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FundCalibre - Investing on the go

Investing on the go gives you direct access to the people who manage your ISA and pensions savings. Our hosts will be interviewing finance professionals on everything from their successes and failures to current ideas and insights. At meetings, before events and even if we bump into them on the street, we'll grab five minutes with these experts to discuss how your own personal finances could be impacted by topics such as US elections, the move from petrol to electric vehicles, the growth in artificial intelligence and robots, and so much more. Our ultimate goal is to bring to life...

Business Investing

Episodes

September 11, 2024 6:00pm

330. The art of long-term investing

In this episode, we’re focusing on the Capital Group New Perspective strategy which has consistently outperformed global equity markets over its 50+ year history. Investment director, Steve Smith, explains how the strategy’s structural flexibility and focus on multinational companies have driven its success across various market environments. We explore current market views, including inflation, economic growth, and the emerging trends that are shaping the future of global equity markets. Additionally, we cover the strategy's unique approach to balancing innovation with stability, making it a reliable core investment for long-term portfolios.

What’s covered in thi...

September 04, 2024 6:00pm

329. Contrarian investing in Asia: hidden opportunities in China and Korea

We explore a differentiated strategy, Federated Hermes Asia ex Japan Equity, focusing on undervalued opportunities across various market sectors. Investment director, James Cook, shares insights into contrarian investing, explaining how their approach differs by embracing both high and low-quality companies, depending on value. We discuss significant market dynamics in China and South Korea, touching on the potential catalysts for growth, the impact of geopolitical tensions, and the evolving corporate governance landscape.

What’s covered in this episode:
What makes Federated Hermes Asia ex Japan Equity different? The fund’s contrarian approach to the regionIs China...

August 28, 2024 6:00pm

328. Investment goldmine: capitalising on the demand for essential metals

Evy Hambro, co-manager of the BlackRock World Mining Trust, shares his strategies behind investing in the commodity sector, emphasising the critical roles of metals like copper and gold in today's economy. The interview explores how supply constraints, demand fluctuations, and macroeconomic trends impact investment decisions alongside key themes such as digital transformation, AI, and the energy transition. Evy provides insights into the balance between profitability and risk, and offers a forward-looking perspective on opportunities in the mining sector.

What’s covered in this episode:
What does this trust invest in?Balancing the supply and dem...

August 21, 2024 6:00pm

327. Japan’s hidden investment gems: opportunities beyond the yen

Explore the current state of the Japanese market and its future potential with Richard Kaye, co-manager of the Comgest Growth Japan fund, who discusses how recent currency volatility is shaping investor sentiment and what lies ahead for Japan's economy. We highlight the undervalued opportunities that exist within Japan, including hidden gems in sectors like technology and renewable energy. The episode also touches on corporate reforms, foreign investment, and the role of domestic investors in Japan's evolving landscape. With a fresh perspective on growth opportunities and market dynamics, this episode offers a comprehensive look at why Japan may be the...

August 14, 2024 6:00pm

326. High yield bonds: risks and rewards in today’s market

Mark Benbow, co-manager of the Aegon High Yield Bond fund, explains the evolving high yield bond market in this episode. Mark delves into the history and growth of the asset class, current market conditions, and the dual lenses through which investors can evaluate high yield opportunities. The discussion also covers how high yield bonds perform in volatile environments, where the best opportunities lie, and how these bonds can play a vital role in a diversified portfolio, particularly in the context of today's rising interest rates.

What’s covered in this episode:
History of...

August 07, 2024 6:00pm

325. Why the traditional 60/40 portfolio is the lazy approach

In this episode, we look at the unique strategies behind the recently launched Schroder Global Multi-Asset Cautious Portfolio, with co-manager Philip Chandler. We explore how the fund maintains an exceptionally low cost of 22 basis points while leveraging dynamic asset allocation and a broad array of investment tools. Philip provides an insightful analysis of the current economic landscape, discussing the impacts of inflation, geopolitical turmoil, and the evolving role of equities and bonds in a balanced portfolio. He also outlines the innovative approaches Schroders takes in portfolio construction and the benefits of internal management and proprietary tools in achieving optimal...

