Liontrust Assessment of Value Report - Flipbook - Page 145
Quality of service
Economies of scale
Our assessment has considered the range and quality of
services experienced by investors. We have concluded
that the quality of services provided to our investors by
Liontrust or the companies we work with is in line with
expectations. This has been assessed through a detailed
review of the services we provide, our engagement
with investors, communications and governance, and
has been confirmed through our investor survey. We
continue to focus on elements of our services that can
be enhanced.
Our assessment has considered whether we are able
to generate efficiencies to achieve economies of scale
and if benefits have been passed onto our investors. The
Fund benefits from a model which provides clarity of
Fund costs to investors and enables a potential reduction
in fees as the Fund increases in size. As part of our
normal governance processes, we have reviewed the
fixed Administration Fee for this Fund and reduced it by
0.02%. Our investors have been able to benefit from
the savings created and an improvement in service as a
result of re-investment in the business.
AFM costs – general
We have reviewed the costs that investors pay as part
of the operation and management of the Fund. Our
assessment has concluded that the costs of services
provided to the Fund remain appropriate. We will
continue to review the costs and charges of the Fund at
least annually.
Comparable market rates
We have assessed the charges of the Fund, and our
assessment has concluded that the fee reflects the active
and high-conviction approach, and the fees charged
for this level of service are reasonable given the Fund’s
investment objective and strategy. Given the specialist
approach of the Fund, there is a limited number of
similar funds/share classes to compare against.
Comparable services
There are no Comparable services provided for this
Fund.
Classes of shares or units
Our assessment has considered whether investors are
invested in the most appropriate share class that is
available to them. Based on the information available
to us, our review concluded that investors are invested in
the most appropriate share classes for the Fund. We will
continue to monitor the charges of our classes to ensure
they meet the needs of our investors.
We have assessed the OCF of all the share classes of
this Fund, and the outcome of each class can be found
in the table on the previous page. We will continue to
monitor the charges of the Fund to ensure these remain
appropriate on an ongoing basis.
Liontrust Assessment of Value Report - 145
