Fund manager


Phil Milburn

Quarterly review – stimulus wave continues in ‘bad news is good’ period

Long read: Waves of monetary stimulus continues over a quarter in which we returned to the days of ‘bad news is good’. Read more
Donald Phillips

Transatlantic valuation blues

With central bank manipulation continuing to skew bond markets, Donald Phillips says now is an opportune time to be reducing exposure to European high yield. Read more
Mark Williams

Untangling a web of rate cuts, tariff threats and renminbi retaliation

The most significant events of the past week in Asia for investors are not the ones that have been grabbing the headlines. Read more
Jamie Clark

Eight charts showing the UK yield opportunity

Dividend yield is an important, but often neglected marker of value. Jamie Clark explains why now is an unprecedented moment to buy UK dividend payers. Read more
David Roberts

The Kiwi conundrum

What does a small, flightless bird have to do with markets? Read more
Mike Appleby

Increasing tailwinds behind renewables

With wind and solar now the UK’s cheapest forms of electricity, Mike Appleby posits renewables will be virtually impossible to compete against economically as early as 2025. Read more
David Roberts

730 billion reasons to be cheerful

Following last night’s US rate cut, David Roberts explains why he thinks US policymakers are too pessimistic and reveals that consumers actually have 730 billion reasons to be cheerful”. Read more
David Roberts

Sterling hits new lows - so why is everyone rushing to buy gilts?

As no-deal Brexit concerns push sterling down to fresh lows, David Roberts questions the logic behind the simultaneous rally in UK government bonds. Read more
Mike Appleby

A climate of positive change?

The environmental damage of climate change is the most prominent consequence of the world’s consumption fuelling the unsustainable exploitation of resources. Mike Appleby highlights the other serious impacts of this unsustainable exploitation and the investment opportunities from seeking to tackle these issues. Read more
Phil Milburn

Thinking inside the box

Phil Milburn outlines the latest position on the Liontrust Global Fixed Income funds, a rare ‘box trade’ capturing current pricing anomalies between French and German debt. Read more
Mark Williams

Why we want an economic slowdown in China

Recent news about the economic slowdown in China has added to the negative press since the trade war started. Mark Williams, manager of the Liontrust Asia Income Fund, explains why a slowdown in growth is necessary as China continues its economic rebalancing. Read more
Jamie Clark

The unique value opportunity in the FTSE 100

UK large cap stocks have been unloved of late. Jamie Clark explains why the underperformance of value versus growth and Brexit means it’s time to take a fresh look at companies in the FTSE 100. Read more
John Husselbee

Chart Of The Month

July 2019

In July’s Chart Of The Month we take a look at liquidity. It has quickly become a trending topic post the suspension of Neil Woodford’s Equity Income fund – but the detail is getting lost and we are rapidly approaching ‘liquidity good, illiquidity bad’ territory. Read more
Simon Clements

A digital postcard from San Francisco

As the US celebrates Independence Day, Liontrust’s Simon Clements reflects on his recent visit to the US, and explains how companies such as Paypal are helping make the world a safer and more efficient place. Read more
Mike Appleby

Getting on the right side of the energy transition

Mike Appleby explores the increasing tailwinds behind renewable energy, and what this means for sustainable investment. Read more

Seven stocks to invest in for a cleaner, safer and more efficient economy

Liontrust Sustainable Investment Team

As London Climate Action Week continues, Liontrust’s Sustainable Investment team highlights seven stocks to invest in for a cleaner, safer and more efficient planet. Read more
Jamie Clark

What is liquidity and why does it matter?

The subject of liquidity has returned to the spotlight in recent weeks. In this blog, Jamie Clark explains why liquidity should matter to investors and how the Macro team have approached this risk in their portfolios. Read more
Chris Foster

Will a cashless society pay off?

