Liontrust Global Income R GBP Dis

IMA Sector:

Global Equity Income

ISIN:

GB0007010795

Fund Type:

Unit Trust

168.07p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 25-Jun-2021
  • Change: 0.15p
  • Change %: 0.09%
  • Currency: GBP
  • YTD change: 168.07p
  • YTD %: n/a

Fund Objective

The investment objective of Liontrust First Income Fund is to provide a high level of income, with capital values keeping pace with inflation

View on Past Performance

There are reasons to be gloomy. The banking system is on its knees. Recession is coming, almost everywhere. This is an easy environment to get pessimistic, very pessimistic. This is exactly what investors have done.Sections of the UK stockmarket are getting extraordinarily cheap. There are over 150 stocks with dividend yields at least 2% above 20 year gilts. This doesn't happen very often. There hasn't been this many stocks that are this cheap since March 2003. Even in the banking crisis of 1973/4 there weren't this many.The last 18 months have been horrible: the average stock in the Fund has just about halved. The prospective dividend yield is closing in on 7% net. Despite the trauma so far - two stocks have gone bust already, and a noticeable number have suspended dividends - the dividend on the Fund has grown again (up by 16% in 2008).It is very unusual to be able to build a Fund which owns a diversified slice of corporate UK with a dividend yield this high relative to safe assets like gilts and index-linked gilts. Stock markets have been through a lot of stress in their long history. Stock market history shows two simple things. First, stock markets survive. Second, buy stock market risk when it is high - the returns are much, much better than when it is low.

Future Expectations

Most of the stocks likely to be sold will be in companies where times are so tough they have stopped paying dividends - like banks. I will be looking especially hard at companies' balance sheets and cash flow statements. The economy is likely to be tough so my emphasis will be on companies in distressed areas of the economy (where pessimism is very high) which are robust.

Fund Details

Latest Price 168.07p IMA Sector Global Equity Income
Currency British Pound Launch Date 07/02/1990
Fund Size n/a Fund Manager Jeremy Lang
ISIN GB0007010795 Dividend 1.69p
 

Price Info

Date 25-Jun-2021
Bid 168.06p
Offer 168.09p
Currency GBP
Change 0.15p
% 0.09%
YTD change 168.07p
YTD % n/a

Fund Facts

Fund Inception 07/02/1990
Fund Manager Jeremy Lang
TER 1.66 (31-Dec-2013)

Fund Reports

Minimum Investment
Initial £2500
Additional n/a
Savings n/a
Charges
Initial 5.00%
Annual Mang't 1.50%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio 0.11

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