Liontrust Assessment of Value Report - Flipbook - Page 140
Liontrust MA Dynamic Passive Reserve Fund
The Fund seeks to achieve capital growth and income with a low
level of volatility. The Fund invests a significant proportion of the
portfolio in fixed income. The Fund also invests in UK and equities
globally, including a small exposure to emerging markets, and UK
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
property. The underlying funds will, where practicably possible, be
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 Dynamic Passive range that have a higher 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 5.0% over the last five years**.
The Fund’s equity holdings delivered the strongest returns, with the US and UK
contributing the most, followed by Europe ex-UK, Japan, emerging markets
and Developed Asia.
On the fixed income side, high yield generated positive returns but mediumterm gilts weighed on performance. Alternatives and cash were small
contributors to performance.
We can confirm that the Fund 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.
140 - Liontrust Assessment of Value Report
