Liontrust European Growth I

Multi-cap continental European equity fund run using a quant process.

  • 291.39p
    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).

  • 0.90%
    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.

  • 1.10%
    Yield

    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 Liontrust European Growth Fund is to provide long-term capital growth through a concentrated portfolio of investments primarily in European companies excluding the UK. The Fund invests in a concentrated portfolio of companies from developed continental Europe, aiming for long-term capital growth in excess of the developed Europe stock market.

Fund summary

Sector Europe Excluding UK
Structure UNIT TRUST
Launched November, 2010
Size £117m
Yield 1.10%
Charging basis Income
Dividends paid 30 Jun

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.30%
Annual management charge 0.75%
Ongoing charges figure 0.90%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.72%
  • 17/18 0.10%
  • 18/19 -0.82%
  • 19/20 -1.92%
  • 20/21 1.10%

Bestinvest MRI

  • 3 years -0.55%
  • 5 years -0.45%
  • Career -0.47%
  • 3 years 18.90%
  • 5 years 13.60%
  • Career 5.50%

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

James Inglis-Jones / Samantha Gleave

Inglis-Jones graduated in 1990 with a first class degree in Modern History from York University and in 1994 gained a DPhil in History from Oxford University. He began his career at Unilever before joining JPMF in 1997 as an investment analyst within the UK research department. In 1999 he began managing UK equity portfolios and he became a senior portfolio manager in the European equity group before moving to Polar Capital in 2003, where he managed a European market neutral fund. He joined Liontrust in March 2006. Gleave graduated from Aberdeen University in 1995 with an MA Honours degree in Economics & Management. She began her career at Sutherlands as a Consumer Analyst before moving on to Fleming Investment Management as senior Investment Analyst covering Pan Europe where she worked with Gary West and James Inglis-Jones. Samantha moved to Credit Suisse First Boston (Europe) in 2000 and was in their equity research sector team. In 2005 she moved to Bank of America Merrill Lynch and became a Senior Equity Analyst and Director. Samantha joined Liontrust in 2012 as Fund Manager to work with Gary and James in managing the European equity investment process - the Cashflow Solution.

Track record

James Inglis-Jones / Samantha Gleave has 7.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.47%. During the worst period of relative performance (from September 2013 - October 2020) there was a decline of 47% relative to the index. The worst absolute loss has been 29%.

Periods of worst performance

Absolute -29.00% (December 2019 - March 2020)
Relative -47.00% (September 2013 - 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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

5.2847% Atlas Copco Ab
5.1954% Asml Holding Nv
4.8474% Pandora As
4.4686% Coloplast B
4.4173% Novo Nordisk A/S
4.1681% Elisa Oyj
4.0222% Roche Hldg Ag
3.9776% Royal Unibrew A/S
3.9131% Simcorp
3.8296% Recordati
Source: Trustnet

Sector breakdown

Industrials 17.00%
Health Care 17.00%
Consumer Discretionary 14.00%
Financials 12.00%
Information Technology 11.00%
Energy 11.00%
Communications 7.00%
Materials 6.00%
Consumer Staples 4.00%
Real Estate 1.00%

Portfolio

30-50 stocks with a mid/small cap bias.

Key Investor Information

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