The Fund aims to deliver income with capital growth over the long term (5 years or more).
Fund Manager
Jack Willismanager
for
3 years
and 5 months
Jack Willis joined Liontrust in April 2017 as part of the company's acquisition of Alliance Trust Investments. He started his career on the Alliance Trust Management training programme in September 2014 after graduating with First Class Honours in Mathematics with Finance from the University of Leeds and subsequently completing an MSc in Finance and Investment with Distinction, also at the University of Leeds. Following a successful period as a credit analyst within the team, he is now Co-manager on the Liontrust Monthly Income Bond Fund, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Jack is a CFA Charterholder.
Kenny Watsonmanager
for
10 years
and 11 months
Kenny Watson joined Liontrust in April 2017 after more than three years at Alliance Trust Investments. He is a Co-manager of the Liontrust Monthly Income Bond, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Prior to this, he worked for Ignis Asset Management for 15 years, specialising first in UK smaller companies, before moving to the fixed income team in 2004 where he was responsible for the sub-investment grade bond portfolios including the High Income Bond Fund. Prior to focusing on sub-investment grade bonds, he was part of the team managing investment grade life company mandates. He started his career at KPMG, after qualifying as a chartered accountant, before joining Murray Johnstone as a trainee fund manager in UK equities in 1994. Kenny has a BA in Accounting & Economics from the University of Strathclyde and is a chartered accountant.
Aitken Rossmanager
for
10 years
and 6 months
Aitken Ross joined Liontrust in April 2017 as part of the company's acquisition of Alliance Trust Investments. He started his career on the Alliance Trust Management training programme in September 2010 after graduating in Accountancy and Finance (First Class Honours) from Dundee University and subsequently completing an MA in International Financial Analysis (Distinction) at Newcastle University. Following a successful period as an analyst within the team, he is now Co-manager on the Liontrust Monthly Income Bond Fund, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Aitken is a CFA Charterholder.
Fund Overview
Mid (30/08/2024)
72.00p
Distribution yield
4.28%
Underlying yield
-
Fund size (31/07/2024)
£636.17m
Number of holdings
78
Entry Charge
0.00%
Ongoing Charges
0.56%
Launch date
19/02/2001
Asset Allocation
UK Corporate Bonds
43.80%
International Bonds
31.86%
Cash and Equivalents
8.17%
UK Gilts
2.94%
UK Equities
1.98%
Other Assets
11.24%
Commentary
Corporate bond markets ended the year on a positive note, and continued their outperformance of government bonds. New issue activity was relatively light as the holiday season approached, and investors focused their attention on the US. The Federal Reserve’s decision to maintain its asset purchase programme, at least until US unemployment falls back to 6.5 per cent, was welcomed by investors. In view of protracted negotiations between president and congress to avert the looming ‘fiscal cliff’ of tax hikes and spending cuts in the New Year, we actively managed the interest rate sensitivity of the portfolio during the month. At the end of December, the portfolio was positioned for an anticipated period of weakness in the gilt market in the early weeks of 2013. Activity was relatively light last month. We sold down our holding in US telecoms operator AT&T after a review of the company’s rating on SRI criteria highlighted concerns over its corporate governance record and caused us to downgrade its sustainability rating. We participated in a new issue of 20-year bonds from Notting Hill Housing Association, which came to the market on an attractive valuation and provides significant exposure to the affordable accommodation sector.
