Liontrust Assessment of Value Report - Flipbook - Page 136
Liontrust MA Passive Prudent Fund
The Fund, which is managed by the Multi-Asset team, seeks to
achieve capital growth and income with a low level of volatility
(risk), having a risk profile of 2, in a range from 1 to 7 where 1 is
the lowest risk and 7 the highest. The underlying funds will, where
practicably possible, be passive funds, meaning they seek to track
investment indices.
Performance
Overall value
assessment
We have evaluated the Fund
against all seven criteria in
our assessment of the value
it provides to investors. We
have concluded that the
Fund has performed in line
with expectations, delivering
overall value to investors.
Go back to the Summary
of the Assessment of
Value table
We have assessed the investment performance of the Fund against its stated
investment objective that is set out in its prospectus. We considered whether the
Fund has performed how we and investors would expect it to, given the market
conditions it has been operating under, and its investment philosophy, strategy
and process.
The Fund’s objective is to target a specific level of long-term volatility while trying
to maximise the total return to the investor which may be in the form of either
income or capital growth.
We have reviewed the positioning of the portfolio and the expected future
volatility of the portfolio over the last year and can confirm that the Fund stayed
within its targeted risk band and is on track to meet the expected level of
volatility over the long term.
The Fund delivered a return of 19.1% over the past five years, meeting its stated
investment objective of achieving capital growth and income in absolute terms.*
The Fund has seen positive returns across both equities and bonds. The strong
performance of US equities provided the biggest contribution while other
markets including UK, Japan, Emerging Markets and Europe were also positive
contributors.
UK gilts were a positive contributor over the period, although this was somewhat
offset by holdings in index linked gilts and global government bonds which
acted as a drag on performance. Overall, bonds continue to meet four
roles: providing some income, capital preservation, inflation protection and
diversification from equities.
The Fund’s exposure to UK property also performed relatively well over the
period, with all three holdings providing positive returns.
This document is intended to be for information purposes only. It is not
marketing material.
*Source: Financial Express, as at 31.08.21, total return.
136 - Liontrust Assessment of Value Report