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Liontrust UK Smaller Companies I

Bestinvest LogoInvests in UK small cap companies, including AiM, with a bias to technology companies.

PRICE (INC)

1925.94p

PRICE (ACC)

1958.14p

INITIAL CHARGE

0%

ANNUAL MANAGEMENT CHARGE

1.25%

ONGOING CHARGE

1.33%

YIELD

0.1%

1 YEAR
-16.84%

Prices as at 18 Aug 2022.

We don’t currently provide commentary on this fund.

Past performance is not an indication of future performance.

Capital at risk.

The fund’s objective is to provide long term capital growth by investing in UK smaller companies, companies progressing to the FTSE 250 are sold. Experienced managers Anthony Cross and Julian Fosh look particularly for companies with intellectual property that will enable them to deliver sustained above average profitability; as a result the fund often has a bias to technology shares. Share ownership by directors is also required of portfolio companies. Smaller companies’ shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.

Fund summary

SectorUK Smaller Companies
StructureUNIT TRUST
LaunchedJanuary 2013
Size£1,237m
Yield0.1%
Charging BasisIncome
Dividends paid30 Jun

Charges

Standard Initial Charge0%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread2.89%
Annual Management Charge1.25%
Ongoing Charges Figure1.33%

Investment Process

The fund invests in companies from the FTSE Small Cap and FTSE Fledgling indices and the AiM market – companies progressing to the FTSE 250 are typically sold. The managers target companies with what they call “Economic Advantage” – characteristics their competitors will struggle to replicate. These typically fall into three categories: (1)Intellectual property; (2)Strong distribution channels; (3)Significant recurring business. The managers believe that company profits revert to the mean over time, and that only companies with Economic Advantage can defy this and sustain above average profits over the long term. Though the managers look for businesses capable of growing over the long term, they recognise that economic cycles can interrupt their growth. Such companies can be overlooked by the market, so they also look for companies with underappreciated potential earnings growth. They believe that they will surprise the market with strong growth, delivering an uplift in the share price. The managers also require directors’ share ownership of at least 3%, believing this helps to align their interests with outside shareholders.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning