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Liontrust Macro Equity Income Class I - Income (GBP)

Sell: 181.50pBuy: 183.15p2.29p (1.26%)

Prices as at 21 October 2014

* Please note that there can be occasions when the Selling price shown may be temporarily higher than the Buying price. This can sometimes happen when the stock market is closed but it can also happen at other times for a variety of reasons. However, when the stock market is open and you place a trade, the selling price available to you will never be higher than the buying price. Live prices will be available when you place a deal with us during market hours. Please check these and contact us if you are unable to deal online.
Also available as accumulation units Help

Charges and Savings

Fund manager's initial charge: 0.00%
HL saving on initial charge: 0.00%
HL dealing charge: Free
Net initial charge: 0.00%
Fund manager's annual charge: 0.75%
HL saving on annual charge (loyalty bonus): 0.00%
Net annual charge: 0.75%
 
Fund manager's other expenses: 0.15%
Performance fee: No  

Please read the Simplified Prospectus/Key Investor Information Document (KIID) in addition to the information above. Further details available in the HL guide to fund prices, savings and yields. Loyalty bonus is paid tax-free in an ISA or SIPP but may be subject to tax in a Fund & Share Account.

HRMC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held outside ISAs or SIPPs should be paid net of basic rate tax. We believe this is incorrect and are challenging HMRC's interpretation. However, in line with best client accounting practice and to save clients facing an unexpected bill in the future, we are currently paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC. Loyalty bonuses in the Vantage Fund & Share Accounts held by overseas investors, companies and charities will be paid without any deductions, as will loyalty bonuses in the Vantage ISA and Vantage SIPP which are exempt from tax.

Other Information

Unit type: Unbundled
Manager: Multiple
Fund launch date: 31 October 2003
Sector: UK Equity Income
Fund size: £548 million
Number of holdings: 51
Fund type: Unit Trust
Accumulation/income: Income
Dealing frequency: Daily
Valuation point: 12:00
Trustee: State Street
Minimum investment: £100.00
Charges deducted from: Capital
Available in a regular savings plan: Yes
Minimum regular savings value: £25.00

Performance

22/10/09 to 22/10/10 22/10/10 to 22/10/11 22/10/11 to 22/10/12 22/10/12 to 22/10/13 22/10/13 to 22/10/14
Annual return n/a n/a n/a 25.04% 0.49%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

View fund chart

Our view on this fund

The portfolio is structured based on the wider economic, political and social views of Jan Luthman and Stephen Bailey, the fund's co-managers. Their thematic investment approach has helped deliver good returns for investors over the long term.

The fund was removed from the Wealth 150 in September 2014 as performance had been average and in line with the peer group for a number of years, which our analysis attributes to weaker stock selection. In addition, the fund has relatively high fees....

Read more HL research on this fund

Fund Objective

The investment objective of Liontrust Macro Equity Income Fund is to provide a rising level of income, together with capital growth. In providing an above average level of income, particular attention will be paid towards capital security and maintenance. There is no restriction on the economic sectors or geographical areas in which the Fund may invest, however, the investments will be predominantly in ordinary shares of UK companies.

Income Details

Historic yield : 4.36%
Income paid: Bi-annually
Type of payment: Dividend
Ex-dividend date: 1 February 2015 1 August 2015
Payment date: 31 March 20154 30 September 20154

All yields are variable and not guaranteed. Information correct as at 30 September 2014.

Sector Weight
Financial Services 22.17%
Pharmaceuticals & Biotechnology 18.39%
Fixed Line Telecommunications 10.32%
Oil & Gas Producers 9.39%
Media 5.57%
Real Estate Investment Trusts 5.32%
Life Insurance 5.21%
Construction & Materials 4.23%
Mining 4.16%
Support Services 4.14%
Country Weight
United Kingdom 79.22%
United States 14.46%
Direct Property and REITs 5.32%
Cash and Equiv. 0.52%
Netherlands 0.48%

Fund Manager

1 of 2
Photo of Jan Luthman

Key facts

Jan Luthman
Manager start date 31/10/2003
Manager located in London

Biography

Jan Luthman joined Liontrust in April 2012, transferring from Walker Crips Asset Managers (WCAM). He joined WCAM in 2000. A graduate in civil engineering, Jan has 18 years of experience in international corporate management. Following a mid-life career change, he was in the first group to pass the Securities Association exam in Investment Analysis in 1987 (and one of a select few to do so with Credit) and then entered fund management in 1988.

Photo of Stephen Bailey

Key facts

Stephen Bailey
Manager start date 31/10/2003
Manager located in London

Biography

Stephen Bailey joined Liontrust in April 2012, transferring from Walker Crips Asset Managers. Stephen started his career in stockbroking in 1985 as a private client portfolio manager with Statham, Duff, Stoop. He followed this with a year at Sheppards & Chase, before joining Walker Crips Weddle Beck plc in 1987. During his time at Walker Crips, he was investment director of Walker Crips Group and, with the support of Jan Luthman, was the architect and driving force behind the development of their asset management business.

You can buy or sell holdings in this fund through a NISA, SIPP or Fund & Share Account

Data received from the Fund Management Company administering this fund and provided to you for your information. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.

4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.

Prices as at 21 October 2014. Data as at 31 August 2014.

Wealth 150 fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

Wealth 150+ fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

As investment returns depend on two factors - performance and charges - we have identified from the Wealth 150, the funds we believe offer the very best combination of outstanding performance potential and the best prices. These are the Wealth150+ funds. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.

Core Tracker fund

The Core Trackers list represents what we believe are the very best trackers in each of the main sectors. We analysed each fund's management, process and performance to find the best combination of quality and cost. We want to ensure that the fund has not only tracked its index closely in the past, but that it has the best potential to track well in the future. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.



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