The Fund
The Liontrust Global Smaller Companies Fund is managed by Alex Wedge and Bobby Powar. The Fund aims to generate capital growth over the long term (5 years or more) using the Economic Advantage investment process to invest in global equities. The process seeks to identify companies with a durable competitive advantage. All smaller companies in the Fund must have a minimum 3% equity ownership by senior management. The Fund invests at least 80% of the portfolio in companies which, at the time of purchase, have a market capitalisation of under £10 billion.
N.B. Alex Wedge and Bobby Powar took over the management of this fund from David Goodman on 14 January 2025.
You are able to redeem your investment from the Fund at any time and there is no exit fee for doing so.
Awards and Rating
Morningstar Rating: 4
Meet the managers
Alex Wedge joined the Economic Advantage team in March 2020 and became a co-manager at the start of 2021. Alex moved from Singer Capital Markets, one of the largest dedicated small cap brokers in London, where he had spent over seven years, latterly as a senior member of the equity sales team. His role at Singer Capital Markets included developing and communicating investment ideas to buy side clients, as well as advising corporate clients on shaping their investment case and raising equity capital.
Bobby Powar joined Liontrust in 2024 as a Fund Manager on the Economic Advantage team, and in January 2025 became co-manager of the Liontrust Global Smaller Companies Fund. Bobby moved from Artemis Investment Management, where he was a Global Equity Analyst. Prior to this he worked as an Investment Associate at Ruffer LLP. He graduated from the University of York in 2017 with a First Class Honours degree in Philosophy, Politics and Economics.
Discrete performance (%)
| As at previous quarter 12 months ending: | Dec 24 | Dec 23 | Dec 22 | Dec 21 | Dec 20 |
|---|---|---|---|---|---|
| Liontrust Global Smaller Companies | 6.2 | 20.8 | -27.1 | 8.0 | 48.0 |
| IA Global | 12.6 | 12.7 | -11.1 | 17.7 | 15.3 |
| Quartile Ranking | 4 | 1 | 4 | 4 | 1 |
Cumulative performance (%)
| As at previous day end | 1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 10 years | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| Liontrust Global Smaller Companies | 6.9 | 5.5 | 7.6 | 5.8 | 14.4 | 17.9 | 49.5 | 167.2 | 180.3 |
| IA Global | 4.9 | 5.4 | 9.3 | 4.5 | 19.1 | 25.1 | 53.6 | 163.2 | 270.2 |
| Quartile Ranking | 1 | 2 | 3 | 1 | 3 | 3 | 3 | 2 | - |
Source: FE fundinfo as at 20/01/2025. Performance figures are shown in GBX. Total return performance figures are calculated net of costs and charges, on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Where applicable the quartile rank is for the primary share class within the sector. If your investment is made in a currency other than that used in the past performance calculation the return may increase or decrease as a result of currency fluctuations.
Current positioning
Top 10 Holdings (%)
For more information on the OCF, see our costs and charges page.
Fund Manager Insights
Victoria Stevens
Victoria Stevens
Victoria Stevens
Natalie Bell
How to invest in Liontrust funds
Key Risks
Past performance does not predict future returns. You may get back less than you originally invested. Overseas investments may carry a higher currency risk. They are valued by reference to their local currency which may move up or down when compared to the currency of the Fund. As the Fund is primarily exposed to smaller companies there may be liquidity constraints from time to time, i.e. in certain circumstances, the fund may not be able to sell a position for full value or at all in the short term. This may affect performance and could cause the fund to defer or suspend redemptions of its shares. In addition the spread between the price you buy and sell units will reflect the less liquid nature of the underlying holdings. Outside of normal conditions, the Fund may hold higher levels of cash which may be deposited with several credit counterparties (e.g. international banks). A credit risk arises should one or more of these counterparties be unable to return the deposited cash. Counterparty Risk: any derivative contract, including FX hedging, may be at risk if the counterparty fails. ESG Risk: In reference to any component (where applicable) of a fund's investment process that uses external ESG data, there may be limitations to the availability, completeness or accuracy of ESG information from third-party providers, or inconsistencies in the consideration of ESG factors across different third party data providers, given the evolving nature of ESG. There is no guarantee that an absolute return will be generated over a three year time period or within another time period.
Disclaimer
This is a marketing communication. Before making an investment, you should read the relevant Prospectus and the Key Investor Information Document (KIID) and/or PRIIP/KID, which provide full product details including investment charges and risks. It should not be construed as advice for investment in any product or security mentioned, an offer to buy or sell units/shares of Funds mentioned, or a solicitation to purchase securities in any company or investment product. Examples of stocks are provided for general information only to demonstrate our investment philosophy. The investment being promoted is for units in a fund, not directly in the underlying assets. This information and analysis is believed to be accurate at the time of publication, but is subject to change without notice. Whilst care has been taken in compiling the content, no representation or warranty is given, whether express or implied, by Liontrust as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified.
