Liontrust Assessment of Value Report - Flipbook - Page 114
Liontrust MA Explorer 85 Fund
The Fund aims to generate capital growth and income 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 85 in the first half of 2023, having
formerly been known as the MA Active Growth 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 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 36.3% over the last five years
and 13.3% over the last year versus the IA Mixed Investment 40-85% Shares
sector average, which returned 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.
114 - Liontrust Assessment of Value Report
