Smith & Williamson Investment Management has sold Liontrust Special Situations from five mandates within its managed portfolio service less than a year after buying the fund.
S&W IM said it wanted to "focus" its list of UK equity funds, despite viewing the UK market as "cheap and unloved". The team said Anthony Cross and Julian Fosh's £5.4bn Liontrust Special Situations offering had performed "relatively well" since being added to the portfolios in December 2019. Data from FE fundinfo show the fund has lost 9% since 1 December, holding up much better than its FTSE All-Share benchmark's 20.4% loss and IA UK All Companies sector peers' average 17.1% decline. Global equities help drive European fund flows However, co-head of S&W IM's MPS James Burns said t...
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