Liontrust Sustainable Future European Growth Fund Class 2 Net Accumulation

European Equities

New for 2020. A solid European growth fund with a strong ethical ethos    

This fund is a constituent of interactive investor’s ACE 30 list of ethical fund tips and a good core choice for ethical investors. In fact, on the basis that well-run, socially responsible companies make for good investments per se, it is a solid choice for any investor looking for exposure to European equities.

Peter Michaelis, head of sustainable investments at Liontrust, has managed this fund since 2001. He was joined by co-manager Neil Brown in 2011 and Martyn Jones in 2019. They seek to generate strong returns while benefiting society. They believe that in a fast-changing world, the companies that will survive and thrive are those that improve people’s quality of life, be it through medical, technological or educational advances; drive improvements in the efficiency with which we use increasingly scarce resources; and help build a more stable, resilient and prosperous economy.

Their thematic approach starts with identifying key structural growth trends that will shape the global economy. The team invests in three transformative trends: better resource efficiency, improved health, and greater safety and resilience – and 20 themes within these trends. The high-quality, well-managed companies in the portfolio capitalise on these transformative changes. The portfolio held 43 stocks at the end of 2019 and was well-diversified across continental European countries and sectors.

Narrative and ratings content all as of January 2020.

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Liontrust Sustainable Future European Growth Fund Class 2 Net Accumulation
Liontrust Fund Partners LLP
Open Ended Investment Company
Europe Excluding UK
0.91 %
Risk Rating
3 Year Sharpe
3 Year Alpha
1.2 %
The Fund aims for long term capital appreciation. It may invest in any of the following financial instruments in order to achieve its investment objective: transferable securities, money-market instruments, units in collective investment schemes, deposits and derivatives and forward transactions.
Holding %
Roche Holding AG Dividend Right Cert. 6.49 %
ASML Holding NV 5.52 %
SAP SE 5.10 %
Cellnex Telecom SA 4.84 %
Unilever NV 4.25 %
Grifols SA A 3.86 %
DNB ASA 3.67 %
Lonza Group Ltd 3.61 %
Kingspan Group PLC 3.52 %
Air Liquide SA 3.31 %
Region %
Eurozone 63.14 %
Europe - ex Euro 30.81 %
United Kingdom 6.05 %
Sector %
Financial Services 17.53 %
Technology 15.34 %
Industrials 15.05 %
Healthcare 14.56 %
Consumer Cyclical 11.49 %
Consumer Defensive 8.04 %
Basic materials 7.78 %
Communication Services 6.01 %
Liontrust Fund Partners LLP
NULL, London, United Kingdom
Legal Structure
Open Ended Investment Company


Neil Brown
Joined 04/01/2011

Neil Brown joined Liontrust in 2017 after spending five years at Alliance Trust Investments as investment manager on the European funds, before being promoted to lead fund manager on them at Aviva Investors in 2011. Prior to Aviva, he was at Threadneedle Asset Management where he combined the roles of Pan European Equity Analyst and Head of Governance and Responsible Investment. Neil is lead fund manager on the SF European Growth OEIC and SF Pan European SICAV. He is co-fund manager on the SF UK Growth and UK Ethical funds. A frequent guest host on CNBC Squawk box, Neil is also the immediate past Chair of the Investment Integration Working Group, a member of the Listed Equity Advisory Committee and a member of the Sustainable Development Goals in Active Ownership Management Working Group of the UN Principles for Responsible Investment. Neil has an MSc in Development Economics from the School of Oriental & African Studies and a BA (Hons) in Economics from the University of Manchester.

Peter Michaelis
Joined 02/19/2001

Peter Michaelis transferred to Liontrust in April 2017. Beforehand he was Head of Investment at Alliance Trust Investments. In 2001, he joined Aviva Investors, where he was promoted to Head of Sustainable and Responsible Investment in 2005. Peter has been lead fund manager on both the Sustainable Future (SF) Managed and SF UK Growth funds since April 2005, and the UK Ethical fund since May 2001. He is co-fund manager on SF Pan European, SF European Growth, SF Global and SF Absolute Growth funds. Peter is also responsible for managing the relationship with the Advisory Committee. Peter holds an MA in Physics from Oxford University, an MSc in Energy & Environmental Engineering and a PhD in Environmental Economics.

Data provided by Morningstar.

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