Liontrust UK Smaller Companies Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | 15.0% | 29.1% | -19.6% | -8.7% | 8.3% |
| Sector | 6.1% | 26.2% | -21.2% | -6.6% | 14.9% |
| Rank | 6/41 | 15/41 | 16/42 | 29/43 | 39/43 |
| Quartile | 1 | 2 | 2 | 3 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | -7.4% | 3.4% | 9.1% | |
| Sector | -5.5% | 2.5% | 6.5% | |
| Rank | 28/42 | 15/41 | 3/36 | |
| Quartile | 3 | 2 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| GLOBALDATA | 3.01 |
| ALPHA GROUP INTERNATIONAL | 3.00 |
| COHORT | 2.89 |
| INTEGRAFIN HOLDINGS | 2.85 |
| TATTON ASSET MGMT | 2.82 |
| FINTEL | 2.81 |
| ALFA FINANCIAL SOFTWARE HOLDINGS | 2.80 |
| AJ BELL | 2.77 |
| CRANEWARE | 2.64 |
| ON THE BEACH GROUP | 2.40 |
| Total | 27.99 |
Fund Aims
The Fund aims to deliver capital growth over the long term (5 years or more).
Fund Manager
Alex Wedge joined the existing Economic Advantage team of Anthony Cross, Julian Fosh, Victoria Stevens and Matt Tonge in March 2020 from Singer Capital Markets, one of the largest dedicated small cap brokers in London. Alex has spent over seven years at Singer Capital Markets, latterly as a senior member of the equity sales team. His role has included developing and communicating investment ideas to buy side clients, as well as advising corporate clients on shaping their investment case and raising equity capital. At Liontrust, Alex is assisting the team with stock selection and the day-to-day management of the Economic Advantage funds, focusing particularly on small and micro caps.
Anthony Cross joined Liontrust in 1997 and launched the Liontrust UK Smaller Companies Fund in 1998. Before moving to Liontrust, Anthony joined Schroder Investment Management as a graduate trainee, later becoming an equity analyst before joining the Smaller Companies team in 1994. Anthony Cross graduated in 1990 from Exeter University with a degree in Politics.
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 and to develop the Liontrust Economic Advantage process. From 2004 to 2008, Julian was the co-manager of Saracen Growth Fund. Before this, Julian headed 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 a career that started in 1984, Julian has also worked at Britannia Investment Managers and Scottish Amicable. Julian graduated in 1984 from Merton College Oxford with an MA in Jurisprudence.
Victoria Stevens joined the Economic Advantage team at Liontrust in June 2015 as a partner and fund manager to help research and analyse investment opportunities primarily across the small cap universe. She previously worked for almost 5 years at the growth company specialist broking and advisory firm finnCap Ltd, latterly as deputy head of corporate broking. Prior to joining finnCap, Victoria was a senior reporter and diary editor at the financial newspaper City AM, having studied Modern Languages at Oxford University.
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 joined 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.
Fund Overview
| Bid (20/12/2024) | 1736.25p |
| Offer (20/12/2024) | 1770.93p |
| Historic yield | 1.21% |
| Fund size (30/11/2024) | £893.72m |
| Number of holdings | 59 |
| Entry Charge | 0.00% |
| Ongoing Charges | 1.32% |
| Launch date | 28/01/2013 |
Asset Allocation
| UK Equities | 93.73% | |
| Cash and Equivalents | 6.27% |
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Asset Allocation
| UK Equities | 93.73% | |
| Cash and Equivalents | 6.27% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 25.21% | - | - | - | |
| Industrial Goods & Services | - | 23.40% | - | - | |
| Industrial Support Services | - | - | 17.06% | - | |
| Professional Business Support Services | - | - | - | 14.75% | |
| Business Training & Employment Agencies | - | - | - | 2.31% | |
| Aerospace & Defence | - | - | 2.89% | - | |
| Defense | - | - | - | 2.89% | |
| Industrial Engineering | - | - | 2.09% | - | |
| Machinery: Industrial | - | - | - | 2.09% | |
| Electronic & Electrical Equipment | - | - | 1.37% | - | |
| Electronic Equipment: Gauges & Meters | - | - | - | 1.37% | |
| Construction & Materials | - | 1.81% | - | - | |
| Construction & Materials | - | - | 1.81% | - | |
| Building Materials: Other | - | - | - | 1.81% | |
| Financials | 22.45% | - | - | - | |
| Financial Services | - | 21.08% | - | - | |
| Investment Banking & Brokerage Services | - | - | 18.68% | - | |
| Asset Managers & Custodians | - | - | - | 12.92% | |
| Investment Services | - | - | - | 5.77% | |
| Finance & Credit Services | - | - | 2.40% | - | |
| Mortgage Finance | - | - | - | 2.40% | |
| Banks | - | 1.36% | - | - | |
| Banks | - | - | 1.36% | - | |
| Banks | - | - | - | 1.36% | |
| Technology | 19.94% | - | - | - | |
| Technology | - | 19.94% | - | - | |
| Software & Computer Services | - | - | 16.49% | - | |
| Software | - | - | - | 11.43% | |
| Consumer Digital Services | - | - | - | 3.74% | |
