Liontrust Assessment of Value Report - Flipbook - Page 144
Liontrust MA UK Equity Fund
The Fund seeks to generate capital growth. The underlying funds
primarily (at least 70%) invest in shares listed on the UK stock
market
Overall value
assessment
We have evaluated the Fund
against all seven criteria in
our assessment of the value
it provides to investors.
While the Fund has received
Amber for Performance, we
understand why and have
explained the reasons for this
in the Performance section
on this page. We will keep
the Fund under close review.
The Fund has performed in
line with expectations for the
remaining criteria, and the
Fund charges are justified
given the overall value
that has been delivered to
investors.
Go back to the Summary
of the Assessment of
Value table
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, bid-to-bid, net of fees, income reinvested.
144 - Liontrust Assessment of Value Report
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 of achieving capital growth 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 has delivered a return of 22.6% over the last five years. Although not
an official benchmark, the Fund sits in the IA UK All Companies sector and this
returned an average of 24.3% over the same period. All fund classes produced
a positive return**.
Good returns were achieved from a range of underlying funds. The most
significant positive contributions came from actively managed funds using both
growth and income approaches. Exposure to small caps weighed the most on
performance.
The UK stock market outperformed other developed markets in 2022, largely
due to exposure to the energy sector, which benefited from price rises in oil and
gas. However, this also meant the stock market underperformed other markets in
the first half of 2023 when energy prices fell.