July 24, 2024 6:00pm

324. Diversification potential from robotics to digital payments

Discover the complexities of Japan’s investment landscape with Karen See, co-manager of the Baillie Gifford Japanese Income Growth fund, as we discuss the market's oscillation between growth and value stocks, the impact of the weakening yen, and the Tokyo Stock Exchange’s recent corporate governance reforms. Karen offers insightful commentary on the implications for her fund and highlights the emerging opportunities in Japan’s evolving market, from automation and robotics to the accelerating digitalisation trend.
What’s covered in this episode:
The rotation from value and growth in JapanThe impact of the weak yenHow co...

July 18, 2024 4:00am

323. Navigating inflation and interest rates

Richard ‘Dickie’ Hodges, manager of the Nomura Global Dynamic Bond fund, gives his predictions on UK, US and European inflation and potential interest rate cuts. He emphasises the current opportunities and strategies for generating positive returns in the fund, highlighting deeply subordinated bank debt (AT1s) as one of the best-performing asset classes. He also outlines a hedging strategy to protect against a potential hard landing and political uncertainties, which helps mitigate risks without significantly reducing income. We finish with Dickie’s views for the second half of 2024.
What’s covered in this episode:
What’s yo...

July 10, 2024 6:00pm

322. How to maximise returns with high yield investing

Rhys Davies, manager of the newly Elite Rated Invesco Bond Income Plus Limited (BIPS), discusses the origins, goals, and strategies of BIPS. Rhys explains how BIPS focuses on generating high income primarily from the high-yield bond market and highlights the advantages of a closed-ended vehicle for this strategy. We also cover the nuances of subordinated bonds and corporate hybrids, the diversification and sectoral spread of the portfolio, and how the trust leverages opportunities in the high-yield bond market, especially during inflationary times.

What’s covered in this episode:
The origins of the Invesco Bond In...

July 03, 2024 6:00pm

321. The hidden opportunities in today’s metal market

Georges Lequime, co-manager of the WS Amati Strategic Metals fund, gives an update on the current trends in the strategic metals market, particularly focusing on gold and silver. We also look at the broader metals market, emphasising the lengthy lead times for mining projects and the sector's need for capital investment. Georges tells us why he’s predicting a strong future for metals, and lithium's growing importance in energy storage and electric vehicles.

What’s covered in this episode:
Gold equities versus the gold spotValuation in gold minersToday’s opportunities in silver miners What’s more exc...

June 28, 2024 6:00pm

320. Navigating 2024 and the UK small-cap surge

In our latest market update, Darius McDermott and Juliet Schooling Latter start with a review of the notable boost in UK smaller companies, which have outperformed global equities. The conversation also covers the poor performance of fixed income sectors, Latin America's continued struggles and India's robust market driven by IPO booms. Global elections, geopolitical tensions and their impact on markets are examined, with a particular focus on the ongoing conflicts and their implications for investors. The update concludes with insights on the upcoming UK elections and a forward-looking outlook for the second half of 2024, emphasising the importance of interest...

June 26, 2024 6:00pm

319. Megatrends, AI supercycle and the future of investing

Zehrid ‘Zed’ Osmani, manager of the Martin Currie Global Portfolio Trust, elaborates on his three-step investment process that ensures only the most promising companies make it into the portfolio, before diving into the significant themes driving this strategy, including demographic changes, future technology, and resource scarcity. Additionally, Zed provides insights into the valuations of industry giants Nvidia and Mastercard, and touches on the implications of interest rate changes on quality growth companies.
What’s covered in this episode:
Three-step process to building a high-conviction portfolioThe trust’s valuation frameworkThe three megatrends targeted in this trust The...

