Inglis-Jones ‘dramatically reduces' shorts in AR fund

James Inglis-Jones, co-manager of the Liontrust European Absolute Return fund, is making his portfolio more concentrated in a bid to maximise the vehicle's ability to perform in both rising and falling markets.

Inglis-Jones, who manages the fund with Gary West using the pair’s proprietary cashflow solution process, said the vehicle has moved away from style risk in favour of a stock-specific bias. “This year we are dramatically reducing the number of shorts in our portfolio. We have closed 26 shorts in the last month and a half, and have closed a couple of longs too,” he said. The fund had 100 long and short positions at the end of January but this fell to 76 by the end of February, of which 30 were longs and 46 shorts. Inglis-Jones said: “It is a move from style risk to stock-specific ri...