Liontrust UK Micro Cap Fund | What we offer | Liontrust Asset Management PLC
Liontrust - Economic Advantage

UK Micro Cap Fund

Anthony Cross, Julian Fosh, Victoria Stevens, Matt Tonge & Alex Wedge

The Fund

The Fund, which has been managed by Anthony Cross, Julian Fosh, Victoria Stevens and Matt Tonge since launch in March 2016, 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. Companies in the Fund must have a minimum 3% equity ownership by senior management, which the fund managers believe motivates key employees, helps to secure a company’s competitive edge and leads to better corporate performance. 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 (centre-left) has managed the Liontrust Special Situations and UK Smaller Companies Funds since launch and he started working with Julian Fosh (centre-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. Victoria Stevens (right) and Matt Tonge (left) joined the team in 2015 to research and analyse investment opportunities primarily across the small cap universe. Alex Wedge (not pictured) joined the team in March 2020 from N+1 Singer.

Read more

Liontrust UK Micro Cap Fund sales aid

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

Why we have invested in IMI

Julian Fosh

The stockmarket setback in March allowed the Economic Advantage... Read more

Ratings

Citywire rated AAA
Anthony Cross
Citywire Manager rating: AAA
Citywire rated AAA
Julian Fosh
Citywire Manager rating: AAA
Citywire rated AAA
Victoria Stevens
Citywire Manager rating: AAA
Citywire rated AAA
Matt Tonge
Citywire Manager rating: AAA
FE Crown Rated - 5
Liontrust UK Micro Cap Fund
FE fundinfo Crown Rating: 5

Latest fund update

UK Micro Cap

Read the latest update for the Liontrust UK Micro Cap Fund. Read more

   

Morningstar rated 5 star
Liontrust UK Micro Cap Fund
Morningstar Rating: 5
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 Approved Fund
Liontrust UK Micro Cap Fund
FE Investments Approved List
Fund Calibre Elite Provider - Equities
Liontrust UK Micro Cap Fund
FundCalibre Elite Rated

Performance*

Discrete performance

30-06-2019 -
30-06-2020
30-06-2018 -
30-06-2019
30-06-2017 -
30-06-2018
30-06-2016 -
30-06-2017
30-06-2015 -
30-06-2016
Liontrust UK Micro Cap 4.57% 3.11% 21.43% 33.70% N/A
IA UK Smaller Companies -6.55% -6.18% 17.20% 36.33% N/A
FTSE SmallCap ex Inv Co -12.29% -8.63% 6.36% 28.39% N/A
Liontrust UK Micro Cap
IA UK Smaller Companies
FTSE SmallCap ex Inv Co
Cumulative performance

To previous working day 6 months 1 year 3 year 5 year 10 year Since launch
Liontrust UK Micro Cap -9.32% 8.96% 31.99% N/A N/A 73.50%
IA UK Smaller Companies -15.19% -1.59% 0.77% N/A N/A 36.52%
FTSE SmallCap ex Inv Co -22.73% -10.49% -18.22% N/A N/A 5.37%
To previous working day
Liontrust UK Micro Cap
IA UK Smaller Companies
FTSE SmallCap ex Inv Co

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. Discrete performance data is not available for five full 12 month periods due to the launch date of the portfolio. 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.

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 date3/9/2016
  • IA sectorIA UK Smaller Companies
  • Fund size£91,715,680.92
  • Number of holdings66

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

Back to top