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Liontrust hopes to make capital from a small alteration

Liontrust Asset Management is changing the name of its First Smaller Companies fund to the Liontrust Intellectual Capital trust.

The name change will take place at the beginning of October alongside the launch of Liontrust&#39s first Isa.

The boutique investment house, which has around £1.1bn under management, is changing the fund name in an effort to differentiate it from the UK&#39s other smaller company funds. All other funds in the sector have the word “smaller” in their name.

The fund restricts itself to investing in small companies that devote sufficient time and money to their employees. At least 3 per cent of a company must be held by the employees for it to qualify for the fund.

Marketing director Jonathan Harbottle says: “The phrase smaller companies is a bit misleading. People tend to group all 85 smaller companies funds under the same bracket but there are 2,000 quoted on the stock exchange and you cannot write them all off under one label like that.

“Our fund manager, Anthony Cross, looks at how a particular company exploits its tangi-ble strengths, that is, its intell-ectual capital, and also how it maintains and develops it.”

Bates Investment senior analyst James Dalby says: “As a fund, we like it, and the early signs since its launch have been very promising. But I am not convinced that the name change is a good idea. It may restrict their market.”

Specialist insurance prov-ider Criterion Assurance Group is sponsoring a 1,760-mile yacht race round the coast of the British Isles.

This is the first year the company has backed the Criterion Round Britain and Ireland race. It is being contested by 16 boats, which will have to negotiate shipping lanes, strong tides, sandbanks and oil rigs during the two-week event.

The tough reputation of the race has been proved true again this year when, after the first two days, six yachts had to retire, two due to injury of crew members, three to equipment failure and one because of a collision with a merchant ship. It began on August 20 and will finish on September 3.

Criterion provides financial services companies with the necessary technical skills to offer their own life insurance, pensions and investment bonds.

Chief executive Nigel Cooke says: “Criterion is about innovation and going beyond traditional boundaries. The same can be said of this race. It is an exciting two-week period of real endurance and determination.”


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