The Liontrust Multi-Asset Investment team

The Multi-Asset team comprises John Husselbee (Head of the team), James Klempster (Deputy Head), Anthony Chemla, Victor Alabrune and David Salisbury. John was a co-founder and CIO of North Investment Partners before joining Liontrust in 2013 and was previously director of multi-manager investments at Henderson Global Investors. James joined in 2021 from Momentum Global Investment Management where he was director of investment management.

Multi-Asset investment process

The Liontrust Multi-Asset investment process is based on a number of core beliefs. These beliefs have been accumulated over the long combined careers of the Liontrust Muti-Asset team and have developed over many years. Among these beliefs are:

• Investment markets are not fully efficient and the degree of inefficiency varies between them

• Sentiment can cause market prices to move away from their fundamental value over the short term

• Over the long term, markets tend to revert towards levels justified by their fundamentals

• Active management of asset allocation can add value through exploiting mispricing and their subsequent return to normal

• We believe that equity markets remain the key driver of long-term real returns

• Within equity markets, factors such as value, growth, quality and size have inherent tailwinds due to either behavioural or market structure inefficiencies

• Each of these factors in isolation can be volatile but a combination of these factors should outperform the broader index over time

• Asset allocation is the means by which we combine complementary asset classes together to create a risk and return profile that is appropriate for different investor cohorts

• We believe that an appropriate time horizon is essential and as a result, a long-term, disciplined, robust and repeatable process will give investors the best chance of long-term outperformance

There are five parts to the Multi-Asset investment process:

• Strategic Asset Allocation (SAA)
• Tactical Asset Allocation (TAA)
• Portfolio construction
• Manager selection
• Implementation

Latest content from the Liontrust Multi-Asset team

Liontrust Multi-Asset process
A guide to managing volatility
Navigating the world of investment
Understanding the risks of investing
Multi-Asset Fund Manager Views
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The Liontrust Sustainable Investment team

The Sustainable Investment team have been managing their Sustainable Future funds for more than 21 years. Since the funds’ launch in 2001, Peter Michaelis and the team have applied the Sustainable Future investment process to generate strong returns from investing in companies aiming to deliver profits through positive social and environmental impacts.

The fund managers look at the world through the prism of three mega trends – better resource efficiency (cleaner), improved health (healthier) and greater safety and resilience (safer) – and then 22 themes within these. If a company has significant exposure to one of the themes, the fund managers verify how sustainable the rest of its activities are.

For each company, the fund managers determine the ESG factors that are important indicators of future success and assess how well these are managed, via he proprietary Liontrust Sustainability Matrix. Companies in which the fund managers invest will have robust business fundamentals with a proven ability to deliver high returns of equity (RoE) through sustaining margins and asset turnover. Typically, these companies have a maintainable competitive advantage through scale, technology or business model.

Liontrust offers a range of five Sustainable Future (SF) Managed funds, investing in a blend of equities, bonds and cash, and they are all risk profiled by Distribution Technology’s Dynamic Planner.

Latest content from the Liontrust Sustainable team

Sustainable Equities Investment process
Sustainable Fixed Income Investment process
Sustainable Annual Review
Explaining and exploring sustainable investment
Sustainable Fund Manager Views
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The Liontrust Economic Advantage team

The award-winning team manages four UK equity funds – including Liontrust Special Situations – by applying 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.

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The Liontrust Global Innovation team

The team seeks to generate strong returns by investing in innovative companies through the three funds they manage, including Liontrust Global Technology. The team believes we are in the early stages of a new technology cycle driven by AI. This this has the potential to rapidly increase productivity, earnings and growth for the winners of this transformation, which will be both leaders and disruptors.

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The Liontrust Cashflow Solution team

The award-winning team believes cash flow is the single most important determinant of shareholder returns. The Cashflow Solution process invests in companies with strong cash flows and/or are attractively valued on cash flow and run by company managers committed to an intelligent use of cash flow. Investments are based on detailed analysis of company report and accounts. The process allows the managers to vary the style exposure of the fund to suit different market environments.

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The Liontrust Global Fixed Income team

The team manage three fixed income strategies – high yield, absolute return and strategic bonds. The investment process is designed to take advantage of inefficiencies in fixed income markets through a thorough understanding of the economic environment and detailed bottom-up stock analysis.

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For more information about Liontrust and to find out more about what our range of funds can deliver for you and your clients, please get in touch with us by email, telephone or by visiting our website:

Website: www.liontrust.co.uk
Telephone: +44 (0)20 7412 1700
Email: [email protected]