Portfolio data accurate as at: 31/07/24
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Portfolio data accurate as at:
Asset Allocation
UK Corporate Bonds
43.80%
International Bonds
31.86%
Cash and Equivalents
8.17%
UK Gilts
2.94%
UK Equities
1.98%
Other Assets
11.24%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Bonds
78.60%
-
-
-
Non-Classified
13.22%
-
-
-
Cash and Equivalents
8.17%
-
-
-
Regional Allocation
UK
48.73%
Non-Classified
21.77%
Developed Europe - Excl UK
15.42%
Cash and Equivalents
8.17%
North America
5.91%
Fixed Interest Currencies
Pound Sterling
64.82%
Non-Fixed Interest Assets
17.82%
Euro
9.11%
US Dollar
4.68%
Cash
3.58%
Regional Breakdown
Expand allCollapse all
Region
Country
UK
48.73%
-
United Kingdom
-
48.73%
Non-Classified
21.77%
-
Developed Europe - Excl UK
15.42%
-
France
-
6.08%
Netherlands
-
4.62%
Ireland
-
1.57%
Denmark
-
1.13%
Spain
-
1.02%
Germany
-
1.00%
Cash and Equivalents
8.17%
-
North America
5.91%
-
United States
-
5.91%
Fixed Interest Maturity Profile
< 5Yr Maturity
6.35%
5Yr - 10Yr Maturity
39.15%
10Yr - 15Yr Maturity
14.32%
> 15Yr Maturity
18.77%
Cash And Equivalents
8.17%
Unknown Maturity
11.24%
Other Asset Types
1.98%
Fixed Interest Quality Profile
AA
4.26%
A
22.09%
BBB
38.01%
Unknown Quality
14.24%
Cash and Equivalents
8.17%
Other Asset Types
13.22%
Top 10 Holdings
Stock
% Weight
Sector
Country
1
⅞% Green Gilt 2033
2.94%
Bonds
United Kingdom
2
LEGAL & GENERAL GRP PLC
2.28%
Bonds
United Kingdom
3
AT&T INC
2.27%
Bonds
United States
4
VERIZON COMMUNICATIONS INC
2.21%
Bonds
United States
5
ZURICH FINANCE (IRELAND) DAC
2.01%
Bonds
Non-Classified
6
STANDARD CHARTERED PLC
1.98%
Non-Classified
United Kingdom
7
ROTHESAY LIFE LTD
1.94%
Bonds
United Kingdom
8
NATIONAL WESTMINSTER BANK PLC
1.84%
Non-Classified
Non-Classified
9
BUNZL PLC
1.63%
Bonds
United Kingdom
10
ING GROEP NV
1.63%
Bonds
Netherlands
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
Sedol Code
3002906
Mex Code
NUSCB2
Isin Code
GB0030029069
Citi Code
CU97
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.56%
Aims and Benchmark
Aims
The Fund aims to deliver income with capital growth over the long term (5 years or more).
Benchmark
IBOXX GBP Corporate All Maturities
Benchmark Category
Comparator
IA Sector
£ Corporate Bond
Fund Background
Valuation frequency
Daily
Valuation point
12:00
Fund type
OEIC
Launch price
£0.50
Fund currency
Pound Sterling
Fund domicile
United Kingdom
ISA allowable
Yes
SIPP allowable
Yes
Distribution Details
Income frequency
Quarterly
Distribution Type
Interest
Distribution Payment Basis
Net
Distribution Dates
Ex dividend date(s)
Income payment date(s)
01 February
31 March
01 May
30 June
01 August
30 September
01 November
31 December
Ratings
FE Crown
Effect of Deductions
Assuming a growth rate of 6.00%
Assuming a growth rate of 7.00%
4.50%
5.50%
Fund Administration
Fund Trustee/Depository
The Bank of New York Mellon (International) Limited
Fund Administrator
The Bank of New York Mellon (International) Limited
Fund Registrar
The Bank of New York Mellon SA/NV
Fund Custodian
The Bank of New York Mellon (International) Limited
Group Details
Group name
Liontrust Fund Partners LLP
Group address
2 Savoy Court
London
WC2R 0EZ
Group telephone
020 7412 1766
Dealing telephone
020 7964 4774
Email
info@liontrust.co.uk
Homepage
www.liontrust.co.uk
Fax number
020 7412 1779
Dealing
Minimum Investment
£500000
Minimum Top Up
£25000
Minimum Regular Saving
-
Settlement Period: Buy
4 days
Settlement Period: Sell
4 days
Pricing Basis
Forward
Dealing Decimals
3
Important Information
Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.