Multi-Asset Explorer Funds

About the MA Explorer Funds

The primary objective of the six Multi-Asset Explorer funds is to generate capital growth and/or income over the long term, which we define as five years or more. To achieve this, the funds explore the best investment opportunities across a range of asset classes, geographies, sectors and funds. The names of the funds represent the maximum exposure they can each have to equities: 35%, 45%, 60%, 70%, 85% and 100%. In managing these funds, the Multi-Asset team uses passive vehicles where it is appropriate to do so and they are available and invest in actively managed funds where we believe the opportunity to deliver higher returns is greatest or where passive funds are not an option.

While unlike the Multi-Asset Blended and Multi-Asset Dynamic Passive ranges, the Multi-Asset Explorer funds do not target risk, the latter are risk profiled.


 

Our Multi-Asset Explorer Funds

Past performance does not predict future returns. You may get back less than you originally invested. Reference to specific securities is not intended as a recommendation to purchase or sell any investment. 

Performance of the Liontrust Explorer fund range

Source: FE Analytics, as at 30.06.25. Since inception data runs 10.04.07 to 30.06.25. Primary share class, total return figures are calculated on a single pricing basis with net income (dividends) reinvested. Performance figures are shown in sterling. Transaction costs are included for the period shown but may differ in the future as these costs cannot be determined with precision in advance.

Past performance does not predict future returns. You may get back less than you originally invested.

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Multi-Asset team

The investment team has extensive experience of Multi-Asset, equity and fixed income investing. Collectively, they have managed funds and portfolios for many decades through different economic and market cycles, and each member contributes to every stage of the investment process. The team was enhanced by the integration of the Liontrust Global Fixed Income (GFI) at the start of 2025 and benefits from being able to tap into the knowledge, insights and experience of the other investment teams at Liontrust, who primarily invest in equities. The team is headed by John Husselbee, who joined Liontrust in 2013 and was previously a co-founder and CIO of North Investment Partners, Director of Multi-Manager Investments at Henderson Global Investors, and NM Rothschild & Sons.

 

Investment process

Strategic asset allocation (SAA)
The SAA is the primary determinant of suitability and long-term risk and returns for investors. To determine the SAA, historical returns and volatilities of a range of asset classes, as well as their correlations with each other, and other market dynamics are collated and studied. The SAA is updated annually and have a 15-year time horizon.
Tactical asset allocation (TAA)
TAA determines the overweight or underweight exposure to asset classes compared to the SAA. Each asset class, sub-asset class and the overall market environment are given a score from 1 to 5. The quants data provide a quantitative perspective on, for example, the relative attractiveness of an equity market both against other markets and against its own history. The scorecard informs the over and underweights that the team expresses through portfolio construction.
Portfolio construction
We test the performance and interaction of factors, such as value, growth, quality or size, over the long term and identify a blend that will provide the most effective risk-adjusted exposure. The decision on the use of passive vehicles depends on availability and suitability. The combination of the target manager allocations and TAA weights provides a target holding size for every manager. The team ensures the new targets comply will portfolio rules and restrictions.
Manager selection
Managers are subjected to quantitative analysis of current and past positioning. We analyse the drivers of performance, particularly the stylistic exposure of managers. The team considers manager philosophy and process, team structure, business structure and incentivisation, stock selection process, portfolio construction, historical and current positioning. We also ensure selected funds are suitable from an operational and compliance perspective.
Implementation
The team implements the process in a manner that treats customers fairly, creates consistency across the fund and portfolio ranges wherever possible, finding an optimal balance between trading and portfolio turnover, and ensuring the implemented holdings reflect the team’s views. Underpinning all of this is the need to remain suitable for investors from a risk and mandate perspective. 

 

As the Fund is targeting the volatility expected by investors, then there will be short-term periods when the Fund may underperform relative to the market and other funds, especially those seeking to generate capital growth without a volatility target. The Fund typically performs well on a relative basis when diversification is rewarded by markets.

Your contacts

Sagar Mehta
Sagar MehtaUK Client Service
Jemima Kenworthy
Jemima KenworthyUK Client Service
Sam Norton
Samuel NortonUK Client Service

Key Risks

Past performance does not predict future returns. You may get back less than you originally invested.

We recommend this fund is held long term (minimum period of 5 years). We recommend that you hold this fund as part of a diversified portfolio of investments

  • Credit Risk: There is a risk that an investment will fail to make required payments and this may reduce the income paid to the fund, or its capital value;
  • Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss;
  • Liquidity Risk: If underlying funds suspend or defer the payment of redemption proceeds, the Fund's ability to meet redemption requests may also be affected;
  • Interest Rate Risk: Fluctuations in interest rates may affect the value of the Fund and your investment;
  • Derivatives Risk: Some of the underlying funds may invest in derivatives, which can, in some circumstances, create wider fluctuations in their prices over time;
  • Emerging Markets: The Fund may invest in less economically developed markets (emerging markets) which can involve greater risks than well developed economies;
  • Currency Risk: The Fund invests in overseas markets and the value of the Fund may fall or rise as a result of changes in exchange rates.
  • ESG Risk: there may be limitations to the availability, completeness or accuracy of ESG information from third-party providers, or inconsistencies in the consideration of ESG factors across different third party data providers, given the evolving nature of ESG.

The issue of units/shares in Liontrust Funds may be subject to an initial charge, which will have an impact on the realisable value of the investment, particularly in the short term. Investments should always be considered as long term.

Disclaimer

This material is issued by Liontrust Investment Partners LLP (2 Savoy Court, London WC2R 0EZ), authorised and regulated in the UK by the Financial Conduct Authority (FRN 518552) to undertake regulated investment business.

It should not be construed as advice for investment in any product or security mentioned, an offer to buy or sell units/shares of Funds mentioned, or a solicitation to purchase securities in any company or investment product. Examples of stocks are provided for general information only to demonstrate our investment philosophy. The investment being promoted is for units in a fund, not directly in the underlying assets.

This information and analysis is believed to be accurate at the time of publication, but is subject to change without notice. Whilst care has been taken in compiling the content, no representation or warranty is given, whether express or implied, by Liontrust as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified.

This is a marketing communication. Before making an investment, you should read the relevant Prospectus and the Key Investor Information Document (KIID) and/or PRIIP/KID, which provide full product details including investment charges and risks. These documents can be obtained, free of charge, from www.liontrust.co.uk or direct from Liontrust. If you are not a professional investor please consult a regulated financial adviser regarding the suitability of such an investment for you and your personal circumstances.