Coronavirus - we're here to help
From how to access your account online, scam awareness, your wellbeing and our community we're here to help.

Skip to main content
  • Register
  • Help
  • Contact us
  • Log in to HL Account

Liontrust UK Smaller Companies Class I - Income (GBP)

Sell:1,775.86p Buy:1,818.73p Change: 15.87p (0.90%)
Prices as at 3 December 2020
Sell:1,775.86p
Buy:1,818.73p
Change: 15.87p (0.90%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 3 December 2020
Sell:1,775.86p
Buy:1,818.73p
Change: 15.87p (0.90%)
Prices as at 3 December 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

View our full research note on the Liontrust UK Smaller Companies Fund »

Our view on the sector

Smaller companies in the UK are among the most innovative and exciting around. They can be pioneers of an emerging industry, and adapt quickly to new opportunities. We think their long-term growth prospects are compelling. Some will blossom into the giants of tomorrow. But others will struggle or fail altogether, so they are higher risk. Unlike larger companies such as Tesco or Vodafone, which might have dozens of analysts poring over their accounts, smaller companies tend to be less researched. They might only have one or two analysts covering them which creates opportunities for eagle-eyed fund managers to spot hidden gems. Over the past decade, innovations such as the internet have allowed smaller companies to level the playing field with larger rivals. Even so, they tend to be more sensitive to the UK economy then larger companies so you should expect more ups and downs along the way. We think UK smaller companies could be a great addition to a diversified portfolio able to accept the increased volatility.

Performance Analysis

Performance analysis for this fund is not available.

Investment Philosophy

Investment philosophy for this fund is not available.

Process and Portfolio Construction

Process and portfolio construction for this fund are not available.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

03/12/15 to 03/12/16 03/12/16 to 03/12/17 03/12/17 to 03/12/18 03/12/18 to 03/12/19 03/12/19 to 03/12/20
Annual return 10.98% 30.27% 1.54% 14.66% 15.27%

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.

Information about the fund

Fund manager biography

manager photo
Manager Name: Victoria Stevens
Manager start date: 1 June 2015
Manager located in: 2 Savoy Court, London, WC2R 0EZ, United

Victoria Stevens, CFA, joined Liontrust in June 2015 as a partner and fund manager. She previously worked at the growth company specialist broking and advisory firm finnCap Ltd, latterly as deputy head of corporate broking. Responsible for advising listed corporate clients on strategic issues and their communication with investors, as well as analysing investment opportunities and broking them to buy side clients, Victoria developed a strong relationship with Anthony and Julian. She joined the Economic Advantage team to further develop its expertise in the small cap investment arena. Victoria also previously worked as a senior reporter and diary editor at the financial newspaper City AM, having studied Modern Languages at the University of Oxford.

manager photo
Manager Name: Matthew Tonge
Manager start date: 1 September 2015
Manager located in: 2 Savoy Court, London, WC2R 0EZ, United

Matthew Tonge joined the Liontrust trading desk in 2003 from Barclays Capital Asset Management, becoming a partner in 2011. Responsible for execution across all the firm's assets, in 2014 he was voted Mid-Tier trader of the year by The Trade magazine for his work in mid and small cap stocks, the inaugural year of the award. Having worked closely with Anthony and Julian for many years, in September 2015 he took the opportunity to join the Economic Advantage team to help research and analyse companies across the small cap universe. Matt graduated from the University of Birmingham in 2000, with First Class Batchelor degrees in Manufacturing Engineering (BENG) & Commerce (BCOM), winning the Gilbert Walker Prize in Engineering and Economics as top student in his year. Matt also holds the IMC.

manager photo
Manager Name: Anthony Cross
Manager start date: 8 January 1998
Manager located in: 2 Savoy Court, London, WC2R 0EZ, United

Anthony Cross joined Schroder Investment Management as a graduate trainee. He spent his first three years as an equity analyst before joining the Smaller Companies team in 1994. During this time, Anthony identified a number of characteristics common to successful companies and on joining Liontrust in 1997 he was able to develop his thoughts further and create a documented investment process. This process, called Liontrust Economic Advantage, was applied to the Liontrust UK Smaller Companies Fund from the start of 1998. Its success and relevance to the broader market led to the launch of the Liontrust Special Situations Fund in 2005 and the management of the Liontrust UK Growth Fund in 2009. Awards for the funds that Anthony co-manages with Julian Fosh include Liontrust being named Best UK Equity Group by Money Observer magazine, the Liontrust Special Situations Fund being named: Best UK Growth fund at the Investment Week Fund Manager of the Year Awards in 2011 and 2012; Best UK Growth Fund at What Investment magazine; Best Fund in the UK All Companies Sector at the Moneywise Fund Awards 2012; and won the UK Equity Gold Award 2012 from Portfolio Adviser. The fund is also member of the 2012 100 club. Anthony graduated in 1990 from Exeter University with a degree in politics.

manager photo
Manager Name: Julian Fosh
Manager start date: 2 June 2008
Manager located in: 2 Savoy Court, London, WC2R 0EZ, United

Julian Fosh joined Liontrust in 2008 from Saracen Fund Managers Ltd to co-manage the Liontrust UK Growth, Special Situations and UK Smaller Companies Funds with Anthony Cross. Julian has worked with Anthony to develop the Liontrust Economic Advantage process. Awards for the funds that Julian co-manages with Anthony Cross include Liontrust being named the Best Smaller Companies Group at the Professional Adviser Awards in 2009 and the Liontrust Special Situations Fund being named as the Best UK Growth fund at the Investment Week Fund Manager of the Year Awards in 2011 and 2012. From 2004 to 2008, Julian was the co-manager of Saracen Growth Fund, a top quartile performing UK equities portfolio. Before this, Julian headed up the investment department at Scottish Friendly Assurance Society Limited where he managed a range of funds including UK equity OEICs, life and pension funds. In his eight years at Scottish Friendly, six of Julian's nine funds were in the top quartile of their respective sectors. In a career going back to 1984, Julian has also worked at Britannia Investment Managers and Scottish Amicable. Julian graduated in 1994 from Merton College Oxford with an MA in Jurisprudence.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account