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Fund manager

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Jen Causton

Sector review: A positive case for the UK

While global stock markets hit record highs in 2020, the FTSE 100 Index suffered a 14% decline. Jen Causton explains why the Liontrust Multi-Asset team see the UK as a strong bounceback candidate this year and which funds they favour to benefit from this. Read more
Donald Phillips

Why high yield bonds are an evergreen asset

Despite recent rises, government bonds still offer historically low yields. Donald Phillips explains how high yield bonds can provide extra income and ways in which investors can seek to minimise default risk. Read more
Thomas Smith

Russia: generating growth drivers beyond energy

The Russian economy has weathered the pandemic better than many other countries and is making good progress in its vaccination drive. Thomas Smith highlights how investors can benefit from the country’s stability and the broader growth across the economy, including the burgeoning technology sector. Read more
Peter Michaelis

Goodbye to an old friend – GW Pharma to leave Sustainable funds after 20 years

One of the longest held companies in the Sustainable Future funds is to exit the portfolios with the acquisition of GW Pharma completing in Q2. Peter Michaelis explains how this innovative healthcare business encapsulates what the team look for in sustainable companies. Read more

Liontrust Special Situations: A year of resilience

Anthony Cross & Julian Fosh

Anthony Cross and Julian Fosh were happy with how the majority of companies in Liontrust Special Situations fared during 2020 and this was reflected in the strong relative performance of the Fund in a turbulent year. In this article, the managers analyse the different phases of last year and what drove performance. Read more
Ruth Chambers

The Year of the Ox: Three themes for growth in China

As China has moved from the Year of the Rat to the Ox, the economy is growing at a similar rate to pre-Covid-19 and life has largely returned to normal in much of the country. Ruth Chambers highlights three areas that can drive growth for China over the year ahead. Read more
John Husselbee

Stonks, GameStop and Robinhood – a brave new world of investing?

With a struggling video game retailer at the vanguard of major changes to the investment industry, John Husselbee examines what the GameStop revolution could mean for the future of financial markets. Read more
Alex Wedge

Six small cap stocks investing in growth for 2021

Companies used stock market listings to access capital for emergencies or to fund acquisitions and investments for growth in 2020. Fund manager Alex Wedge highlights six small and micro cap stocks whose 2021 prospects have been boosted by significant recent investment. Read more
David Roberts

In a world of negative interest rates, can bond investors still expect positive returns?

Global bond yields have been falling for decades, so much so that G7 bonds would now provide you with a negative real return. David Roberts explains how taking a flexible approach to current bond markets can take advantage of the investment opportunities available. Read more
John Husselbee

How to find real yield in 2021

With ongoing concerns about equity dividends and worsening conditions for bonds, John Husselbee presses the case for real assets as a source of income. Read more
David Roberts

Are we wasting energy by looking for eurozone inflation?

With the recovery in energy prices set to feed through to higher inflation, David Roberts asks whether the ECB will drop any of its ultra-loose monetary policies. Read more

US equities in 2021 – Biden bounce or priced-to-perfection growth stocks and impeachment?

Liontrust Multi-Asset team

In this article, we ask whether the US can create fresh highs under the new President and highlight US funds held by the team. Read more
John Husselbee

Tactical Asset Allocation update: Q4 2020

John Husselbee explains the Multi-Asset team’s current TAA and how this has been impacted by the 4th quarter of 2020, along with an update on their view on Bitcoin. Read more
Donald Phillips

High yield should remain on the radar for 2021

Donald Phillips of the Liontrust Global Fixed Income team says a 4% to 5% base case for high yield bond returns in 2021 stacks up well against other asset classes, with the benefits of non-negotiable interest payments and the team seeking to limit default risk. Read more

Reasons to be Cheerful in 2021

Samantha Gleave, Victoria Stevens, Phil Milburn, Robin Geffen, Storm Uru and the Multi-Asset team

While 2020 was a year that no one will forget, mainly for the wrong reasons, there is cause for optimism in 2021. Liontrust fund managers highlight investment ideas that give them reasons to be cheerful for the year ahead. Read more

Why own bonds in 2021?

Liontrust Global Fixed Income Team

Investors are facing three challenges when investing in bond markets at the moment – in aggregate they look expensive, there is a lack of yield and they have higher interest rate risk. The Liontrust Global Fixed Income team explains why there are still opportunities to take advantage of market inefficiencies and generate relatively attractive levels of income. Read more
John Husselbee

2020: Words of this unprecedented year

John Husselbee tracks the linguistic developments of a year that made the world all too aware of the difference between an epidemic and a pandemic and looks ahead to 2021. Read more
Storm Uru

Where can income investors go for dividend growth?

Despite a bleak outlook for income investors, Storm Uru explains that over the next decade income investing will not be about chasing yield but buying an increasing number of companies that are well-positioned to drive dividend growth for investors. Read more
Peter Michaelis

Ongoing evolution of our Sustainable Investment themes

The Sustainable Investment team have added a new leisure theme and updated three others as part of their annual review. Peter Michaelis explains the reasoning behind and opportunities for these themes. Read more
Martyn Jones

Encouraging sustainable leisure – introducing our new theme

With leisure activities seen as a fundamental human need and increasingly important for a healthier future, Martyn Jones introduces the Sustainable Investment team’s newest theme and some of the stocks exposed to it. Read more
Samantha Gleave

Avoiding the crowds

Taking a contrarian investment view may seem like an added risk after all the uncertainty this year but Samantha Gleave explains why investors should consider avoiding the crowds. Read more
David Roberts

12 Myths of Bondmas

There are many misconceptions about the bond market and the forces that drive it. In this article, Global Fixed Income team fund manager David Roberts tackles 12 of the biggest current myths of investing in bonds. Read more
Mike Appleby

1.5 Degree Transition Challenge: engagement update

At the start of 2020, the Liontrust Sustainable Investment team called for all companies within its equity and bond funds to explain how they plan to decarbonise their businesses to limit global warming to 1.5 degrees. Mike Appleby gives a progress report on the engagement activity. Read more

Q4 Strategy – How Steep Can Curves Go?

Liontrust Global Fixed Income Team

With economic prospects looking strong for the second half of 2021 and inflationary pressures likely to rise, the Global Fixed Income team explain how their portfolios are positioned for next year. Read more
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