than necessary and inflation heating up, Phil Milburn warns that bond investors must take risk in the right places if they are to avoid getting burned. Read more

Liontrust Insights - Article
10 trades for the New Year (revisited after six turbulent months)
David Roberts

Back in January, David Roberts identified 10 high-quality sovereign trades. Nearly six months later and with the world living with Covid-19, David assesses how successful these trades have been and what they now say about the outlook for bond markets. Read more

Liontrust Insights - Article
10 macro and micro fixed income trades for summer
Global Fixed Income team
Active management is largely about taking opportunities and the Global Fixed Income team highlight ten potential alpha sources in their funds for the summer months, across macro trades, investment grade and high yield. Read more
Liontrust Insights - Article
GFI Quarterly: Reasons to be cheerful (as well as fearful)
Phil Milburn

Covid-19 uncertainty has lowered confidence in economic forecasts. But Phil Milburn explains why there are reasons to be cheerful as well as fearful and where the team is finding investment opportunities in investment grade and high yield. Read more

Download

Further information on the Liontrust Global Fixed Income process is available in the following PDF.

Liontrust Global Fixed Income Process

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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