Liontrust European Dynamic Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | -5.8% | 52.6% | 9.8% | 10.5% | 16.9% |
| Sector | -7.2% | 35.5% | -2.6% | 10.9% | 9.3% |
| Rank | 40/127 | 9/129 | 1/135 | 76/142 | 10/143 |
| Quartile | 2 | 1 | 1 | 3 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 12.3% | 15.3% | 12.0% | |
| Sector | 5.7% | 8.2% | 7.8% | |
| Rank | 3/135 | 1/127 | 3/97 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| NOVO NORDISK A/S | 5.49 |
| PUBLICIS GROUPE SA | 4.77 |
| PANDORA A/S | 4.59 |
| ASML HOLDING N.V. | 4.53 |
| UNICREDIT SOCIETA' PER AZIONI | 3.86 |
| COMPAGNIE DE SAINT-GOBAIN | 3.54 |
| ATLAS COPCO AB | 3.33 |
| HERMES INTERNATIONAL | 3.26 |
| INDUSTRIA DE DISENO TEXTIL SA | 3.16 |
| DASSAULT AVIATION | 3.12 |
| Total | 39.65 |
Fund Aims
The Fund aims to deliver capital growth over the long-term (5 years or more).
Fund Manager
Samantha Gleave joined Liontrust in 2012 as a fund manager to work with James in managing the Cashflow Solution investment process. She began her career at Sutherlands Ltd as a Consumer Analyst before moving on to Fleming Investment Management as senior Investment Analyst covering Pan Europe where she worked with James Inglis-Jones. Samantha moved to Credit Suisse First Boston (Europe) Ltd in 2000 and was in a No 1 ranked equity research sector team (Extel & Institutional Investor Surveys). In 2005, she moved to Bank of America Merrill Lynch and became a Senior Equity Analyst and Director and won awards for Top Stock Pick and Earnings Estimates. Samantha graduated from Aberdeen University in 1995 with an MA Honours degree in Economics & Management.
James Inglis-Jones joined Liontrust in March 2006 to develop the Cashflow Solution investment process. James began his career at Fleming Investment Management in 1997, assuming responsibility for the management of UK equity portfolios in 1999. Between 1999 and 2002, he worked on JP Morgan Fleming’s institutional investment process and managed a wide range of retail and institutional funds as a senior portfolio manager within their European equity group. In 2003, he joined Polar Capital to manage a European market neutral fund. James graduated in 1990 with a First Class Honours Degree in Modern History from York University. He went on to gain a D.Phil in Modern History from Christ Church, Oxford.
Fund Overview
| Mid (01/05/2024) | 370.33p |
| Historic yield | 2.49% |
| Fund size (31/03/2024) | £1402.23m |
| Number of holdings | 34 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
| Launch date | 01/11/2010 |
Asset Allocation
| International Equities | 95.45% | |
| Cash and Equivalents | 4.55% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 95.45% | |
| Cash and Equivalents | 4.55% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Discretionary | 26.14% | - | - | - | |
| Consumer Products & Services | - | 7.85% | - | - | |
| Personal Goods | - | - | 7.85% | - | |
| Luxury Items | - | - | - | 4.59% | |
| Clothing & Accessories | - | - | - | 3.26% | |
| Travel & Leisure | - | 5.35% | - | - | |
| Travel & Leisure | - | - | 5.35% | - | |
| Casinos & Gambling | - | - | - | 5.35% | |
| Automobiles & Parts | - | 5.00% | - | - | |
| Automobiles & Parts | - | - | 5.00% | - | |
| Automobiles | - | - | - | 5.00% | |
| Media | - | 4.77% | - | - | |
| Media | - | - | 4.77% | - | |
| Media Agencies | - | - | - | 4.77% | |
| Retail | - | 3.16% | - | - | |
| Retailers | - | - | 3.16% | - | |
| Apparel Retailers | - | - | - | 3.16% | |
| Industrials | 20.60% | - | - | - | |
| Industrial Goods & Services | - | 14.34% | - | - | |
| Industrial Engineering | - | - | 6.18% | - | |
| Machinery: Construction & Handling | - | - | - | 3.33% | |
| Machinery: Engines | - | - | - | 2.85% | |
| Aerospace & Defence | - | - | 3.12% | - | |
| Aerospace | - | - | - | 3.12% | |
| Industrial Support Services | - | - | 3.05% | - | |
| Transaction Processing Services | - | - | - | 3.05% | |
| Industrial Transportation | - | - | 1.99% | - | |
| Delivery Services | - | - | - | 1.99% | |
| Construction & Materials | - | 6.26% | - | - | |
| Construction & Materials | - | - | 6.26% | - | |
| Building Materials: Other | - | - | - | 6.26% | |
| Financials | 20.40% | - | - | - | |
| Banks | - | 11.61% | - | - | |
| Banks | - | - | 11.61% | - | |
| Banks | - | - | - | 11.61% | |
| Financial Services | - | 8.80% | - | - | |
| Investment Banking & Brokerage Services | - | - | 8.80% | - | |
| Asset Managers & Custodians | - | - | - | 5.96% | |
| Diversified Financial Services | - | - | - | 2.84% | |
