Liontrust has widened the investment parameters on Anthony Cross' £89m Special Situations fund, allowing the manager to focus more of the portfolio in large-cap stocks.
Cross had previously concentrated on investing in small and mid caps, comprising 52% of the fund at the end of April. But the group has now given the manager greater flexibility to go up the market-cap scale in the FTSE All Share. The fund’s investment objective has been changed to one that delivers returns via a “concentrated portfolio of UK shares”, scrapping the previous wording, which stated it would focus on medium- and smaller-sized companies. The group added there will be no changes to investment philosophy and Cross will continue to invest in UK equities with the aim of provid...
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