Liontrust UK Smaller Companies

Anthony Cross, Co-Manager

Anthony Cross joined Liontrust in 1997 and launched the Liontrust UK Smaller Companies Fund in 1998. Before Liontrust, he began his career at Schroder Investment Management as a graduate trainee, later becoming an equity analyst and joining the Smaller Companies team in 1994. Anthony graduated from Exeter University in 1990 with a degree in Politics.

Julian Fosh, Co-Manager

Julian Fosh joined Liontrust in 2008 from Saracen Fund Managers Ltd to co-manage the Liontrust UK Growth, Special Situations, and UK Smaller Companies Funds with Anthony Cross and to develop the Liontrust Economic Advantage process. From 2004 to 2008, Julian co-managed the Saracen Growth Fund. Prior to this, he headed the investment department at Scottish Friendly Assurance Society Limited, managing various funds, including UK equity OEICs and life and pension funds. Julian's career, which began in 1984, also includes roles at Britannia Investment Managers and Scottish Amicable. He graduated from Merton College, Oxford, in 1984 with an MA in Jurisprudence.

Matthew Tonge, Co-Manager

Matthew Tonge joined Liontrust in 2003 from Barclays Capital Asset Management and became a partner in 2011. He initially focused on trading and was recognized as Mid-Tier Trader of the Year by The Trade magazine in 2014 for his work in mid and small-cap stocks. In September 2015, he transitioned to the Economic Advantage team to research and analyze small-cap companies. Matthew graduated from the University of Birmingham in 2000 with First Class degrees in Manufacturing Engineering (BEng) and Commerce (BCom), earning the Gilbert Walker Prize as the top student in his year.

Victoria Stevens, Co-Manager

Victoria Stevens joined Liontrust's Economic Advantage team in June 2015 as a partner and fund manager, focusing on research and analysis within the small-cap sector. Before this, she spent nearly five years at finnCap Ltd as deputy head of corporate broking. Prior to finnCap, Victoria was a senior reporter and diary editor at City AM. She studied Modern Languages at Oxford University.

Natalie Bell, Co-Manager

Natalie Bell joined the Economic Advantage team as a fund manager in August 2022, moving from the Responsible Capitalism team where she led engagement with investee companies. Prior to joining Liontrust in February 2021, she was at EY for over six years as part of their Corporate Governance team. Natalie was previously an Assistant Director at CBI, promoting the policy interests of a range of businesses across multiple sectors. Natalie graduated from University of Nottingham in 2009 with a degree in Politics.

Alex Game, Co-Manager

Alex joined Liontrust in 2024 as a Fund Manager on the Economic Advantage team. He joined from Unicorn Asset Management, where he spent nearly 10 years and co-managed a range of funds, including two UK equity funds and an AIM portfolio service. Prior to this Alex spent two years at Stanhope Capital as an Associate Consultant. He is a CFA Charterholder and graduated in 2010 from Durham University with a degree in Physics.