| Health Care | 10.59% | - | - | - | |
| Health Care | - | 10.59% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 10.59% | - | |
| Pharmaceuticals | - | - | - | 10.59% | |
| Technology | 8.78% | - | - | - | |
| Technology | - | 8.78% | - | - | |
| Technology Hardware & Equipment | - | - | 6.88% | - | |
| Production Technology Equipment | - | - | - | 4.53% | |
| Computer Hardware | - | - | - | 2.35% | |
| Software & Computer Services | - | - | 1.90% | - | |
| Software | - | - | - | 1.90% | |
| Cash and Equivalents | 4.55% | - | - | - | |
| Consumer Staples | 3.22% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 3.22% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 3.22% | - | |
| Food Retailers & Wholesalers | - | - | - | 3.22% | |
| Basic Materials | 3.03% | - | - | - | |
| Basic Resources | - | 3.03% | - | - | |
| Industrial Metals & Mining | - | - | 3.03% | - | |
| Iron & Steel | - | - | - | 3.03% | |
| Energy | 2.68% | - | - | - | |
| Energy | - | 2.68% | - | - | |
| Non-Renewable Energy | - | - | 2.68% | - | |
| Integrated Oil & Gas | - | - | - | 1.66% | |
| Oil Equipment & Services | - | - | - | 1.02% | |
Regional Allocation
| Developed Europe - Excl UK | 90.17% | |
| Cash and Equivalents | 4.55% | |
| Non-Classified | 2.80% | |
| Emerging Europe | 2.48% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 90.17% | - | |
France
|
- | 21.03% | |
Switzerland
|
- | 10.94% | |
Denmark
|
- | 10.08% | |
Netherlands
|
- | 9.77% | |
Spain
|
- | 7.95% | |
Germany
|
- | 6.85% | |
Italy
|
- | 6.70% | |
Sweden
|
- | 6.20% | |
Belgium
|
- | 3.03% | |
Finland
|
- | 2.85% | |
Ireland
|
- | 2.72% | |
Portugal
|
- | 1.03% | |
Luxembourg
|
- | 1.02% | |
| Cash and Equivalents | 4.55% | - | |
| Non-Classified | 2.80% | - | |
| Emerging Europe | 2.48% | - | |
Greece
|
- | 2.48% | |
Breakdown By Market Cap (%)
| Mega |
|
46.38% |
| Large |
|
32.84% |
| Medium |
|
7.41% |
| Non-Classified |
|
8.81% |
| Cash |
|
4.55% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | NOVO NORDISK A/S | 5.49% | Pharmaceuticals & Biotechnology | Denmark |
| 2 | PUBLICIS GROUPE SA | 4.77% | Media | France |
| 3 | PANDORA A/S | 4.59% | Personal Goods | Denmark |
| 4 | ASML HOLDING N.V. | 4.53% | Technology Hardware & Equipment | Netherlands |
| 5 | UNICREDIT SOCIETA' PER AZIONI | 3.86% | Banks | Italy |
| 6 | COMPAGNIE DE SAINT-GOBAIN | 3.54% | Construction & Materials | France |
| 7 | ATLAS COPCO AB | 3.33% | Industrial Engineering | Sweden |
| 8 | HERMES INTERNATIONAL | 3.26% | Personal Goods | France |
| 9 | INDUSTRIA DE DISENO TEXTIL SA | 3.16% | Retailers | Spain |
| 10 | DASSAULT AVIATION | 3.12% | Aerospace & Defence | France |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 8.78% | - | - | - | - | - | - | 8.78% |
| Financials | - | 20.40% | - | - | - | - | - | - | 20.40% |
| Consumer Discretionary | - | 26.14% | - | - | - | - | - | - | 26.14% |
| Consumer Staples | - | 3.22% | - | - | - | - | - | - | 3.22% |
| Energy | - | 2.68% | - | - | - | - | - | - | 2.68% |
| Health Care | - | 10.59% | - | - | - | - | - | - | 10.59% |
| Industrials | - | 20.60% | - | - | - | - | - | - | 20.60% |
| Basic Materials | - | 3.03% | - | - | - | - | - | - | 3.03% |
| Cash and Equivalents | - | - | - | - | - | - | - | 4.55% | 4.55% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B4ZM1M7 |
| Mex Code | Q5EURO |
| Isin Code | GB00B4ZM1M76 |
| Citi Code | LIM6 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
Aims and Benchmark
| Aims | The Fund aims to deliver capital growth over the long-term (5 years or more). |
| Benchmark | MSCI Europe ex UK |
| Benchmark Category | Comparator |
| IA Sector | Europe Excluding UK |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 May | 30 June |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | BNY Mellon Trust & Depositary (UK) Ltd |
| Fund Administrator | The Bank of New York Mellon (International) Limited |
| Fund Registrar | The Bank of New York Mellon SA/NV |
| Fund Custodian | The Bank of New York Mellon (International) Limited |
Group Details
| Group name | Liontrust Fund Partners LLP |
| Group address | 2 Savoy Court London WC2R 0EZ |
| Group telephone | 020 7412 1766 |
| Dealing telephone | 020 7964 4774 |
| info@liontrust.co.uk | |
| Homepage | www.liontrust.co.uk |
| Fax number | 020 7412 1779 |
Dealing
| Minimum Investment | £5000000 |
| Minimum Top Up | £100000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 7.19 |
| Beta | 0.94 |
| Sharpe | 0.65 |
| Standard Deviation | 13.65 |
| Info Ratio | 1.17 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.