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Liontrust fixed-income team to run absolute fund

Liontrust is looking to add an absolute return fund managed by its new fixed-income team.

Marketing director Rob Page says an onshore launch for the team of five from Ilex is likely to happen, given the abilities that the team has shown in outperforming in difficult conditions.

Liontrust appointed the team, which includes chief investment officer Simon Thorp and chief operating officer Gareth Roblin, in March to continue to diversify its business.

It currently manages the Cayman Islands-domiciled long/short credit fund, which has returned 44 per cent since launch in June 2000 to the end of 2008 in the Euro share class. The fund was up by 5 per cent in April 2009.

Liontrust has already announced plans next month for an absolute return fund for its European team of James Inglis-Jones and Gary West.

Page says: “Absolute return funds are growing in popularity and, with the right managers at the helm, can continue to offer consistent performance to the market and I believe that they will become the core of many portfolios.”


Turning points

The introduction (from the next tax year) of a 50 per cent top rate of income tax (and a rate of 42.5 per cent on dividends for these taxpayers), the removal (subject to tapering) of higher-rate relief on pension contributions for those with income of £150,000 or more and an effective rate of tax of 60 per cent (as a result of the withdrawal of the personal allowance from next year) for those with an income over £100,000 will all combine to make tax planning more in demand. And not just for the relative few who will be caught by (at least the first two of) these changes.

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