June 19, 2024 6:00pm

318. Uncovering the secrets to consistent market outperformance

Michele Ward shares the secrets behind the impressive performance of the T. Rowe Price US Smaller Companies Equity fund, which has outperformed its benchmark over 1, 3, 5, and 10 years. We explore the fund's philosophy of investing in high-quality companies, letting winners run, and maintaining a balanced approach between growth and value. We also discuss the impact of interest rates on small-cap companies and highlight some unique and diverse investments within the portfolio.
What’s covered in this episode:
The secret to continued outperformanceThe ability to “run winners”…and how that’s impacted the portfolioThe company that went from $4...

June 12, 2024 6:00pm

317. 20 years of innovation: from healthcare to semiconductors

Dr. Ian Mortimer, manager of the Guinness Global Innovators fund, discusses the fund’s focus on investing in quality growth companies that are exposed to long-term secular growth themes, rather than early-stage startups. He outlines the fund's nine core themes and explains why a significant part of their strategy involves semiconductor companies, which play a crucial role across various themes. He further explains their balanced approach to managing holdings, emphasising long-term investments and systematic trimming of large positions, like Nvidia, to manage risk.

What’s covered in this episode:
How do you define “innovation” What theme...

June 05, 2024 6:00pm

316. Why quality brands are worth the wait

In this episode, we explore the intricacies of the Elite Rated Morgan Stanley Global Brands fund. Candida de Silva, portfolio specialist on the fund, provides insights into their strategy of holding high-quality companies with defendable, visible future earnings, emphasising the long-term ownership of these businesses. We discuss the selection of companies, their competitive advantages, and how they adapt to evolving market dynamics while maintaining robust growth.
What’s covered in this episode:
“We don't rent stocks, we own businesses for the long term”How the portfolio evolves over timeThe growing popularity of healthcare in the por...

May 30, 2024 6:00pm

315. From murky markets to the stock apocalypse

Alec Cutler, manager of the Orbis Global Balanced fund, discusses the shifting market environment, often referred to as the "four horsemen of the stock apocalypse," and how he navigates through these turbulent times. He provides insights into his contrarian investment approach, thriving in the current murky conditions to identify and capitalise on undervalued opportunities. Explore Alec's perspectives on global markets, specific investment opportunities in the UK and Japan, and the broader implications of trends such as AI and ESG investing.
What’s covered in this episode:
Why “the sun is setting on Venus” Thriving in a mur...

May 29, 2024 6:00pm

314. Connecting the world: digital infrastructure's role in the AI era

Tom Walker, manager of the Schroder Digital Infrastructure fund, explore the burgeoning sector of digital infrastructure in this episode. He discusses how advancements, particularly in artificial intelligence (AI), have significantly amplified the demand for digital infrastructure. He also outlines the portfolio's composition, emphasising data centres, mobile towers, and fibre networks. Despite challenges like rising interest rates and material costs, Tom highlights that the sector's long-term outlook remains strong due to increasing global connectivity needs sharing two specific stocks that are well-positioned to benefit.

What’s covered in this episode:
What’s the outlook for digit...

May 22, 2024 6:00pm

313. Investing in India's future: manufacturing, digitalisation, and market valuations

Mithran Sudhir, client portfolio manager of the Goldman Sachs India Equity Portfolio fund, explores the potential implications of Prime Minister Modi’s anticipated third term on Indian equities. We discuss the ongoing reforms in India's dynamic market, including the 'Make in India' initiative aimed at boosting the manufacturing sector and attracting foreign investment. This episode provides a comprehensive overview of the current state and future outlook of Indian equities, offering valuable insights for investors, while also addressing concerns about market valuations
What’s covered in this episode:
How do the Indian elections impact markets?What...

