Liontrust Asset Management Share Discussion Threads

[boozey] 24/3/2023 07:56

A NED puts their personal integrity and values on the line when they join a Board. A NED will typically serve 7 years. These two had served around two years. Their sudden departure without an explanation is unusual and concerning to say the least. There is a coded message there.

Shelley, Donald and Yeandle remain - all less credible than Price and Boyd given their backgrounds. There are two types of NED, nodding dogs wanting to protect their fees and those who want to challenge the Board in a positive way. Today's developments would suggest Price and Boyd were the latter. It remains to be seen what the characters of the other three NEDs are.

Clearly something isn't right. The biggest worry is whether Boyd and Price may have found governance concerns within Liontrust that they didn't want to be associated with.

We should be on the look out for possible more Boardroom upheaval or governance issues.

John Ions the CEO has some fallout to manage. A sudden NED departure puts a black mark against his name and he will know it. Not good whatever way you want to look at it.

[trident5] 24/3/2023 07:49

when were they appointed? Edit: Jan 22 and July 21. Didn't last long

[truffle] 24/3/2023 07:37

I wondered that too.
Very unusual for two to resign just like that and with ‘immediate effect’.

[boozey] 24/3/2023 07:26

Why would two NEDs resign suddenly?

[petewy] 12/3/2023 12:04

I have bought and sold LIO at profit and now holding. But not invested in its smaller cos. Don't fancy them.
[...]
e.g.
Positive contributors included:
Inspecs Group (+152%), Bango (+24%), Learning Technologies (+21%), Hilton Food Group (+19%) and Midwich Group (+17%).
Negative contributors included:
Frontier Developments (-50%), James Cropper (-27%), Craneware (-20%), Animalcare Group (-19%) and Tristel (-17%).

[masurenguy] 12/3/2023 08:20

Tipped in the Mail on Sunday today. No position but onto my watchlist.

LIONTRUST UK SMALLER COMPANIES
£1.2bn fund shows why it's still king of the small-cap jungle

The managers do not invest in unquoted stocks, only pick profitable businesses that have their head offices based in the UK – and like the executives of their chosen holdings to have 'skin in the game' (own shares in the businesses they run). The fund is overseen by a six-strong investment team who between them run a number of Liontrust vehicles with exposure to the UK stock market. The team's Anthony Cross believes the fund's framework ensures it has the best chance of obtaining the returns that investors expect.

He says: "Investing in unquoted businesses is a different skill-set to what we do as holders of companies listed on the UK stock market. Unquoteds need more hand-holding which often means sitting on their boards. We prefer to invest in profitable small companies that are not only listed on the UK stock market, but are headquartered here. That gives us the assurance that they are subject to all the laws governing UK companies."

The final part of the process – 'skin in the game' – is ensuring the senior management have the same financial interests as Liontrust: namely to drive up the share price. Of Liontrust UK Smaller Companies' 67 holdings, the average management skin in the game is 20%.

The fund managers select companies that have 'economic advantage'. This means businesses that through a mix of intellectual property, strong distribution and recurring revenues are able to maintain a competitive edge over rivals – driving profits ever higher. The fund is not suitable for income seekers and its ongoing annual charges total 1.32%. Over the past 5 years, its sister fund, Liontrust UK Micro Cap, has delivered superior returns of 63%. Its emphasis on smaller businesses than UK Smaller Companies means it is a riskier investment proposition.

[pinemartin9] 03/2/2023 08:50

Yes, it has presented me with a challenge though. Nice profit here and could be more to come. Hold on for the dividend and maybe see some share price appreciation too, or cash in and watch from sidelines?

Edit: I've looked into this and run through some of my screens etc. All indicators looking bullish, results were good. Pays a good dividend and by my crude assessment this should be more around 1500p. I'm holding and will focus attention elsewhere.

[tag57] 03/2/2023 08:14

Lol yes. Just wondered what was driving the price beyond the positive market sentiment.

[trident5] 02/2/2023 23:32

I found it quite agreeable. You?

[tag57] 02/2/2023 22:42

Anyone have any thoughts on today’s sP increase?

[spawny100] 20/1/2023 18:17

Agree very much depends when you bought in here. I'm on nearly +50% and quite happy to sit on them. Chart definitely looks like it wants to break out upwards from the pennant here to me.

[spectoacc] 19/1/2023 11:00

ISA season will be interesting. Some still have cash to spend, but Covid savings must be falling, c.100,000 a month come off fixed rate mortgages, and tax rises are coming, albeit it over the next 2 years.

I sold out of LIO way, way too soon, but not remotely tempted to go back in.

[tongostl] 19/1/2023 10:57

I wouldn't be so sure that they will be back. Things are only going to deteriorate from here as living with interest rates finally starts to bite into the real economy.

[growthpotential] 18/1/2023 20:28

Flows as expected, full of people bricking it about inflation...They'll be back...

[growthpotential] 11/1/2023 22:58

Any news here, surely the funds are doing fairly well

[r2oo] 18/11/2022 13:49

And still a bargain at this price imo.

[pinemartin9] 18/11/2022 13:34

Yeah...was way too low. sub 800p was a bargain - with a solid dividend. What's not too like.

[r2oo] 18/11/2022 12:31

Market seems to like it too...

[pinemartin9] 18/11/2022 08:00

Look decent results to me. Maintaining the interim dividend. Outflows not too hefty. Should see these maintain these levels in my opinion.

[spectoacc] 18/11/2022 06:52

What, again? No one is interested, pal. You've posted it all over ADVFN.

Ramping is so 2001.

[blackhorse23] 17/11/2022 20:18

Bought CURY (LSE) today

[starpukka] 16/11/2022 13:18

Share price weak today. A reflection of tomorrow's results or just general market soggyness ?

[growthpotential] 11/11/2022 17:21

Which results?