Overview
The Trust, which was established in 1889, aims to exceed the total return on the FTSE All-Share Index and grow its dividend faster than UK inflation. This objective will be assessed over the long term and performance against the FTSE All-Share Index will be measured on a NAV total return basis.
The Liontrust Portfolio Managers construct a high-conviction portfolio of 40 to 50 holdings based on fundamental company research. The team’s flexible investment process delivers a differentiated, diversified portfolio of listed equities.
Key Information
Benchmark Index
FTSE All Share
AIC Sector
IT UK Equity Income
Share Price
793.0p
Net Asset Value per share*
859.7p
Premium/Discount +/- (%)*
-7.755
Historic Dividend per share
28.80p
Historic share price yield
3.6%
Ongoing charges
0.48%
Active Share
68.07%
Gearing (gross)
5.6%
Gearing (net)
4.9%
Holdings
45
*Share Price, NAV and Premium/Discount updated daily. All other data is correct as at 30.06.2025.
Our Investment Process
The investment process is designed to perform through the cycle because the investment team considers the market environment and evolves weightings to growth, value and recovery companies accordingly. The relative performance of the Trust is driven by stock selection.
Pragmatic
The portfolio managers do not have dogmatic style biases, such as growth or value. They also invest in companies that have scope for recovery through management change, business transformation or an improving business environment. Around three-quarters of the managers’ time is spent on in-depth stock research, with the remainder spent on macroeconomic and geopolitical analysis.
Engagement
Our investment process seeks to take account of the significant variables that influence a company’s prospects. Whether these variables be financial, strategic, reputational or have any other feature, our process tracks the most material ones.
Longevity
Investor returns should derive over the long term from a total return comprising both capital appreciation and dividend income. The managers often prefer companies with organic investment opportunities. As such, they normally expect companies with growing profits – and share prices – to continue to generate returns. They view income as an important component rather than the primary driver of investment returns.
Imran Sattar
Portfolio Manager
Imran joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management, where he had managed funds for four years. Before joining Majedie in 2018, Imran was a Managing Director and Fund Manager at Blackrock, where he managed UK equity funds with combined UK equity assets of over £2 billion. Imran joined Mercury Asset Management in 1997 (subsequently acquired by Merrill Lynch, now Blackrock).
He holds a Bachelor of Sciences degree in Mathematics & Economics from the University of Warwick and is a CFA Charterholder.
Emily Barnard
Deputy Portfolio Manager
Emily Barnard is a Fund Manager on the Global Fundamental team. Emily joined Liontrust in April 2022 as part of the acquisition of Majedie Asset Management where she was an Equity Analyst for six years. Prior to joining Majedie in 2016, Emily completed a two year rotational graduate programme at the Wellcome Trust, focusing on equity analysis.
Emily holds a Master of Physics degree in Theoretical Physics from Durham University and is a CFA Charterholder.
Board of Directors
About Liontrust
The Edinburgh Investment Trust is managed by Imran Sattar (Portfolio Manager) and Emily Barnard (Deputy Portfolio Manager) of Liontrust.
Liontrust is a specialist asset management company that takes pride in having a distinct culture and approach to running money. The company launched in 1995 and was listed on the London Stock Exchange in 1999.
Liontrust’s fund managers have the courage of their convictions through their differentiated and rigorous investment processes. Liontrust believes investment processes are key to long-term performance and effective risk control.
Staying true to their documented investment processes helps to create an in-built risk control for fund managers by preventing them from investing in companies and funds for the wrong reasons and helping them to retain clarity of thought.
Liontrust is committed to integrating sustainability throughout the business including being a responsible investor; climate change and the environment; diversity and inclusion; human rights; and being a good corporate citizen. Good governance and stewardship, sustainability and social impact are important in delivering longer-term investment performance.
What is an investment trust?
The first investment trust launched in 1868 and Edinburgh Investment Trust started managing investors’ savings in 1889. This listed structure has stood the test of time because of its differentiated features and attractions from other types of investments.
