Liontrust works in partnership with advisers for the benefit of their clients.
Our Multi-Asset investment proposition and service is designed to enable advisers to provide the highest quality advice and service to their clients. We seek to help advisers achieve their clients’ investment objectives and meet their suitability requirements over the long term. We also help advisers to fulfil their responsibilities under Consumer Duty.
Liontrust achieves these aims through the following distinct partnership and service offering, which we call Actively Different.
There are many ways in which advisers can access the Liontrust Multi-Asset solutions, depending on their clients’ risk profile, return objectives, preference for active and passive investments, growth or income, funds or portfolios.
| Target risk Multi-Asset Funds | Target risk Multi-Asset Funds | |||
|---|---|---|---|---|
| Fund range | Liontrust Risk Profile Range | Risk Mapping | Portfolio range | Liontrust Risk Profile Range |
| Liontrust Multi-Asset Dynamic Passive Funds | 1-7 |
| Liontrust Multi-Asset MPS Dynamic Passive Portfolios | 1-8 |
| Liontrust Multi-Asset Blended Funds | 2-6 | Liontrust Multi-Asset MPS Blended Growth Portfolios | 1-8 | |
| Outcome targeted Funds | ||
|---|---|---|
| Fund range | Fund range | |
| Liontrust Multi-Asset Explorer funds | Risk profiled IA Mixed Investment sectors | 35 Fund to 100 Fund |
| MA Monthly High Income Fund | Risk profiled IA Mixed Investment 0-35% Shares | Monthly income |
In this open letter to clients and investors, James Klempster looks back on 2025 – including the challenge of valuing assets and predicting catalysts for markets – what we might face in 2026 and some of the investment opportunities and challenges ahead. James also outlines the Liontrust Multi-Asset commitment to clients and investors.
Liontrust produces a range of reporting and literature for advisers, which can be white labelled or co-branded.
https://www2.liontrust.com/documents/multi-asset-introduction.pdfhttps://www2.liontrust.com/documents/multi-asset-performance-review-and-outlook.pdfLiontrust also produces a range of client facing literature.
https://www2.liontrust.com/documents/multi-asset-navigating-the-world-of-investment.pdfThe Multi-Asset process is designed to target the outcome expected by investors in terms of their level of risk, as measured by volatility, and maximise the return for each fund and portfolio within the appropriate risk band.
There are five stages to the Liontrust Multi-Asset investment process:
Every stage of this process is actively managed. For example, while the majority of the underlying vehicles within the Dynamic Passive funds and portfolios are passive, the decision as to which ones to include and in what proportions are still active decisions.
Active enhancements are made where we believe this will benefit the management of the funds and portfolios. We enhanced the SAA in 2023 to ensure we could meet the challenges and opportunities posed by our belief that investing over the next few years will be different from the last 15 years. We are facing an unprecedented political environment, including fragmentation of globalisation, which will impact economics and markets.
The Liontrust Multi-Asset team actively engages with the managers of the underlying holdings within their funds and portfolios.
The investment team has extensive experience of Multi-Asset, equity and fixed income investing, with an average of more than 21 years in the industry.
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.
John Husselbee is head of the Multi-Asset team at Liontrust. He is a fund manager and analyst with over 40 years’ experience managing multi-asset, multi-manager funds and portfolios. John leads the investment team, managing a range of target risk funds and portfolios as well as specialist managed investment solutions.
James Klempster is deputy head of Multi-Asset at Liontrust. He is a fund manager and analyst with over 20 years’ investment management experience, of which the past 14 have been focused on managing multi-asset, multi-manager funds and portfolios.
Phil Milburn is head of rates in the Liontrust Multi-Asset team. He joined Liontrust in January 2018 from Kames Capital. Phil had spent over 20 years at Kames Capital, launching one of the market’s first strategic bond funds in 2003 and developing a leading high-yield franchise.
Donald Phillips is head of credit in the Liontrust Multi-Asset team. He joined Liontrust in February 2018 from Baillie Gifford. Previously, Donald had been co-managing the European high-yield strategy at Baillie Gifford since 2010.
Anthony Chemla is a fund manager and analyst in the Liontrust Multi-Asset team. Prior to joining Liontrust in 2023, Anthony managed multi-manager, risk-graded portfolios at Sanlam Investments.
Sharmin Rahman is an investment manager on the Multi-Asset team specialising in fixed income. Sharmin joined Liontrust in August 2022 from AXA Investment Managers where she had been a senior portfolio manager and analyst in the European High Yield team since July 2012
David Salisbury is a fund analyst in the Multi-Asset team, having joined Liontrust in 2022. David was previously an investment manager at 4 Shires Asset management where he looked after private client portfolios.
