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Fund manager

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Laurie Don

Early detection and ongoing innovation key in cancer fight

With many cancers detected too late for treatment, Laurie Don highlights ongoing work in the field of liquid biopsy as the kind of innovation that continues to attract the Sustainable Investment team to the healthcare sector. Read more
Aitken Ross

The case for sustainable insurance

While insurance is unlikely to be the first area that comes to mind for ESG investors, with attractive sustainable credentials, fundamentals and valuations, the sector demands a core position in the SF Bond portfolios. Read more
William Geffen

5 technology trends for a “normal” world

Covid-19 prompted an acceleration of technological trends, leading to strong returns for the sector in aggregate. But with a return towards normality likely in the next few months, Will Geffen analyses which of these trends might be sustained. Read more
Peter Michaelis

Green ‘industrial revolution’ highlights non-linear nature of change

While much more is needed to drive down carbon emissions, the UK’s ‘green industrial revolution’ does show how fast change can happen when better technology emerges. Read more
Samantha Gleave

Vaccine rally highlights value opportunity

Value stocks have staged a rally since the positive vaccine news. Sam Gleave argues that the underlying trends for the investment style have been attractive for some time and asks whether this could be the trigger of a regime change for markets. Read more

The value conundrum

Value stocks have enjoyed a rally on the back of the announcement of possible Covid vaccines but this follows a decade-long underperformance against growth stocks. We analyse how relevant the traditional value label is in the modern economy. Read more
Anthony Cross

Our key investment mantras

The Liontrust Special Situations Fund celebrated its 15th birthday last week. Anthony Cross reflects on 9 rules and beliefs of investing that have served the Fund and its investors well since 2005. Read more
John Husselbee

FTSE envy: patient investing in action

Behavioural finance suggests that avoiding losses is preferred to generating gains but this can be forgotten by investors during sharp market bounces. John Husselbee reviews the benefits of striving to get rich slowly. Read more
Storm Uru

Three stocks for a post-vaccine world

With light at the end of the pandemic tunnel, Storm Uru highlights three companies that are in sectors challenged by Covid-19 and which he believes offer value opportunities. Read more
Stuart Steven

Assessing banks: focusing on the E and S as well as the G

While sustainable analysis of banks has traditionally focused on the governance part of ESG, Stuart Steven highlights growing efforts by many of the sector’s larger names to drive the energy transition via carbon management across their loan books. Read more

Still all to play for in the US

Liontrust Multi-Asset team

After a divisive election night in the US and no result yet, the Liontrust Multi-Asset team outlines their initial thoughts. Read more
Peter Michaelis

Building better cities

A citizen of Los Angeles would cut their carbon footprint by 75% by moving to Copenhagen. Peter Michaelis explains why and how innovations can build better cities in which two-thirds of humanity are expected to live by 2050. Read more
David Roberts

A subtle TIP – how Covid has affected inflation expectations

With many bonds now expensive after a strong recovery over recent months, more subtle opportunities are required to add value for clients – and David Roberts highlights a recent TIPing point for longer-dated index-linked debt in the US. Read more
Julian Fosh

UK Growth Fund at cheapest level relative to market for a decade

Stocks in the UK Growth Fund tend to trade at a premium valuation to the market average. Julian Fosh explains why this is the case and looks at how new portfolio additions have helped pull the premium down to its cheapest point in a decade. Read more
John Husselbee

Multi-Asset: why the past five years is not a guide to the future

New research shows multi-asset funds investing purely in passives have outperformed in recent years. John Husselbee highlights the market forces behind this and cautions against assuming it will be the case forever. Read more
Storm Uru

Why income investors shouldn’t run from dividend cuts

Dividend cuts and share price falls over the past few months are presenting opportunities for income investors. Storm Uru, manager of the Liontrust Global Dividend Fund, highlights some examples. Read more
David Roberts

What the Fed’s new ‘flexible’ inflation approach means for bond investors

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
Samantha Gleave

Value in a modern economy

Value’s poor run has raised questions about whether the current measures of the investing style are outdated. Samantha Gleave argues that cash flow provides a more holistic way to assess value in the modern company. Read more
John Husselbee

Revisiting value and small caps

After a long period of weaker performance from value and smaller companies, John Husselbee highlights encouraging signs for both in recent months, including an apparent re-emergence of the small-cap premium. Read more
Donald Phillips

High yield: all about that income

With 100% of high-yield bond performance driven by income over the last decade, Donald Phillips says this asset class offers an attractive alternative for investors concerned about widespread dividend cuts across equities. Read more
Stuart Steven

Reacting to changes in credit ratings

With BBB debt now accounting for 60% of the investment grade market, close to doubling over the last decade, we are relaxing minimum credit rating restrictions on the Monthly Income Bond Fund. This is designed to ensure flexibility for our Fund and give the managers the best opportunity to perform in future. Read more
Phil Milburn

Quarterly strategy – How we are preparing for the Covid-19 recovery

The recovery from Covid-19 will be uneven by both sector and country and it has never been more important to be selective when choosing the correct rates and credit exposure. Phil Milburn explains what the Global Fixed Income team are expecting during the economic recovery and how they have adjusted their exposure. Read more
Alex Wedge

Recent fundraisings as much a sign of proactivity as panic

Fund manager Alex Wedge takes a look at recent fundraisings by the Economic Advantage team’s smaller companies and finds that - contrary to what might be expected – the majority are using disruption to the business landscape to accelerate market growth opportunities. Read more
Anthony Cross

