The funds previously held dual objectives to meet a specific volatility target and generate capital growth and/or income. Following the shift, the funds will only focus on the latter objective over the long term. The range will continue to be risk profiled but will no longer be risk targeted, Liontrust said.
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The funds have also been renamed to better clarify their maximum equity exposure:
- MA Active Reserve becomes MA Explorer 35
- MA Active Moderate Income becomes MA Explorer Income 45
- MA Active Intermediate Income becomes MA Explorer Income 60
- MA Active Progressive becomes MA Explorer 70
- MA Active Growth becomes MA Explorer 85
- MA Active Dynamic becomes MA Explorer 100
This will also result in the funds adopting new comparator benchmarks utilising IA sectors that represent their respective exposure to equities.
John Husselbee, head of the Liontrust Multi-Asset team, explained there are four objectives for the change in name and focus for the range: "We want to ensure clarity and transparency so advisers and their clients are able to understand what they are investing in and how the funds can be used within their own portfolios.
"Second, we want to provide choice in terms of funds and portfolios, target risk and returns focused, and which underlying securities are held. Third, this choice and clarity is designed to enable us to help advisers and clients meet their suitability requirements.
"Fourth, we want consistency across all our multi-asset ranges in terms of the investment process and having the same principles behind the implementation of the process."
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The rebrand came after Liontrust appointed Hymans Robertson to provide strategic asset allocation services and Defaqto as its provider of risk profile oversight services for the Multi-Asset funds and portfolios.