Fees and Compensation — Form ADV Part 2A (6/28/2023)
[Brochure]
Item 5| fees and compensation
Segregated Accounts
Liontrust’s fees for providing discretionary investment management services for segregated
accounts, vary depending on the type of account, the strategy and the size of the proposed
investment. Fees are typically based upon a percentage of the assets under management of an
account. In some cases Liontrust may also charge performance based fees which are described in
more detail in Item 6 below.
Liontrust will generally bill segregated account clients quarterly in arrears but clients may choose
different arrangements as part of their investment management agreement. Liontrust typically
charges fees in arrears but where a client chooses to pay fees in advance and the account is
terminated part way through a payment period, Liontrust would refund a pro-rated fee amount.
Clients with their own custodian relationships may incur charges imposed by those custodians.
Funds
Clients invested in Liontrust fund vehicles will bear certain fees related to the operation of those
fund vehicles. Such fees are disclosed in the relevant offering documents. For some strategies
foundation fee rates and/or a mechanism incorporating a lower management fee with
accompanying performance fee may be available by agreement.
Liontrust’s fees are exclusive of brokerage commissions and other transaction related costs which
may be incurred by the client.
Other Information
Liontrust does not accept compensation for the sale of securities or other investment products.
Account Minimums and Types of Clients — Form ADV Part 2A (6/28/2023)
[Brochure]
Item 7 | types of clients
Liontrust provides investment advisory services to a range of institutional clients, including
corporate and public pensions plans, endowments, family offices, regulated financial institutions as
well as managing funds available on platforms and model portfolios available via Independent
Financial Advisors.
Segregated Accounts
Segregated accounts managed by Liontrust will typically be invested across asset classes and
geographies. The return objectives and risk profile are determined by discussion between the client
and the portfolio manager and are then detailed in the investment management agreements,
including any restrictions on investing in certain types of securities.
The minimum amount considered for a segregated mandate would typically be $25 million.
Funds
Each fund where Liontrust acts as investment adviser specifies minimum subscription limits and the
subscription and redemption terms applicable. These may vary according to the fund and base
currency of each individual share class. Minimum subscription limits and redemption terms by fund
apply and can be found in the relevant prospectus. Note that many of our funds restrict access to
‘US persons’, please consult the relevant prospectus for more details.
Investments into fund structures will be bound by the investment restrictions and guidelines as set
out in their prospectus and which will align where required with applicable regulation.
Model Portfolios
Liontrust offers a number of investment strategies that operate on a model basis. Clients can choose
a strategy that will generally be managed in line with the model portfolio of that strategy whilst also
allowing for a degree of flexibility for the client to set their own investment restrictions and
guidelines. Certain client driven investment restrictions that lead to a difference from the model
portfolio of the strategy may result in that client portfolio performing differently to the model and in
some cases this performance may be inferior to that of the model portfolio or other accounts with
similar investment strategies but with different investment restrictions and guidelines.
Firm Brochure
SEC Form ADV (Part 2A)