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Liontrust Special Situations: holding up in the downturn

Liontrust Special Situations' bias to quality companies gives it additional resilience
Liontrust Special Situations: holding up in the downturn
  • Liontrust Special Situations invests in companies with durable competitive advantages
  • Its bias to quality means it tends to hold up relatively well in downturns
  • It can still invest in smaller companies despite having grown in size

Liontrust Special Situations fund (GB00BG0J2688) is run according to an investment approach its managers call the Economic Advantage Process. This was originally designed by the fund's co-manager, Anthony Cross, in the late 1990s and has been applied since its launch in 2005. The process has since been refined, including after Julian Fosh joined as the fund's co-manager in 2008.

A key feature of the process is identifying companies that have what Mr Cross and Mr Fosh describe as a durable competitive advantage.  

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