Liontrust managers Anthony Cross and Julian Fosh have said the ‘dash for trash' that characterised UK equity markets last year may be coming to an end.
The managers, whose Liontrust Special Situations fund underperformed peers last year in the face of a sharp rise in UK indices, added they have not been tempted to change the type of companies in which they invest, in a bid to catch up. The £1.1bn fund remains top quartile in the IMA UK All Companies sector over three and five years, and the pair suggested their investment style is beginning to be rewarded by the market. “Things are coming back for us. We were ahead of peers in November and December, and again in January. Our style is coming back into favour,” said Cross. The pair’...
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