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Sustainable Investment team

Our investment process

The investment process seeks to generate strong returns from investing in companies aiming to deliver profits through positive social and environmental impacts. The fund managers look at the world through the prism of three mega trends – Better resource efficiency (cleaner), Improved health (healthier) and Greater safety and resilience (safer) – and then 22 themes within these.

If a company has significant exposure to one of the themes, the fund managers verify how sustainable the rest of its activities are. For each company, the fund managers determine the ESG factors that are important indicators of future success and assess how well these are managed, via the proprietary Liontrust Sustainability Matrix.

Companies in which the fund managers invest will have robust business fundamentals with a proven ability to deliver high returns of equity (RoE) through sustaining margins and asset turnover. Typically, these companies have a maintainable competitive advantage through scale, technology or business model.

Funds managed by the team

The Liontrust Sustainable Investment team manages a broad range of funds across equities, bonds, and managed funds.

Funds managed by the team

Liontrust GF Sustainable Future US Growth Fund
Sustainable Future

GF Sustainable Future US Growth Fund

The Ireland-domiciled and Article 9 Fund under SFDR applies the Sustainable Future process to find the opportunities for sustainable investing in the US.

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Monthly Income Bond
Sustainable Future

Sustainable Future Monthly Income Bond Fund

The Fund seeks to produce monthly income payments together with capital growth by investing at least 80% of the portfolio in corporate bonds.

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SF Cautious Managed
Sustainable Future

Sustainable Future Cautious Managed Fund

The Fund aims to deliver capital growth, as well as some level of income, over the long term (5 years or more) through investing between 40% to 60% of the portfolio in global equities and the rest in bonds, infrastructure and cash.

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SF Corporate Bond
Sustainable Future

Sustainable Future Corporate Bond Fund

The Fund invests at least 80% of the portfolio in investment grade corporate bonds denominated in sterling or hedged back to sterling.

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SF Defensive Managed
Sustainable Future

Sustainable Future Defensive Managed Fund

The Fund aims to deliver capital growth, as well as some level of income, over the long term (5 years or more) through investing between 20% to 50% of the portfolio in global equities and the rest in bonds, infrastructure and cash.

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SF European Growth
Sustainable Future

Sustainable Future European Growth Fund

The Fund applies the Sustainable Future process to find the opportunities for sustainable investing in continental Europe and up to 5% in UK-listed stocks.

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SF Global Growth
Sustainable Future

Sustainable Future Global Growth Fund

The Fund invests between 90% to 100% in global equities, applying the Sustainable Future process to find the opportunities for sustainable investing in developed markets.

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SF Managed
Sustainable Future

Sustainable Future Managed Fund

The Fund aims to deliver capital growth, as well as some level of income, over the long term (5 years or more) through investing between 60% to 85% of the portfolio in global equities and the rest in bonds and cash.

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SF Managed Growth
Sustainable Future

Sustainable Future Managed Growth Fund

The Fund aims to deliver capital growth, as well as some level of income, over the long term (5 years or more) through investing between 60% to 100% of the portfolio in global equities and the rest in bonds and cash.

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SF UK Growth
Sustainable Future

Sustainable Future UK Growth Fund

The Fund applies the Sustainable Future process to find the opportunities for sustainable investing in UK-listed stocks.

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UK Ethical
Sustainable Future

UK Ethical Fund

The Fund uses a thematic approach to identify the key structural growth trends that will shape the global economy of the future and then seek to invest in well run UK-listed companies whose products and operations capitalise on these transformative changes.

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GF SF European Corporate Bond
Sustainable Future

GF Sustainable Future European Corporate Bond Fund

The Ireland-domiciled and Article 9 Fund under SFDR invests in euro denominated investment grade corporate bonds or non-euro denominated corporate bonds hedged back into euros.

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GF SF Global Growth
Sustainable Future

GF Sustainable Future Global Growth Fund

The Ireland-domiciled and Article 9 Fund under SFDR invests between 90% to 100% in global equities, applying the Sustainable Future process to find the opportunities for sustainable investing in developed markets.

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GF SF Multi-Asset Global
Sustainable Future

GF Sustainable Future Multi-Asset Global Fund

The Ireland-domiciled and Article 9 Fund under SFDR aims to deliver capital growth, as well as some level of income, over the long term (5 years or more) through investing in global equities, bonds and cash.

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GF SF Pan-European Growth
Sustainable Future

GF Sustainable Future Pan-European Growth Fund

The Ireland-domiciled and Article 9 Fund under SFDR aims to generate capital growth by finding the opportunities for sustainable investing across Europe, including in UK-listed stocks.

