Liontrust Assessment of Value Report - Flipbook - Page 126
Liontrust MA Blended Reserve Fund
The Fund seeks to achieve capital growth and income with a
low 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 be a blend of
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
active and passive. The Fund typically has a lower exposure to
higher risk assets and a greater exposure to lower risk assets than
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 0.5% over the last five years**.
The Fund has seen mixed returns across asset classes. The strong performance
of North American equities contributed the most to performance over five years,
while exposure to UK, Japanese, European, Developed Asia and emerging
markets equities all delivered positive returns.
Returns from bonds were less favourable. Medium-term gilts were the largest
detractor to performance, while global government debt and UK short-term gilts
were negative. Alternatives were also negative.
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.
126 - Liontrust Assessment of Value Report