Debate continues to rage about the diminishing role of cash in society and whether this risks leaving swathes of the population behind. Chris Foster says the shift to digital payment brings net positives overall, highlighting the potential reduction in tax evasion and exposing the shadow economy. Read more
David Roberts

Central banks exacerbate extraordinary bond markets

Following another round of vacillating central bank meetings last week, David Roberts asks whether officials are managing monetary policy to support the economy or simply to boost the value of financial assets. Read more
Donald Phillips

Measuring success in high yield

With the GF High Yield Bond Fund passing its first year anniversary, co-manager Donald Phillips explains why measuring performance against traditional indices has limitations and why the Fund is pursuing a no-junk, anti-thematic approach. Read more
John Husselbee

What I learnt from my US visit

Following a recent visit to Chicago for the annual Morningstar Investment Conference, John lists his key takeaways from this influential event. Read more
Shashank Savla

The early take on Indian elections

As the Indian election results roll in, Shashank Savla gives his take on what they mean for investors. Read more
John Husselbee

Chart Of The Month

May 2019

May’s Chart Of The Month shows US outperformance relative to the rest of the world during John Husselbee's 30+ year career. Read more
James Inglis-Jones

Why we’ve raised our net exposure

The Liontrust GF European Strategic Equity Fund has almost doubled its market exposure from 35% to 67%. James Inglis-Jones and Samantha Gleave explain what has driven this change. Read more
David Roberts

Has the Fed taken away the punchbowl?

Following interest rates being kept on hold last night, markets reacted strongly to the Chair of the Federal Reserve, Jerome Powell, reiterating his view that the next move will be data dependent and they could go up or down. David Roberts looks at whether this changes anything for markets and investors. Read more
Mike Appleby

Investing towards a net zero emissions world

The government’s official advisers, the Committee on Climate Change (CCC), have recommended this morning that the UK’s greenhouse gas emissions should fall to net zero by 2050. Mike Appleby explains the implications for investors, how the Sustainable Investment team’s portfolios are invested in ingenious, efficient businesses whose profits grow in line with demand for their solutions for greenhouse gases and how investing in this way can help the move to a healthier and cleaner world. Read more
Mike Appleby

Increasing tailwinds behind renewables

With wind and solar now the UK’s cheapest forms of electricity, Mike Appleby posits renewables will be virtually impossible to compete against economically as early as 2025. Read more

Where next for interest rates in the US, Europe and UK?

Olly Russ, Phil Milburn, David Roberts, Jamie Clark and Stuart Steven

With the direction of interest rates looking very much up in the air, we asked some of our fund managers what we should expect from US, European and UK central banks this year. Read more

Eight investment lessons from Game of Thrones

David Roberts, Simon Clements, Matt Tonge, John Husselbee, Carolyn Chan, Jamie Clark, James Inglis-Jones and Olly Russ

Millions of people will be gripped by the battle for the Iron Throne in the final season of Game of Thrones. As the fantasy saga enters its final phase, Liontrust fund managers highlight eight investment lessons from key characters in Westeros. Read more
Shashank Savla

The world’s largest democratic exercise - what it means for investors

As 600 million people go to the polls in the largest democratic exercise ever undertaken, Shashank Savla looks at the impact of Indian elections for investors in Asia. Read more
Jamie Clark

Three reasons why UK rates are still heading higher

Markets are only pricing in a one-in-five chance of a UK interest rate rise in the next year. Jamie Clark explains why he still expects rate hikes. Read more
Donald Phillips

Looking through a zombie apocalypse

With growing focus on the so-called ‘zombie’ end of the high yield market, kept alive by years of loose monetary policy, Donald Phillips considers the impact on the sector – and the opportunity – if these walking dead were wiped out. Read more
Olly Russ

The winners and losers from 20 years of the euro

Long read: The euro reaching the age of 20 has slipped under the radar amid the ongoing Brexit saga. Olly Russ analyses whether the single currency has been a success or if the Cassandra voices warning of trouble ahead were right after all, and he looks at which countries have been the winners and losers from the euro. Read more
David Roberts

Ten trades to put a spring in your step

Ahead of the first anniversary of the Liontrust Strategic Bond and GF Strategic Bond Funds, David Roberts outlines 10 trades where he sees opportunities for investors over the coming months. Read more
Jamie Clark