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Latest insights

More insights
Linnea-Bengtsson Linnea Bengtsson
The new investment landscape for the water industry The investment opportunities from firms providing solutions to poor quality water and infrastructure
icon 13 June 2024
Water industry
Mike Appleby Mike Appleby
Investing in the energy transition
Watch Now play video
icon 5 June 2024
Mike Appleby in a field
Deepesh Marwaha Deepesh Marwaha
Investing in renewable energy infrastructure On World Environment Day, Deepesh Marwaha discusses the vital need for renewable energy infrastructure to deliver clean energy
icon 4 June 2024
Sustainable infrastructure
Peter Michaelis Peter Michaelis
Maintaining the pressure on companies to decarbonise
icon 17 April 2024
Decarbonised world
Mike Appleby Mike Appleby
Evolution of our sustainable investment themes As the world changes, so too our sustainable investment themes are evolving as we discuss here
icon 16 April 2024
Sustainable finance
Deepesh Marwaha Deepesh Marwaha
In deep water – engaging with UK water companies Investing in UK water utilities has hit rough waters in recent times with chronic underinvestment. But there is a route to better outcomes
icon 10 April 2024
Water company

Meet the team

The team has been managing the Sustainable Future (SF) funds for more than 22 years.  A key differentiator is the fact all the sustainable elements are fully integrated within a single team. The team, which has over 200 years of combined experience, is headed by Peter Michaelis, who was previously Head of SRI at Aviva Investors and has been managing the SF funds since launch. The fund managers that joined from Alliance Trust Investments (ATI) as part of its acquisition were previously running the Sustainable Future fund range at Aviva Investors. The other lead equity managers are Simon Clements (who was formerly Head of Global Equities at Aviva Investors) along with Martyn Jones and Chris Foster who joined the management training programme at ATI as graduates. Fixed Income investments are managed by Kenny Watson (formerly at Ignis Asset Management), Aitken Ross and Jack Willis who also started their careers in the graduate scheme at ATI, and Connor Godsell. Harriet Parker leads on engagement activities across the team.

 

Peter Michaelis
Peter Michaelis
Peter Michaelis joined Liontrust in April 2017 as part of the acquisition of ATI, where he was Head of Investment. Peter has been managing Sustainable Investment funds since 2001 when he was promoted to lead Portfolio Manager at Aviva Investors. Read more
Simon Clements
Simon Clements
Simon Clements is a fund manager who joined Liontrust in April 2017 as part of the acquisition of Alliance Trust Investments (ATI), where he had managed funds for five years. Prior to this, Simon spent 12 years at Aviva Investors (previously Morley Fund Management) where, most recently, he was Head of Global Equities. In his early career, Simon worked as a Portfolio Accountant and Risk and Performance Analyst before joining Aviva Investors in 2000 to help develop its global equity and SRI propositions. Simon holds a Bachelor of Economics from the University of Newcastle, Australia, and a graduate diploma in Applied Finance & Investment from Securities Institute of Australia. Simon is a CFA Charterholder.
 
