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Matt Tonge

Fund Manager, Economic Advantage team

About Matt

Matthew Tonge joined the Economic Advantage team in 2015 to help research and analyse companies across the small cap universe having worked closely with Anthony Cross for many years. Matt originally moved to the Liontrust trading desk in 2003 from Barclays Capital Asset Management. Responsible for execution across all the firm’s assets, in 2014 he was voted Mid-Tier trader of the year by The Trade magazine for his work in mid and small cap stocks, the inaugural year of the award. Matt graduated from the University of Birmingham in 2000, with First Class Batchelor degrees in Manufacturing Engineering (BENG) & Commerce (BCOM), winning the Gilbert Walker Prize in Engineering and Economics as top student in his year. 

Meet the tea

Latest insights

Victoria Steven Victoria Stevens
Microlise - Nadeem Raza In the latest episode of the Stock Exchanges podcast, Nadeem Raza, CEO of Microlise tells Victoria about his 35-year journey with the company from his first role as software engineer in the late-80s all the way through to taking on the position of CEO after leading a management buyout in 2008 and listing the company on the London stock market in 2021.
icon 13 February 2025
Stock Exchanges podcast
Alex Game, Liontrust Economic Advantage team Alex Game
The UK market: A significant re-rating opportunity UK valuations are at historic lows and look very compelling
icon 11 February 2025
Long exposure shot of crowd of business people walking in bright office lobby fast moving with blur. Abstract blurred office interior space background.
Victoria Steven Victoria Stevens
Team17 - Debbie Bestwick MBE In the third episode of the Stock Exchange series Debbie Bestwick MBE, Non-Executive Director of indie games developer Team17, explains the amazing success of the business, including launching the famous Worms game, creating a company with sustainable growth and what it takes to make great games.
icon 17 December 2024
Stock Exchanges podcast
Victoria Steven Victoria Stevens
Focusrite - Phil Dudderidge OBE Having started with just a van and a band and then working as Led Zeppelin’s touring soundman in 1970, Phil Dudderidge OBE has successfully built two companies – Soundcraft Electronics and Focusrite. Using its equipment to record this second episode of the Stock Exchange series, Phil, who is now Non-executive Chairman, tells Victoria Stevens how Focusrite’s growth has been achieved and the challenges of being an entrepreneur.
icon 3 December 2024
Stock Exchanges podcast
Lionesses Anthony Cross, Victoria Stevens & Natalie Bell
The UK market: IP-rich and undervalued
icon 15 November 2024
r&d
Victoria Steven Victoria Stevens
Domino's - Andrew Rennie For the first conversation in the Stock Exchanges series, Victoria tucks into Domino’s, which is the largest pizza delivery operator in the world. She discovers the secrets of its success from Andrew Rennie, the Chief Executive of Domino’s Pizza Group, the London listed company that holds the master franchise agreement for the UK and Ireland and has over 1,300 mostly franchised stores under its banner.
icon 14 November 2024
Stock Exchanges podcast

Economic Advantage funds

Economic Advantage funds

UK Micro Cap
Economic Advantage team

UK Micro Cap Fund

The Fund applies the Economic Advantage process to invest the majority of the portfolio in the AIM index. Companies in the Fund must have a minimum 3% equity ownership by senior management.

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UK Smaller Companies
Economic Advantage team

UK Smaller Companies Fund

The Fund, which has been managed by the Economic Advantage team since 1998, invests in UK smaller companies which must have a minimum 3% equity ownership by senior management.

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Special Situations
Economic Advantage team

Special Situations Fund

This is a multi-cap Fund that uses the Economic Advantage process to invest across the FTSE 100, FTSE 250 and the AIM indices to deliver capital growth over the long term (5 years or more).

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UK Growth
Economic Advantage team

UK Growth Fund

The Fund aims to deliver capital growth over the long term (5 years or more) by applying the Economic Advantage process, with the majority of the portfolio invested in FTSE 100 stocks.

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GF Special Situations
Economic Advantage team

GF Special Situations Fund

This is a Ireland-domiciled and multi-cap Fund that uses the Economic Advantage process to invest across the FTSE 100, FTSE 250 and the AIM indices to deliver capital growth over the long term (5 years or more).

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GF UK Growth
Economic Advantage team

GF UK Growth Fund

The Ireland-domiciled Fund aims to deliver capital growth over the long term (5 years or more) by applying the Economic Advantage process, with the majority of the portfolio invested in FTSE 100 stocks.

View fund