Liontrust
Liontrust Emerging Markets Fund
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
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What it bought and sold
We increased exposure to selected areas of the Asian technology supply chain, including positions in Realtek and Hon Hai, while retaining significant holdings in TSMC, Samsung Electronics and SK Hynix.
We increased exposure to selected areas of the Asian technology supply chain, including positions in Realtek and Hon Hai, while retaining significant holdings in TSMC, Samsung Electronics and SK Hynix.
We increased exposure to selected areas of the Asian technology supply chain, including positions in Realtek and Hon Hai, while retaining significant holdings in TSMC, Samsung Electronics and SK Hynix.
- TrimmedSao MartinhoJun 2026
This was offset by weaker returns from several earlier winners, including Adecoagro and Sao Martinho, and by relative headwinds in Brazil, Taiwan and Korea.
- TrimmedAdecoagroJun 2026
This was offset by weaker returns from several earlier winners, including Adecoagro and Sao Martinho, and by relative headwinds in Brazil, Taiwan and Korea.
We also increased exposure to India, where domestic capital expenditure, power infrastructure and electrification continue to provide attractive structural opportunities; Hitachi Energy India is one example.
- AddedRealtekJun 2026
We increased exposure to selected areas of the Asian technology supply chain, including positions in Realtek and Hon Hai, while retaining significant holdings in TSMC, Samsung Electronics and SK Hynix.
The Fund participated in the rally in SK Hynix, Samsung Electronics and TSMC; however, the Fund could not fully replicate the benchmark’s concentration, particularly in TSMC, where the position was already close to the practical maximum permitted by the Fund’s 10% security limit.