Liontrust Latin America C

A concentrated portfolio of South American stocks.

  • 111.14p
    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).

  • 1.07%
    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.

  • 2.50%

    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 20 January 2021

Fund summary

Sector Specialist
Structure OEIC
Launched May, 2013
Size £30m
Yield 2.50%
Charging basis Income
Dividends paid Acc units only


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 1.07%


Proportion (%)

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Investment process

The investment objective of Neptune Latin America Fund is to generate capital growth from investment predominantly in Latin American securities, or in the securities issued by companies transacting a significant proportion of their business in Latin America.

Manager research

Average monthly relative returns

  • 16/17 -0.26%
  • 17/18 0.39%
  • 18/19 -0.18%
  • 19/20 -0.06%
  • 20/21 -0.08%

Bestinvest MRI

  • 3 years -0.11%
  • 5 years -0.04%
  • Career 0.13%
  • 3 years 48.00%
  • 5 years 57.10%
  • Career 87.10%

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

Thomas Smith

Smith joined Neptune in July 2009 as an Investment Analyst, having graduated from Oxford University with a masters degree in Chemistry. He is a CFA charterholder.

Track record

Thomas Smith has 9.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.13%. During the worst period of relative performance (from April 2018 - March 2020) there was a decline of 11% relative to the index. The worst absolute loss has been 45%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 87%.

Periods of worst performance

Absolute -45.00% (February 2013 - January 2016)
Relative -11.00% (April 2018 - March 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.


Proportion (%)

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Top 10 holdings

Data accurate as at 29 April 2016

4.0846% Ambev Sa
3.987% Banco Bradesco Sa
3.1425% Itausa Investimentos Itau Sa
3.0919% Cia Saneamento Basico De Sao Paolo
3.0306% S.a.c.i Falabella
3.016% Grupo Financiero Banorte Sab De Cv
2.9896% Alsea Sab De Cv
2.9486% Credicorp
2.9339% Fomento Economico Mexcano Sab De Cv
2.7843% Promotora Y Operadora De Infrstrctr
Source: Trustnet

Sector breakdown

Financials 41.00%
Consumer Staples 20.00%
Consumer Discretionary 15.00%
Industrials 11.00%
Utilities 9.00%
Materials 2.00%
Information Technology 2.00%
Money Market 1.00%

Key Investor Information