Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Liontrust Macro Equity Income Fund - Acc (R)

Ranked 57 out of 110 in - UK Equity Income over 3 months
All calculations are in GBP unless stated

Managed by

Stephen Bailey

London-born Stephen Bailey began his career in stockbroking in 1985 as a private client portfolio manager with Statham, Duff, Stoop. He followed this with a year at Sheppards & Chase, before joining Walker Crips Weddle Beck plc in 1987. After over 2 decades at Walker Crisps where he was the investment director, Bailey joined Liontrust in 2012 where he currently runs their Macro Equity Income fund and their Macro UK Growth Fund. As a keen stockmarket historian, Bailey's interest in the financial world extends beyond the rigours of fund management, he is also a sports enthusiast who enjoys cricket, rugby and golf.

Jamie Clark

Jamie Clark joined Liontrust in April 2012, transferring from Walkers Crips Asset Managers (WCAM). He joined WCAM in 2003 and prior to that he was a junior proprietary trader at First New York Securities. Jamie graduated from Southampton University in 2000 with a BA in English Literature and from Warwick University in 2001 with an MA with Distinction in English Literature.


The investment objective of the Fund is to provide Unitholders with a rising level of income, together with capital growth. In providing an above average level of income, particular attention will be paid towards capital security and maintenance. There is no restriction on the economic sectors or geographical areas in which the Fund may invest, however, the investments will be predominantly in ordinary shares of UK companies, although the Fund may also invest in other transferable securities, collective investment schemes, warrants, money market instruments and deposits.

Showing fund performance in United Kingdom View performance globally


UK Equity Income over : 31/12/2016 - 31/03/2017

Total Return

Quarterly Performance

to 31/03/2017 Annual Q1 Q2 Q3 Q4
2017 4.0%
2016 6.3% -2.5% -3.4% 9.1% 3.5%
2015 5.4% 6.6% 0.0% -5.6% 4.6%
2014 3.4% 1.2% 1.0% -1.6% 2.8%
2013 30.0% 13.2% 0.5% 4.6% 9.1%
2012 6.7% 3.9% -2.5% 5.2% 0.2%
2011 -1.0% -0.3% 2.0% -8.0% 5.8%
2010 17.0% 6.0% -7.6% 11.1% 7.6%
2009 31.2% -8.3% 10.8% 21.8% 6.0%
2008 -26.0% -12.0% 0.9% -12.1% -5.2%
2007 3.0% 0.9% 3.8% -2.3% 0.7%
2006 18.5% 11.0% -3.9% 4.9% 5.9%
2005 23.9% 7.0% 3.4% 7.4% 4.2%
2004 26.4% 3.8% 1.4% 7.7% 11.5%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
GlaxoSmithKline PLC ORD 6.56
Legal & General Group PLC ORD 5.21
Vodafone Group PLC ORD 4.82
Aviva PLC ORD 4.78
Rio Tinto PLC ORD 4.74
BT Group PLC ORD 4.58
AT&T Inc ORD 4.57
Pfizer Inc ORD 4.10
Verizon Communications Inc ORD 4.01
Kier Group PLC ORD 3.67

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date31/10/2003
  • Share Class size14Mn
  • Base currencyGBP
  • ISIN GB0033726984

Purchase Info

  • Min. initial investment100,000
  • Min. regular additional investment5,000


  • Annual management1.50%
  • Initial investment5

Related News

Open for business: What M&A to expect post-Brexit

A weaker sterling has already prompted Japanese group SoftBank to acquire ARM Holdings.

Liontrust Macro Equity Income

How Aberdeen wealth businesses defied oil bust

The oil price slide has dented Aberdeen economically, according to regional wealth managers in the region, but financial service business levels are defying the bust.

The 14 funds in Gardhouse's HL High Income launch portfolio

Hargreaves Lansdown has revealed what the make-up of its Multi-Manager High Income fund will be at launch next month, so who made the cut?

Life insurer evolution: will vertically integrated models succeed?

Life insurers have undergone dramatic change since the financial crisis first hit, but what will be the next stage of their evolution?

Summer Budget: savers handed £5k tax-free allowance on dividends

Individuals will have a £5,000 tax-free allowance on dividend income.

How to overcome income fund concentration risk

Fund selectors have warned that concentration risk still represents a major headwind for income investors.

Can listed players grow further on the back of pension freedoms?

Argument is split on whether asset managers will benefit as expected from the pensions reforms.

Why 'unique' River & Mercantile was A-rated Bailey's only 2014 IPO play

There have been 93 flotations this year but Liontrust's Stephen Bailey only found one worth backing.

The fund groups offering bumper yields

The UK’s listed fund groups are returning their cash piles to shareholders - a trend that has not gone unnoticed by savvy income-seekers.


Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).