Liontrust Special Situations Fund | What we offer | Liontrust Asset Management PLC
Liontrust - Economic Advantage

Special Situations Fund

Anthony Cross & Julian Fosh

The Fund

The multi-award-winning Fund has been managed since launch in November 2005 by Anthony Cross, who was joined by his co-manager Julian Fosh in 2008. The Fund aims to deliver capital growth over the long term (5 years or more) through using the Economic Advantage investment process. The process seeks to identify companies with a durable competitive advantage that allows them to defy industry competition and sustain a higher than average level of profitability for longer than expected. The Fund invests at least 90% of the portfolio in companies incorporated, domiciled or which conduct significant business in the United Kingdom (UK).

Download literature

The Economic Advantage team

The Economic Advantage team

Anthony Cross (left) has managed the Liontrust Special Situations and UK Smaller Companies Funds since launch and he started working with Julian Fosh (right) at Liontrust in 2008. Julian has previously managed money at Scottish Amicable Investment Managers, Britannic Investment Managers, Scottish Friendly Assurance Society and Saracen Fund Managers.

Read more

The Economic Advantage Process

The process seeks to identify companies that possess intangible assets which produce barriers to competition and provide a durable competitive advantage that allows the companies to defy industry competition and sustain a higher than average level of profitability for longer than expected. In the fund managers’ experience, the hardest characteristics for competitors to replicate are three classes of intangible asset: intellectual property, strong distribution channels and significant recurring business.

Read more

Success stories in the UK micro cap space

Victoria Stevens

Since its launch 5 years ago, a number of stocks... Read more

 

Awards and ratings

FE Alpha Manager 2018 - Anthony Cross
Anthony Cross
FE Alpha Manager 2020
FE Alpha Manager 2018 - Julian Fosh
Julian Fosh
FE Alpha Manager 2020
FE Fundinfo Alpha Manager of the year 2020
FE fundinfo AM Awards 2020
Alpha Managers of the Year
Anthony Cross & Julian Fosh
FE Fundinfo Best Alpha Manager, UK Equities
FE fundinfo AM Awards 2020
UK Equities Managers of the Year
Anthony Cross & Julian Fosh
Morningstar OBSR - Bronze
Liontrust Special Situations Fund
Morningstar Analyst Rating: Bronze
AJ Bell 2020 UK Equity Special Situations 100x100
AJ Bell Fund & IT Awards 2020
UK Equity - Active
Morningstar Awards 2019
Morningstar Awards 2019
Best UK Equity Fund
Winner UK Growth
IW FM of the Year Awards 2018
Best UK Growth Fund
AJ Bell Fund & Investment Trust Awards 2018
AJ Bell Fund & IT Awards 2018
UK Equity - Active

Latest fund update

Special Situations Fund

Read the latest update for the Liontrust Special Situations Fund.
Read more

   

Citywire - Fund Manager rated AA
Anthony Cross & Julian Fosh
Citywire Manager rating: AA
Citywire rated AAA
Victoria Stevens & Matt Tonge
Citywire Manager rating: AAA
Morningstar rated 5 star
Liontrust Special Situations Fund
Morningstar Rating: 5
FE Crown Rated - 5
Liontrust Special Situations Fund
FE fundinfo Crown Rating: 5
Rayner Spencer Mills - R Rated Fund
Liontrust Special Situations Fund
RSMR Rated Fund
Square Mile Rated AA - Liontrust
Liontrust Special Situations Fund
Square Mile rating: AA
Fund Calibre Elite Provider - Equities
Liontrust Special Situations Fund
FundCalibre Elite Rated
Money Observer - Rated fund 2018
Liontrust Special Situations Fund
Money Observer rated 2018
Morningstar Sustainability rated 4
Liontrust Special Situations Fund
Morningstar Sustainability Rating: 4

Performance*

Discrete performance

31-03-2020 -
31-03-2021
31-03-2019 -
31-03-2020
31-03-2018 -
31-03-2019
31-03-2017 -
31-03-2018
31-03-2016 -
31-03-2017
Liontrust Special Situations 31.08% -10.98% 8.95% 7.24% 22.96%
IA UK All Companies 37.99% -19.17% 2.86% 2.65% 17.95%
FTSE All Share 26.71% -18.45% 6.36% 1.25% 21.95%
Liontrust Special Situations
IA UK All Companies
FTSE All Share
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust Special Situations 20.17% 32.34% 28.13% 73.17% 208.11% 522.93%
IA UK All Companies 25.48% 37.99% 13.53% 41.82% 96.47% 163.33%
FTSE All Share 22.26% 27.93% 8.09% 36.88% 80.56% 152.39%
To previous working day
Liontrust Special Situations
IA UK All Companies
FTSE All Share

Key Risks

Past performance is not a guide to future performance. Do remember that the value of an investment and the income generated from them can fall as well as rise and is not guaranteed, therefore, you may not get back the amount originally invested and potentially risk total loss of capital. Some of the Funds managed by the Economic Advantage team invest primarily in smaller companies and companies traded on the Alternative Investment Market.  These stocks may be less liquid and the price swings greater than those in, for example, larger companies. The performance of the  GF UK Growth Fund may differ from the performance of the  UK Growth Fund and will be lower than its corresponding Master Fund due to additional fees and expenses.


Disclaimer

The information and opinions provided 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.  Always research your own investments and (if you are not a professional or a financial adviser) consult suitability with a regulated financial adviser before investing.


Source: Financial Express. Total return, bid-to-bid. Citywire information is proprietary and confidential to Citywire Financial Publishers Ltd ('Citywire'), may not be copied and Citywire excludes any liability arising out of its use. 


© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  Past performance is no guarantee of future results.

Explore in detail

For more information (including prices) and to explore all of the Fund's share classes in more detail please visit our interactive fund centre.

Go

Key fund information

  • Launch date11/10/2005
  • IA sectorIA UK All Companies
  • Fund size£6,032,997,558.49
  • Number of holdings59

Fund size and number of holdings data is as at previous month end. Performance data is as at previous working day.

Active Share: The percentage of a portfolio invested differently to its benchmark. A 100% active share is a portfolio with no weightings in the benchmark, a 0% active share is a portfolio identical to the benchmark.

Back to top