Liontrust Smaller Cos fund renamed

The £56m Liontrust First Smaller Companies unit trust is being renamed the Liontrust Intellectual Capital Trust to better reflect the investment style of fund manager Anthony Cross. Cross, who has managed the fund since January 1998 after joining Liontrust from Schroders, looks at a company's intangible assets like patents and branding, rather than tangible assets like plant and equipment. Another important aspect is that the directors must own at least 3% of the company. He believes that the label 'small companies' is misleading. Over the one year to 26 July, the fund is placed 27 out ...