May 15, 2024 6:00pm

312. Waiting for the penny to drop on UK smaller companies

David Stevenson, co-manager of the WS Amati UK Listed Smaller Companies fund, discusses the current market dynamics and the outlook for UK smaller companies, despite a challenging two-year period marked by receding investor appetite and outflows from small-cap funds. David argues now is a unique entry point for UK smaller company investing, buoyed by recent improvements in relative performance and the potential benefits of lower interest rates. We also cover the surge in M&A activity and share buybacks, underscoring the attractiveness of UK companies for both domestic and international investors.
What’s covered in this ep...

May 08, 2024 6:00pm

311. The AI frontier and today’s investment opportunities

Discover the world of artificial intelligence (AI) with Chris Ford, manager of Sanlam Global Artificial Intelligence. With AI dominating conversations globally, Chris sheds light on its evolution and current state. He reflects on the unprecedented advancements in natural language processing and generation, epitomised by technologies like ChatGPT, and the pivotal role they play in reshaping various industries. He also provides insights into the investment landscape, highlighting the diverse range of companies harnessing AI and the importance of valuation discipline.

What’s covered in this episode:
How AI has evolved over the past decadeThe launch of...

May 01, 2024 6:00pm

310. Investment strategies for uncertain times

David Coombs, manager of Rathbone Strategic Growth Portfolio, explains the funds LED (liquidity, equity risk and diversifiers) framework and gives an overview of all areas of the portfolio today and the fund’s positioning. From dissecting geopolitical influences to analysing sectors like defence, MedTech, and retail, David provides valuable insights into the thought process behind managing a diversified multi-asset portfolio in today’s market.

What’s covered in this episode:
What is the LED framework?What’s your view on inflation at the moment?How has the fund’s positioning changed to combat persistent inflation?W...

April 24, 2024 6:00pm

309. The three keys to investing success

The IFSL Wise Multi-Asset Growth fund has weathered various market storms since launch 20 years ago. We explore the challenges of navigating volatile markets, particularly amidst events like Brexit and the Covid-19 pandemic, with co-manager Vincent Ropers. Despite the noise, he finds solace in the abundance of value opportunities for patient investors, highlighting sectors like investment trusts, private equity, biotechnology, and UK equities in this interview.
What’s covered in this episode:
How market noise impacts fund managementBalancing investment sentiment with investment decisions The benefits of investment trustsRecent challenges within the investment trust sectorHow the fund...

April 17, 2024 6:00pm

308. Navigating market highs around the globe: insights from Q1 2024

Darius McDermott and Juliet Schooling Latter are back for a comprehensive quarterly market update. Reflecting on the first quarter of 2024, they delve into various regions and sectors that experienced notable highs. We also discuss the potential for economic recovery in Europe, China's struggle to regain momentum post-Covid and speculation surrounding interest rate cuts by the Federal Reserve.
What’s covered in this episode:
All-time highs for the S&P 500Should investors continue to back technology?The US inverted yield curve (and what it means)What’s driving success in JapanWhat a weak yen means for r...

March 27, 2024 7:00pm

307. The complexity of gold and its all-time high price

Manager of Jupiter Gold & Silver, Ned Naylor-Leyland, looks into the current dynamics affecting the gold market amidst conflicting factors like geopolitical tensions and interest rates. He provides insights into the intricate nature of gold pricing across different currencies, the recent breakout in the gold price including the flow dynamics in the market. Throughout the episode, Ned offers nuanced perspectives on investment strategies and market behaviour, underlining the importance of diversification and strategic positioning in precious metals portfolios.

What’s covered in this episode:
What’s the current positioning for gold?How does geopolitics influence the...

March 20, 2024 7:00pm

306. The secrets to long term outperformance in US equities

Maneesh Bajaj, manager of the Brown Advisory US Flexible Equity fund, shares insights into the fund's philosophy and flexible approach, attributing its long term success. We cover a whistle stop tour of US headlines including the Magnificent Seven, including both Microsoft and Alphabet, the growing role of artificial intelligence across industries, a US election year and two significant sectors for the portfolio: financials and healthcare.
What’s covered in this episode:
The fund’s outperformance over 1, 5 and 10 yearsThe concentration of the US marketThe long term investment case for MicrosoftThe investment appeal of AlphabetManaging the growth...

