Liontrust SF Managed 2

Ethical fund run by former NPI experts, investing in equities and fixed return securities.

  • 198.40p
    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).

  • 0.84%
    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.

  • 0.60%
    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 22 January 2021

An actively managed fund managed by one of the most experienced Socially Responsible teams in the city (have previously managed over £1 billion of SRI money). The team are actively engaged in identifying not only those companies with good environmental and social practices but also those which have sustainable business plans.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure OEIC
Launched February, 2001
Size £2,055m
Yield 0.60%
Charging basis Income
Dividends paid 31 Jan, 31 Jul

Charges

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 0.84%

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Investment process

The Socially Responsible Investment team believe that those companies which are most likely to grow consistently over the next few decades are those that are promoting or benefiting from sustainable economic development. Thus the team actively seek out companies which have or are taking steps to providing solutions to environmental and social problems. Companies that qualify on this basis, are then assessed as potential investments, which is guided by the house macroeconomic view, and the companies considerable research base. There are however, a number of areas which are strictly out of bounds. These include: - Manufacture of cigarettes and other tobacco products. - Ownership, management or construction of nuclear power stations. - Manufacture or marketing of arnaments, including weapons, weapon platforms and munitions. - Any company whose principal business involves gambling. - Any company deriving a significant proportion of their turnover from the manufacture and sale of alcohol.

Manager research

Average monthly relative returns

  • 16/17 0.72%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 -0.53%
  • 20/21 0.64%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.01%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 77.60%

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

Peter Michaelis

Peter Michaelis joined Alliance Trust Investments in August 2012 from Aviva Investors (formerly Morley Fund Management) where he was Head of Sustainable and Responsible Investment. He has been managing money in Sustainable and Responsible Investment for over 12 years after starting his career working for British Steel as a Senior Environmental Engineer. He specialised in environmental assessment until he joined the SRI team at Henderson Investors at the start of 2000. Michaelis holds a degree in Physics from Oxford University and a PhD in Environmental Economics from the Centre of Environmental Strategy, University of Surrey.

Track record

Peter Michaelis has 14.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.01%. During the worst period of relative performance (from July 2007 - March 2010) there was a decline of 22% relative to the index. The worst absolute loss has been 47%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 78%.

Periods of worst performance

Absolute -47.00% (May 2007 - February 2009)
Relative -22.00% (July 2007 - March 2010)

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

5.5234% Liontrust Gf Sustainable Future Global Growth B8 Acc Usd
2.1901% Iqvia Hldgs Inc
2.1821% Paypal Hldgs Inc
1.906% Alphabet Inc
1.8931% Visa Inc
1.7106% Liontrust Gf Sustainable Future European Corporate Bond A8 Acc
1.6952% Thermo Fisher Scientific Inc
1.5623% Perkinelmer Inc
1.496% Autodesk Inc
1.4283% Cadence Design Systems Inc
Source: Trustnet

Sector breakdown

Financials 21.00%
Information Technology 21.00%
Health Care 14.00%
Industrials 8.00%
Mutual Funds 7.00%
Communications 6.00%
Consumer Discretionary 5.00%
Utilities 5.00%
Money Market 4.00%
Materials 4.00%

Portfolio

Number of holdings is around 70 and the top ten can account for up to third of the portfolio.

Key Investor Information

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