How ‘Brexit discount’ has created a margin of safety in shares of UK banks

Since the EU referendum, domestically focused UK shares have underperformed more international businesses by around 30%. Jamie Clark explains why this ‘Brexit discount’ has created an opportunity in UK banks. Read more
Carolyn Chan

Staying overweight Thailand despite electoral chaos

Thailand has been hit by political turmoil in the country’s first national elections since a military coup in 2014. But Carolyn Chan explains why the Liontrust Asian Income Fund is sticking to its overweight exposure of 8.8% and remains confident about domestic growth. Read more
Mike Appleby

Aligning our funds with the UN Sustainable Development Goals

The UN’s Sustainable Development Goals (SDGs) are a comprehensive way of thinking about and reporting on sustainable investing. Mike Appleby explains how the Liontrust Sustainable Investment team aligns its themes with the SDGs and the impact of doing so. Read more
Phil Milburn

This is what it sounds like when doves coo

Having warned of ‘screaming markets’ under over-zealous Fed tightening, Phil Milburn analyses the friendlier noises emanating from the newly dovish central bank and the opportunities in such an environment. Read more
David Roberts

Fed entering the danger zone

With further dovish noises from the Federal Reserve, David Roberts considers the possible consequences of kicking the policy normalisation can down the road. Read more
Mark Williams

Why are Chinese stockmarkets this year’s top risers?

Why are Chinese stockmarkets this year's top risers? Mark Williams takes a look at what has driven China’s standout performance. Read more
John Husselbee

Husselbee on Axa UK Select Opportunities

With long-term Axa UK Select Opportunities manager Nigel Thomas retiring this month, John Husselbee explains why he is keeping the fund in his portfolios. Read more
Mike Appleby

Investing to reduce carbon emissions

How we generate and consume energy is undergoing huge change but the science is telling us to act ever faster to reduce greenhouse gas emissions. Mike Appleby explains how our Sustainable funds are emitting less carbon than the markets in which they invest and the potential benefits for investors. Read more
Victoria Stevens

Victoria Stevens reflects on three years co-managing Liontrust UK Micro Cap

As the Liontrust UK Micro Cap Fund hits its 3 Year Anniversary - and on International Women’s Day - co-manager Victoria Stevens reflects on her first three years running investments. Read more
John Husselbee

Dunn’s Law – more fuel for the active/passive fire?

John Husselbee runs the rule over Dunn’s Law, a theory out of the US increasingly used to stoke the active/passive debate. Read more
John Husselbee

Thoughts on a no deal Brexit

John Husselbee, Head of Multi-Asset at Liontrust, has been asked by many clients recently what changes he and Paul Kim will make to their portfolios in the event of a no-deal Brexit. Click here to read what they are telling clients as the clock ticks down towards 11pm on 29 March. Read more

Liontrust’s long-term relationships

Matt Tonge, Mike Appleby, Olly Russ, Carolyn Chan, Stephen Bailey & Samantha Gleave

Ahead of Valentine’s Day, our fund managers discuss the long-term relationships they’ve had with companies they invest in and why, even after years together, they still find them attractive. Read more
Jack Willis

Fallen angel risk – not all BBB bonds are created equal

Recent comments from Big Short guru Steve Eisman about growing risk in the BBB bond space have understandably raised concerns. Jack Willis argues that the increasing size and scope of this sector precludes sweeping judgements and explains how an active approach can sidestep the higher-risk segments. Read more
Mike Appleby

The materials challenge – from linear to circular

While plastic pollution continues to dominate the news agenda, Mike Appleby explains how a more nuanced look at the broader materials sector can potentially reap rewards for investors. Read more
David Roberts

Reconciling eurozone inflation and a German budget surplus

David Roberts suggests European Central Bank policy to keep interest rates at emergency levels – despite stable inflation – continues to distort markets. Read more
Stephen Bailey

A Scarce Resource update in three charts

Stephen Bailey explains why a mining industry focused on value rather than volume is good news for shareholders. Read more