Liontrust Assessment of Value Report - Flipbook - Page 132
Liontrust MA Dynamic Passive Intermediate Fund
The Fund seeks to achieve capital growth and income with a
median level of volatility. The Fund invests in UK and international
equities, including emerging markets, UK property and fixed
income. The underlying funds will, where practicably possible, be
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
passive. The Fund typically has a balanced exposure to higher risk
assets and lower risk assets compared to other funds in the Liontrust
MA Dynamic Passive range that have a higher or lower risk profile.
Class A
Class D
Class R
Class S
Class Z
Direct Retail
Wholesale
Legacy
Retail
Wholesale*
Internal
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 20.6% over the last five years**.
Having most of its investments in equities proved to be beneficial for the Fund.
All the Fund’s equity holdings produced positive results, with the US performing
the best, followed by the UK, Japan, Europe ex-UK, emerging markets and
Developed Asia.
In terms of fixed income, corporate bonds were a positive contributor to
performance, as was high yield. Medium-term gilts weighed the most on
performance while global government bonds were also a detractor.
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.
132 - Liontrust Assessment of Value Report
