Liontrust Asia Income I

Targets enhanced level of income and capital growth throughout the market cycle.

  • 154.46p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.16%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 3.40%

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 07 May 2021

The investment objective of the Fund is to provide a high level of income with long term capital appreciation. The manager believes that single investment style is unlikely to deliver consistent outperformance when investing in Asian equities, and therefore adapts a pragmatic approach to running the fund. The process involves identifying key market drivers and subsequent beneficiaries at a sector level with a further fundamental analysis at a stock level.

Fund summary

Sector Asia Pacific Excluding Japan
Structure UNIT TRUST
Launched March, 2012
Size £98m
Yield 3.40%
Charging basis Capital
Dividends paid 28 Feb, 28 May, 28 Aug, 28 Nov


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.54%
Annual management charge 0.75%
Ongoing charges figure 1.16%


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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.30%
  • 17/18 -0.21%
  • 18/19 -0.17%
  • 19/20 -0.24%
  • 20/21 0.15%

Bestinvest MRI

  • 3 years -0.09%
  • 5 years -0.15%
  • Career 0.15%
  • 3 years 52.00%
  • 5 years 38.60%
  • Career 98.40%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Mark Williams

Williams graduated from Cambridge University with a Law degree in 1993. He began his investment career with James Capel before moving to Royal & SunAlliance Investments in 1997. In 2007 he moved to Occam Asset Management, a new investment boutique. Williams moved to Liontrust in October 2011 as part of the Occam acquisition.

Track record

Mark Williams has 16.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.15%. During the worst period of relative performance (from July 2016 - October 2020) there was a decline of 18% relative to the index. The worst absolute loss has been 38%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -38.00% (August 2000 - September 2001)
Relative -18.00% (July 2016 - October 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.


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Top 10 holdings

Data accurate as at 31 July 2020

3.9742% Taiwan Semiconductor Manufacturing
3.9208% Lotes Co Ltd
3.9059% Tianneng Power International Ltd
3.5666% Lg Chem
3.4673% Xinyi Glass Hldgs
3.2866% Samsung Electronics Co
3.1958% Wistron Corp
3.0433% Sitc International Hldgs Co
2.9482% Taiwan Cement Corp
2.9111% Ase Indl Hldg Co Ltd
Source: Trustnet

Sector breakdown

Information Technology 24.00%
Consumer Discretionary 15.00%
Industrials 15.00%
Materials 13.00%
Communications 9.00%
Financials 8.00%
Real Estate 7.00%
Energy 3.00%
Utilities 2.00%
Consumer Staples 2.00%

Key Investor Information