Three lessons we've learnt in our first three years as fund managers

How has the world changed since 2016?

Cast your minds back to March 2016, three short years ago, but a very different landscape, write Matt Tonge and Victoria Stevens, co-managers of the Liontrust UK Micro Cap fund.

Donald Trump had a 25% chance of ascending to the Oval Office; the bookies put the probability of a Remain vote in the Brexit referendum at about 70%; and we were newly appointed to the Liontrust Economic Advantage Team, and preparing to launch the Liontrust UK Micro Cap fund. Suffice to say, the past three years have been tumultuous from a macro standpoint, but interesting and educational for us. Here, we outline three key lessons we have learned since launching the fund.  1. Tune out the 'noise' The stock market can be an extremely noisy environment and as a fund manager you ar...