Liontrust Assessment of Value Report - Flipbook - Page 110
Liontrust MA Explorer Income 60 Fund
The Fund aims to generate capital growth and income over the
long term (5 years or more). The Fund typically has a balanced
exposure to higher risk assets and lower risk assets compared to
other funds in the Liontrust MA Explorer Funds range that have a
higher or lower risk profile.
Overall value
assessment
We have evaluated the Fund
against all seven criteria in
our assessment of the value
it provides to investors. We
have concluded that the Fund
has performed in line with
expectations, and the Fund’s
charges are justified given the
overall value that has been
delivered to investors.
Go back to the Summary
of the Assessment of
Value table
Class A
Class R
Class S
Direct Retail
Legacy Retail
Wholesale*
Performance
Quality of service
AFM costs – general
Comparable market rates
Economies of scale
Comparable services
Classes of units
*This is the representative share class for Performance and Comparable market rates.
Performance
We have assessed the investment performance of the Fund against its stated
investment objective that is set out in its prospectus. We considered whether
the Fund has performed how we and investors would expect it to given the
market conditions it has been operating under and its investment philosophy,
strategy and process.
The Fund was renamed the MA Explorer Income 60 Fund in the first half of
2023, having formerly been known as the MA Active Intermediate Income
Fund. The investment objective of the funds in the Active range changed from
a focus on staying within certain risk (volatility) bands to prioritising investment
returns. A new Strategic Asset Allocation was also adopted for the Explorer
range to reflect the change in objective, investment policy and the addition
of the IA Mixed Investments sectors as comparator benchmarks. The funds’
primary objective is now focused on generating capital growth and income
over the long term with the level of risk being a secondary consideration.
The Fund has delivered a positive net return of 19.3% over the last five years
and 11.5% over the last year versus the IA Mixed Investment 20-60% Shares
sector average, which returned 9.4% over 12 months. The Fund has generated
an income yield of 1.6%**.
Prior to the above changes, the Fund’s objective had been to target a specific
level of long-term (15 years) volatility while trying to maximise the total return,
which may be in the form of either income or capital growth. Prior to the
changes, the Fund stayed within its targeted risk band and, subsequent to the
change outperformed the sector average and delivered on its income objective.
This document is intended to be for
information purposes only. It is not
marketing material.
**Source: Financial Express, as at 30.06.24, total
return.
110 - Liontrust Assessment of Value Report
