Liontrust to close Distribution portfolio

Liontrust has closed its £12m Distribution fund following a lack of investor demand. The fund off...

Liontrust has closed its £12m Distribution fund following a lack of investor demand. The fund offered a split between equities and gilts, with the group’s Jeremy Lang running the former part and the latter outsourced to First State. Lang manages the equity portfolio as a mirror of his £795m First Income fund. Since launch in December 2004, Liontrust said the fund has failed to deliver a successful track record or generate significant assets under management. Nick Pilkington, marketing manager at the firm, said: “Distribution has underperformed both the UK equity market and the UK govern...