Wealth Shortlist Update: Liontrust UK Equity
Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
6 October 2023 | 2m read
We have taken the decision to remove the Liontrust UK Equity fund from the Wealth Shortlist.
Chris Field, co-manager of the fund, will retire from Liontrust Asset Management on 1 November 2023. James de Uphaugh will also step away from the fund at the same time Field retires and will himself retire in February 2024.
Imran Sattar will become the sole manager of the fund from November, supported by the broader Global Fundamental investment team at Liontrust.
Following these changes, the fund’s style will evolve to reflect Sattar’s investment philosophy. We expect the fund to become more concentrated but invest more in larger companies, and less in smaller companies. We also expect the fund’s style to become more growth orientated so it will offer investors a different exposure to the UK market than it has done in the past.
Our View
We have valued the fund’s unique structure which has combined the best ideas of three fund managers, carefully blending their strengths and styles together. It’s offered something different to many of its peers in the IA UK All Companies sector and given investors access to some talented managers.
James De Uphaugh and Chris Field have both been analysing and investing in UK companies for more than three decades. They were founding members of Majedie Asset Management before moving across to Liontrust when Majedie was acquired. The loss of their vast experience reduces our conviction below the level required for the fund to remain on the Wealth Shortlist.
Though Sattar is an experienced UK equity fund manager in his own right, our conviction in him is lower than in Field and de Uphaugh. And the style Sattar’s fund will offer investors is one we feel we have well covered in our UK Growth fund selections on the Wealth Shortlist, where we have higher conviction in other managers.
Although we're removing the Liontrust UK Equity fund from the Wealth Shortlist, this isn't a recommendation to make any changes to a portfolio. Investors should make sure any investments match their investment goals and attitude to risk and are held as part of a diversified portfolio. If you're not sure if an investment is suitable for your circumstances, please ask for personal advice.
Scroll across to see the full table.
| Annual percentage growth | |||||
|---|---|---|---|---|---|
|
Sept 18 - Sept 19 |
Sept 19 - Sept 20 |
Sept 20 - Sept 21 |
Sept 21 - Sept 22 |
Sept 22 - Sept 23 |
|
| Liontrust UK Equity | -2.85% | -13.92% | 29.99% | -15.77% | 20.22% |
| FTSE All Share | 2.68% | -16.59% | 27.89% | -4.00% | 13.84% |
| IA UK All Companies | 0.12% | -12.94% | 32.24% | -15.39% | 12.50% |
Past performance is not a guide to the future. Source: Lipper IM to 30/09/2023.
Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
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