Liontrust is to merge its UK Mid Cap and UK Opportunities funds with the Liontrust UK Growth fund. Mark Martin, who previously managed the former two funds, has left the business with immediate effect. Existing investors in the Liontrust UK Growth Fund are unaffected by the change.
Investors in Liontrust UK Mid Cap or Liontrust UK Opportunities should check that the Liontrust UK Growth Fund is suitable for their circumstances and attitude to risk. If at all unsure seek personal advice.
Why is the transfer happening?
Liontrust acquired the UK Mid Cap and UK Opportunities funds following its takeover of rival Neptune in October 2019. Some fund consolidation was to be expected.
Both funds have been through a tough period of performance in recent years, and their size has remained relatively small. The decision was therefore taken to merge them into the larger Liontrust UK Growth Fund, part of the successful Economic Advantage franchise.
A bit more about the Liontrust UK Growth Fund
The Liontrust UK Growth Fund is run using the managers' trademark 'Economic Advantage' approach. They invest in UK companies with an edge over the competition that is hard to replicate, such as intellectual property (like patents and trademarks), strong distribution channels and significant repeat business.
The fund launched in March 1993 but Cross and Fosh took control and started applying the Economic Advantage investment process in March 2009. Since then, the fund's turned an investment of £10,000 into £36,438*. The broader UK stock market's returned £24,992* over the same time period, although past performance is not a guide to the future.
Our analysis suggests returns were boosted by the managers' ability to invest in companies with outstanding prospects, regardless of their size or what sector they're in. Remember the value of investments will fall as well as rise, so you could get back less than you invest. Liontrust intend to continue to run the UK Growth fund in line with the established process and philosophy.
Liontrust UK Growth currently has an investment in Hargreaves Lansdown Plc shares.
|Annual percentage growth|
| Jul 14 -
| Jul 15 -
| Jul 16 -
| Jul 17 -
| Jul 18 -
|Liontrust UK Growth||13.9%||12.5%||12.8%||4.0%||-12.0%|
|Liontrust UK Opportunities||-1.3%||16.1%||-0.4%||-5.4%||-17.7%|
|Liontrust UK Mid Cap||-0.6%||15.1%||-2.9%||-12.8%||-17.5%|
|FTSE 250 (excluding Investment Trusts)||-0.8%||17.2%||8.4%||-5.0%||-15.1%|
Past performance is not a guide to the future. Source: *Lipper IM to 31/07/2020
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