Liontrust Asia Income Fund

November 2018 portfolio changes

  • Sold – AMP. Australia’s banking royal commission report, in which it makes allegations of misconduct against AMP, has significantly impacted the company. Its business is also being altered by the sale of its Life Insurance division, at what appears to be a low price. These changes, and the uncertainty ahead of the royal commission’s final recommendations which are not due until February, make significant returns unlikely in the short term, and keep longer-term earnings predictability low. We liquidated our position as a result.

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 Asia team involves foreign currencies and may be subject to fluctuations in value due to movements in exchange rates. The Fund’s expenses are charged to capital. This has the effect of increasing dividends while constraining capital appreciation.  


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. 

Friday, December 7, 2018, 4:20 PM