 Read more
Martyn Jones
Martyn Jones
Martyn Jones is a fund manager who joined Liontrust in April 2017 as part of the acquisition of Alliance Trust Investments (ATI) and became a fund manager in November 2019. Prior to Liontrust, Martyn spent five years at ATI, initially as a graduate trainee and then as an analyst with the Sustainable Investment team. Martyn has an MA (Hons) in Management from the University of Glasgow and a Masters in Sustainability Leadership at the University of Cambridge. Martyn has completed the IMC and is a CFA Charterholder. Read more
Chris Foster
Chris Foster
Chris Foster is a fund manager who joined Liontrust in April 2017 as part of the acquisition of Alliance Trust Investments (ATI). Previously, Chris joined ATI through the management training programme after graduating with a First Class Honours degree in Economics and Mathematics from the University of Edinburgh. Chris is a CFA Charterholder. Read more
Mike Appleby
Mike Appleby
Mike Appleby joined Liontrust in April 2017 as part of the acquisition of ATI. Having started his investment career in 1992, Mike joined Aviva Investors in 2004 where he was a Fund Manager and then appointed Head of SRI Thematic Research. Read more
Harriet Parker
Harriet Parker
Harriet Parker joined Liontrust in April 2017 as part of the acquisition of ATI. Harriet started her investment career in 2004 at Aviva Investors and was also a Research Assistant at the Department of Economics and Centre for Market and Public Organisation. Read more
Kenny Watson
Kenny Watson
Kenny Watson joined Liontrust as part of the acquisition of ATI in April 2017. Prior to ATI, Kenny spent 15 years at Ignis Asset Management where he was responsible for sub-investment grade bond portfolios including the High Income Bond Fund. Read more
Aitken Ross
Aitken Ross
Aitken Ross joined Liontrust as part of the acquisition of ATI in April 2017. Aitken started his career on the Alliance Trust Management Training programme in September 2010 and completed an MA in International Financial Analysis (Distinction) at Newcastle University. Read more
Jack Willis
Jack Willis
Jack Willis joined Liontrust as part of the acquisition of ATI in April 2017. Jack started his career on the Alliance Trust Management Training programme in September 2014 and completed an MSc in Finance and Investment (Distinction) at the University of Leeds. Read more
Connor Godsell
Connor Godsell
Connor Godsell joined Liontrust in November 2023. He is an Investment Manager on the Sustainable Investment team. Connor has seven years industry experience and has an MA (Hons) in Economics & Finance. Read more
Mingming Huang
Mingming Huang
Mingming Huang joined Liontrust in June 2019 on the Sustainable Investment Equities team as a Portfolio Manager Assistant, providing analytical support for the team’s thematic analysis and engagement. This followed a 9-month internship with the team. Read more
Deepesh Marwaha
Deepesh Marwaha
Deepesh joined Liontrust in September 2021 on the Sustainable Investment Fixed Income team. Deepesh graduated from the University of Strathclyde in Economics and Human Resource Management. He holds the IMC certificate and CFA Level I. Read more
Nancy Kondelidou
Nancy Kondelidou
Nancy joined Liontrust in September 2021 on the Sustainable Investment Fixed Income team. Prior to this, she worked for a year in a fixed income data related role. Nancy holds the IMC certificate and CFA Level II. Read more
Ed Phelps
Ed Phelps
Ed joined Liontrust in September 2021 on the Sustainable Investment Equities team. Ed previously completed an internship in the Responsible Investment department at Redington. He holds the IMC certificate and CFA Level III. Read more
Sarah Nottle
Sarah Nottle
Sarah joined Liontrust in September 2021 on the Sustainable Investment Equities team. Prior to this, she worked within the asset management industry in an operations role. Sarah holds the IMC certificate and CFA Level III. Read more
Linnea Bengtsson
Linnea Bengtsson

Linnea Bengtsson is an Equity Analyst who joined Liontrust in 2023 as part of the Sustainable Investment team. Linnea previously worked at Ninety One Asset Management (formerly Investec), where she gained four years industry experience as a Sustainable Equity Investment Analyst. Prior to this, Linnea interned at Citi Bank and Deutsche Bank. Linnea holds a BA (Hons) degree in Chinese from the University of Durham and ECNU, Shanghai.

 Read more
Hannah Muir
Hannah Muir
Hannah Muir joined Liontrust in April 2017 as part of the company's acquisition of Alliance Trust Investments. Hannah joined the Sustainable Investment Fixed Income team as an Investment Analyst, producing sustainability analysis reports. Read more

"Over our first 20 years of managing the SF funds, our investments have been successful because they have provided something society needs.”

Peter Michaelis

Sustainable Investment: Annual Review 2023

This Report highlights the team’s investment performance and investee company engagement in 2023 and their 22 sustainable investment themes, including those that will be key in driving forward the changes needed for the world to achieve net zero.

Click below to read the Annual Review that covers the Sustainable Future process, fund performance, and work across impact measurement and engagement during 2023.

READ ANNUAL REVIEW
Meet the tea

Awards and ratings

Professional Adviser Awards 2023 Best Responsible Fund Professional Adviser Awards 2023 Best Responsible Fund
Professional Pensions Investment Awards Sustainable Corproate Bond Manager of the Year Professional Pensions Investment Awards 2023 Sustainable Corporate Bond Manager of the Year
Professional Paraplanner ESG Solution Provider 2023 Professional Paraplanner Awards 2023 Best ESG Investment Solution Provider
Professional Adviser Awards 2022 - Best ESG Solution for Advisers Professional Advisor Awards 2022: Best ESG Solution for Advisers Liontrust SF Managed Funds
Professional Paraplanner Awards 2022 - Best ESG Investment Solution Provider Professional Paraplanner Awards 2022 Best ESG Investment Solution Provider
Citywire fund manager rating Citywire Manager Rating: A Kenny Watson
Fund Manager of the Year Awards 2021 IW FM of the Year Awards 2021: Managed 40-85% Shares Liontrust SF Managed Fund
Citywire fund manager rating Citywire Manager Rating: A Jack Willis
Citywire fund manager rating Citywire Manager Rating: A Aitken Ross
Fund Manager of the Year Awards 2021 IW FM of the Year Awards 2021: Global Growth Liontrust SF Global Growth Fund
Fund Manager of the Year Awards 2021 IW FM of the Year Awards 2021: Managed - Flexible Investment Liontrust SF Managed Growth Fund
PA AWARDS 21 Best ESG Solution Professional Advisor Awards 2021: Best ESG Solution for Advisers Liontrust SF Managed Funds