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Article: FOCUS: Lion's share of underperformance.(Lion trust)
- Article from:
- Fund Strategy
- Article date:
- June 27, 2005
- Author:
CopyrightCOPYRIGHT 2005 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The last 18 months have not been a roaring success for Liontrust, but the group stands by its managers and is convinced that things are starting to look up. Adam Lewis reports.
If investors are to believe the hype, Liontrust is a troubled firm. The darling of UK equity fund management three years ago, performance across several of its portfolios has stumbled. All five of its funds with a 12-month track record have achieved below-median performance in their sectors.
In its annual results for 2005 the group reported that funds under management had fallen 13% over the past 12 months - down from #5.03bn in March 2004 to #4.4bn in March 2005. This was ...