Liontrust prepares for credit fund launch in Q1

Liontrust has begun marketing its forthcoming long-only credit fund, but has pushed back plans to launch it to the first quarter of 2011.

In July, chief executive John Ions mooted a September launch date for the fund. It will be the first long-only product for Liontrust's fixed income team under Simon Thorp, formerly of hedge fund Ilex Capital Management. Ions says: "There is no compelling rush to do things, but the credit team's area is a huge growth area. They have come to us with an excellent long-term track record." Their European long-short Ucits III portfolio has grown to €28m (£23.4m) since inception in the first quarter. It is modelled on the team's credit hedge fund. Ions adds: "The team is well positione...