Liontrust Assessment of Value Report - Flipbook - Page 112
Liontrust MA Explorer 70 Fund
The Fund aims to generate income with the potential for capital
growth over the long term (5 years or more). The Fund typically
has greater exposure to higher risk assets than other funds in the
Liontrust MA Explorer Funds range that have a 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 70 Fund in the first half of 2023,
having formerly been known as the MA Active Progressive 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 in the first half of 2023 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 return of 25.8% over the last five years and
12.2% over the last year versus the IA Mixed Investment 40-85% Shares sector
average return of 11.8% over 12 months**.
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.
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.
112 - Liontrust Assessment of Value Report
