Liontrust Assessment of Value Report - Flipbook - Page 122
Liontrust MA Blended Moderate Fund
The Fund seeks to achieve capital growth and income with a
below median level of volatility. The underlying funds in the
portfolio invest globally (including in emerging markets) across
asset classes and financial instruments. The underlying funds will
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.
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of the Assessment of
Value table
be a blend of active and passive. The Fund typically has a lower
exposure to higher risk assets and a greater exposure to lower risk
assets compared to other funds in the Liontrust MA Blended Funds
range that have a higher risk profile.
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’s objective is 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. In March 2023 the Liontrust Multi-Asset team
adopted new bespoke Strategic Asset Allocations and a new provider for
oversight of the Liontrust risk profiles.
The Fund has delivered a return of 9.4% over the last five years**.
The strong performance of North American equities contributed the most to
overall returns over five years, while exposure to UK, Japan, Developed Asia,
European and emerging markets equities also delivered positive returns.
Returns from bonds were mixed and less favourable: corporate bonds, high
yield and convertibles were positive over the period but returns from UK
medium-term gilts and global government bonds detracted from performance.
UK alternatives were also a negative performer.
We can confirm that the Fund has stayed within its targeted risk band and is
on track to meet the expected level of volatility over the long term.
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.
122 - Liontrust Assessment of Value Report