If cash is king, then the stockmarket is kingmaker in a crisis

Over the last 10 years, the number of companies on the UK Main Market and AIM has dropped from 2,745 to 2,006. While this de-equitisation trend is undesirable, Anthony Cross explains why equity will always have a substantial role to play in company financing, as shown during the coronavirus crisis. Read more
Robin Geffen

Finding the FAANGs of the future

The growth of mega tech companies has led the US market and accelerated due to Covid-19. Robin Geffen examines whether global small caps offer more attractive opportunities and the mega tech companies of the future. Read more
Martyn Jones

Why low-cost gyms remain fit for our funds post Covid-19

Despite concerns about how quickly people will return to the UK’s freshly reopened gyms, Martyn Jones believes a few low-cost disruptors, with their cheaper fees and flexible membership, will increasingly dominate the market. Read more
Julian Fosh

Buying Bunzl – how its market position could strengthen during the crisis

Julian Fosh profiles the latest stock to be added to UK Growth Fund and explains how its barriers to competition could allow it to enhance its market position during the Covid-19 crisis. Read more
Storm Uru

Why innovation for income investing?

Storm Uru discusses the far-reaching consequences of Covid-19 for income investors. Read more
Phil Milburn

Be prepared to take the right kind of bond risk

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
David Roberts

10 trades for the New Year (revisited after six turbulent months)

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
James Inglis-Jones

Where we see an opportunity in today’s market

The proprietary market indicators used by the Cashflow Solution team suggests value stocks in aggregate look exceptionally cheap relative to history. James Inglis-Jones explains why, what else the indicators are telling them and how their funds are positioned to exploit this. Read more

10 macro and micro fixed income trades for summer

David Roberts, Phil Milburn & Donald Phillips

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
John Husselbee

Our 2020 Strategic Asset Allocation review

SAA is the scientific core of our multi-asset investment approach and John Husselbee runs through the key points from his 2020 annual review. Read more
John Husselbee

Reading the investment clock

With equities rushing far ahead of economic fundamentals into recovery territory, John Husselbee examines his investment clock and asks what the ongoing disconnect might mean for investors. Read more
David Roberts

Look beyond the headline UK inflation figures

David Roberts argues that the UK inflation rate is not what it seems and that negative rates would be a potential horror story for the future. Read more
Peter Michaelis

Nuclear power – still no thanks in 2020?

Liontrust’s Sustainable team has largely avoided nuclear power since a review a decade ago but given this energy’s low carbon emissions – and the increasing urgency of decarbonisation – does this position need to change? Read more
Stuart Steven

Why we favour short duration, investment grade, banks and insurers

As companies prepare for a long recovery from Covid-19, Stuart Steven continues to favour top-tier bonds from banks, insurers and telecom companies where he predicts very limited downgrades in the months ahead. Read more
Peter Michaelis

Should 2020’s unpredictability force a sustainable rethink?

The terrible events of the first half of the year have further highlighted the issues of social inequality and the parlous state of our natural world. Liontrust’s Peter Michaelis explains why capital markets and competition between companies can serve society to help produce a more sustainable world. Read more
Peter Michaelis

What are the prospects for Sustainable growth in the UK?

Following the enforced behavioural changes by Covid-19, Peter Michaelis analyses which UK stocks may benefit from positive structural growth over the long term. Read more
Julian Fosh

Why we have invested in IMI

The stockmarket setback in March allowed the Economic Advantage team to add a new company to the UK Growth Fund at an attractive price. Fund manager Julian Fosh explains how this high-quality cyclical stock could provide some upside to the eventual economic recovery from Covid-19. Read more
James Dowey

Why investors can’t ignore disruption

Disruption is impacting every sector, and it is becoming increasingly common to see the destruction of products and business models. James Dowey explains disruption, what is driving this and what makes a good disruptive investment. Read more
Phil Milburn

GFI Quarterly: Reasons to be cheerful (as well as fearful)

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
John Husselbee

The power of blending fund managers

Blending funds and managers is the key extra ingredient in portfolio construction. In this article, John Husselbee interviews two of his UK equity managers to illustrate the benefits of blending. Read more
John Husselbee

Active versus passive: what lockdown adds to the debate

Active and passive funds have performed differently in the downturn and recovery during Covid-19. John Husselbee looks at what this tells us about the best environments for each. Read more

The income case for quality high yield

Phil Milburn & Donald Phillips

With widespread cuts and suspensions to dividends by equities, Donald Phillips and Phil Milburn propose the quality end of high yield as a potential asset class for income investors. Read more
Alex Wedge

Silver linings playbook

Alex Wedge, fund manager in the Economic Advantage team, takes a look at some of the positive themes emerging in the smaller companies and micro-cap space as companies respond to the Covid-19 crisis. Read more
Storm Uru

Why innovation is important to income investing

Storm Uru, manager of the Liontrust Global Dividend Fund, explains how companies which are market leaders and have a culture of innovation are able to increase dividends long into the future. Read more
Donald Phillips

Examining high yield bond opportunities after sharp rise in spreads

Donald Phillips uses top-down market analysis and individual bond selection to examine the opportunities for investors following the sharp rise in high yield bond yields during March’s sell-off. Read more
James Inglis-Jones

Should investors protect against further falls or position for a rebound?

James Inglis-Jones explains why a change in behaviour by businesses and investors in response to Covid-19 points to a more positive 12-month outlook for equity markets. Read more

Continuing to fight the fashion revolution

Neil Brown

As Fashion Revolution Week 2020 comes to an end, Liontrust’s Neil Brown says protecting employees across global supply chains is more important than ever as we come through the COVID-19 crisis. Read more