Liontrust GF Global Alpha Long Short Fund on Boston Scientific Corporation
Thesis
Liontrust increased exposure to Boston Scientific Corporation as part of an effort to upgrade the quality of its healthcare holdings. The manager favours this group for stronger innovation-driven growth characteristics relative to businesses it reduced or exited. Healthcare also provides exposure outside the AI equipment and infrastructure cycle in the fund's barbell construction. The position is therefore intended to combine long-term innovation with a source of earnings less directly dependent on hyperscaler spending.
“stronger innovation-driven growth characteristics such as Boston Scientific, Dexcom, IQVIA and Intuitive Surgical.”
Key risks
- Rising bond yields can depress equity valuations, especially for longer-duration growth businesses.
- The manager warns that inflation, energy prices and interest rates could quickly dominate equity sentiment if the AI trade weakens.