LF Montanaro UK Income Fund
The Fund aims to achieve growth in income and capital over any five-year period by investing at least 60% of its assets in the shares of small and medium sized UK companies that have a maximum market capitalisation of £10 billion.
The full investment objective and policy for the Fund is stated in the Fund’s prospectus.

Why Small & MidCap for income?
We believe that every investment portfolio should have some exposure to SmallCap, primarily owing to:
- The ‘SmallCap Effect’ – the proven long-term outperformance of smaller and mid-sized companies versus their LargeCap peers*
- Higher dividend growth relative to LargeCap
- Huge choice of companies - many family-owned businesses
- Under-researched, making for an inefficient market ripe with opportunity for those who invest in thorough analysis
- Portfolio diversification - helping to lower portfolio risk
*Source: see research from Dimson & Marsh
The full investment objective and policy for the Fund is stated in the Fund’s prospectus.
How we invest
Our investment process has remained unchanged for many years:
- We invest exclusively in “Quality Growth” companies
- We generate new ideas ourselves (no brokers)
- We do thorough research ourselves, which includes detailed analysis and company site visits
- We integrate ESG fully into company analysis
- We take a conservative approach to valuation
Ratings
The Fund has been rated by RSMR
Fund documents
Factsheets
Prospectus
Additional Investor Information Document
Coverall Renunciation and Transfer of Title
ESG Handbook
Historical Fund Changes
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