| Computer Services | - | - | - | 1.32% | |
| Technology Hardware & Equipment | - | - | 3.44% | - | |
| Electronic Components | - | - | - | 2.39% | |
| Computer Hardware | - | - | - | 1.06% | |
| Health Care | 9.62% | - | - | - | |
| Health Care | - | 9.62% | - | - | |
| Health Care Providers | - | - | 4.76% | - | |
| Health Care Services | - | - | - | 4.76% | |
| Pharmaceuticals & Biotechnology | - | - | 3.61% | - | |
| Biotechnology | - | - | - | 1.98% | |
| Pharmaceuticals | - | - | - | 1.63% | |
| Medical Equipment & Services | - | - | 1.25% | - | |
| Medical Equipment | - | - | - | 1.25% | |
| Consumer Discretionary | 9.05% | - | - | - | |
| Consumer Products & Services | - | 3.56% | - | - | |
| Leisure Goods | - | - | 3.09% | - | |
| Electronic Entertainment | - | - | - | 1.64% | |
| Consumer Electronics | - | - | - | 1.09% | |
| Recreational Products | - | - | - | 0.36% | |
| Personal Goods | - | - | 0.47% | - | |
| Clothing & Accessories | - | - | - | 0.47% | |
| Media | - | 3.08% | - | - | |
| Media | - | - | 3.08% | - | |
| Media Agencies | - | - | - | 3.08% | |
| Travel & Leisure | - | 2.40% | - | - | |
| Travel & Leisure | - | - | 2.40% | - | |
| Travel & Tourism | - | - | - | 2.40% | |
| Cash and Equivalents | 6.27% | - | - | - | |
| Consumer Staples | 5.61% | - | - | - | |
| Food, Beverage & Tobacco | - | 3.56% | - | - | |
| Food Producers | - | - | 1.98% | - | |
| Food Products | - | - | - | 1.98% | |
| Beverages | - | - | 1.58% | - | |
| Soft Drinks | - | - | - | 1.58% | |
| Personal Care, Drug & Grocery Stores | - | 2.05% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 2.05% | - | |
| Food Retailers & Wholesalers | - | - | - | 2.05% | |
| Real Estate | 1.63% | - | - | - | |
| Real Estate | - | 1.63% | - | - | |
| Real Estate Investment & Services | - | - | 1.63% | - | |
| Real Estate Services | - | - | - | 1.63% | |
| Basic Materials | 0.23% | - | - | - | |
| Basic Resources | - | 0.23% | - | - | |
| Industrial Materials | - | - | 0.23% | - | |
| Paper | - | - | - | 0.23% | |
| Non-Classified | 0.01% | - | - | - | |
Regional Allocation
| UK | 93.73% | |
| Cash and Equivalents | 6.27% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 93.73% | - | |
United Kingdom
|
- | 93.73% | |
| Cash and Equivalents | 6.27% | - | |
Breakdown By Market Cap (%)
| Medium |
|
15.77% |
| Small |
|
48.40% |
| Micro |
|
26.39% |
| Non-Classified |
|
3.17% |
| Cash |
|
6.27% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | GLOBALDATA | 3.01% | Industrial Support Services | United Kingdom |
| 2 | ALPHA GROUP INTERNATIONAL | 3.00% | Investment Banking & Brokerage Services | United Kingdom |
| 3 | COHORT | 2.89% | Aerospace & Defence | United Kingdom |
| 4 | INTEGRAFIN HOLDINGS | 2.85% | Investment Banking & Brokerage Services | United Kingdom |
| 5 | TATTON ASSET MGMT | 2.82% | Investment Banking & Brokerage Services | United Kingdom |
| 6 | FINTEL | 2.81% | Industrial Support Services | United Kingdom |
| 7 | ALFA FINANCIAL SOFTWARE HOLDINGS | 2.80% | Software & Computer Services | United Kingdom |
| 8 | AJ BELL | 2.77% | Investment Banking & Brokerage Services | United Kingdom |
| 9 | CRANEWARE | 2.64% | Health Care Providers | United Kingdom |
| 10 | ON THE BEACH GROUP | 2.40% | Travel & Leisure | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | 19.94% | - | - | - | - | - | - | - | 19.94% |
| Financials | 22.45% | - | - | - | - | - | - | - | 22.45% |
| Real Estate | 1.63% | - | - | - | - | - | - | - | 1.63% |
| Consumer Discretionary | 9.05% | - | - | - | - | - | - | - | 9.05% |
| Consumer Staples | 5.61% | - | - | - | - | - | - | - | 5.61% |
| Health Care | 9.62% | - | - | - | - | - | - | - | 9.62% |
| Industrials | 25.21% | - | - | - | - | - | - | - | 25.21% |
| Basic Materials | 0.23% | - | - | - | - | - | - | - | 0.23% |
| Cash and Equivalents | - | - | - | - | - | - | - | 6.27% | 6.27% |
| Non-Classified | 0.01% | - | - | - | - | - | - | - | 0.01% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 | B57TMD1 |
| Mex Code | Q5LION |
| Isin Code | GB00B57TMD12 |
| Citi Code | LIM2 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 1.32% |
Aims and Benchmark
| Aims | The Fund aims to deliver capital growth over the long term (5 years or more). |
| Benchmark | FTSE Small Cap ex ITs |
| Benchmark Category | Comparator |
| IA Sector | UK Smaller Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 May | 30 June |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
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 (International) Limited |
| 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 |
| info@liontrust.co.uk | |
| Homepage | www.liontrust.co.uk |
| Fax number | 020 7412 1779 |
Dealing
| Minimum Investment | £5000000 |
| Minimum Top Up | £100000 |
| 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 investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.