Liontrust European Income I

Targets a high income with some capital growth from Europe (ex UK) equities.

  • 132.03p
    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.

  • 262.18p
    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).

  • 0.93%
    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.

  • 3.30%
    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 15 January 2021, fund data last updated 14 April 2014

The fund aims to provide a high level of income along with some capital growth through holding a portfolio of mainly European companies.

Fund summary

Sector Europe Excluding UK
Structure UNIT TRUST
Launched July, 2016
Size £74m
Yield 3.30%
Charging basis Capital
Dividends paid 15 Feb, 15 May 15 Aug, 15 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.15%
Annual management charge 0.75%
Ongoing charges figure 0.93%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.80%
  • 17/18 -0.29%
  • 18/19 -0.16%
  • 19/20 -0.55%
  • 20/21 -0.49%

Bestinvest MRI

  • 3 years -0.40%
  • 5 years -0.46%
  • Career -0.11%
  • 3 years 3.20%
  • 5 years 0.30%
  • Career 40.90%

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

Oliver Russ

Russ graduated from Oxford University in 1996 with a first class honours degree in Classics. He holds the CFA charter and successfully completed the IIMR examinations and is a Fellow of the Securities Institute. He joined Orbitex (Neptune's forerunner) in 1998 where he was responsible for running the Orbitex UK Equity Fund. In 2002 he moved to Invicta Investment Management, a privately owned hedge fund, but re-joined Neptune Investment Management in April 2004 as a fund manager and financial analyst. In May 2005 Russ co-founded Argonaut Capital Management with Barry Norris. In 2016 he and his funds transferred to Liontrust.

Track record

Oliver Russ has 15 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from February 2009 - December 2020) there was a decline of 27% relative to the index. The worst absolute loss has been 35%.

Periods of worst performance

Absolute -35.00% (December 2007 - February 2009)
Relative -27.00% (February 2009 - December 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

3.754% Endesa Sa
3.4943% Sanofi
3.0911% Roche Hldg Ag
3.0378% Thule Group Ab
2.9214% Swedbank Ab
2.8628% Terna Spa
2.8624% Novartis Ag
2.8459% Be Semiconductor Industries Nv
2.8254% Vat Group Ag
2.7396% Deutsche Post Ag
Source: Trustnet

Sector breakdown

Financials 26.00%
Industrials 15.00%
Consumer Discretionary 11.00%
Communications 10.00%
Utilities 10.00%
Health Care 9.00%
Consumer Staples 7.00%
Materials 5.00%
Information Technology 3.00%
Energy 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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