Smith & Williamson Investment Management has re-balanced its core range of managed portfolios, removing Liontrust Special Situations from five of its models as it rebalances its core portfolio range.

Liontrust Special Situations was sold despite having performed “relatively well” since it was added to the core range of model portfolios in December 2019.

“Our decision to reallocate is mainly down to wanting to focus our list of UK equity funds,” said James Burns, co-head of Smith & Williamson Investment Management’s Managed Portfolio Service.

The proceeds have been reinvested in several existi...