March 14, 2024 10:00am

305. Why Britain is back in business

In a special “Spring Budget” feature we’re joined by four fund managers and our very own research director, Juliet Schooling Latter, to take a closer look at UK equities. We discuss what the British ISA could mean for the UK market but, most importantly, what else still needs to be done to improve sentiment and encourage global investors to return. The managers also share where they’re finding the best opportunities in today's significantly devalued environment.
Our fund manager guests (in order of appearance) include Matthew Tonge, co-manager of Liontrust Special Situations, UK Smaller Companies and UK Micro...

March 06, 2024 6:00pm

304. Navigating growth in America and the impact of AI

Ben James, investment specialist director on Baillie Gifford American, gives insights into why the U.S. remains a prime location for growth investors, highlighting its innovation, deep talent pool, and unique cultural optimism. A significant portion of the podcast is dedicated to the transformative power of Artificial Intelligence (AI) in the investment landscape. Ben shares the team's perspective on AI as a new technology paradigm, its potential implications, and the specific companies in their portfolio benefiting from this disruptive force. The discussion spans AI applications in various sectors, from healthcare to cloud computing, providing listeners with a comprehensive view...

February 28, 2024 6:00pm

303. Energising portfolios: investing in clean energy income strategies

Will Argent, investment advisor to the VT Gravis Clean Energy Income fund, explores the distinctive features that set this fund apart and provides insights into the resilience of renewable energy assets through economic cycles. We also discuss the challenges faced by energy storage and battery trusts, the compelling valuations in the current market and how power prices influence opportunities and the fund's role in delivering a regular income for investors.
What’s covered in this episode:
How the fund differs from others in the IA Infrastructure sectorWhy investment trusts suffered recentlyWill we see a bou...

February 21, 2024 6:00pm

302. The “once in a generation opportunity” in the UK market

This episode focuses on the UK market, highlighting the current generational opportunity and overall optimism despite recent challenges. Simon Murphy, manager of the VT Tyndall Unconstrained UK Income fund, shares insights into the fund's emphasis on mid-cap investments, citing attractive valuations resulting from years of negative sentiment. Simon also discusses the challenges faced during his takeover of the fund in February 2020 and concludes with reflections on the UK market, addressing perceptions versus reality and potential catalysts for positive market movement.
What’s covered in this episode:
The fund’s recent name changeWhy mid-caps make up th...

February 14, 2024 6:00pm

301. The opportunities and challenges of AI

Dave Dudding, manager of the CT Global Focus fund, discusses the S&P 500 reaching 5,000 for the first time and various aspects of the current economic landscape, such as supply chain dynamics, inflation, and the impact of artificial intelligence (AI) on the market. Dave shares insights into specific holdings in the portfolio, including Nvidia, Microsoft, and companies in the pharmaceutical and energy transition sectors. The conversation also covers the opportunities and challenges presented by AI, the growth potential of Asian consumers, and the fund's stance on China and India.

What’s covered in this episode:
Wha...

February 07, 2024 6:00pm

300. Unique opportunities await in UK equities

The VT Downing Unique Opportunities fund has a focus on small and mid-cap companies. Manager Rosemary Banyard covers the challenges faced by smaller companies, changing sentiment, and political influences on the AIM market during this interview. We also explore the impact of M&A activities on the fund's portfolio and turnover. We finish with a case study illustrating the concept of long-term compounding success and the fund's criteria for investing in companies with sustainable moats.
What’s covered in this episode:
What portion of the fund is currently in small and mid-caps?Is sentiment imp...

February 01, 2024 2:00am

299. Expert insights into the FTSE 250

Chris St John, manager of the AXA Framlington UK Mid Cap fund, walks us through the FTSE 250, providing insights into its composition, changes, and dynamics of the mid cap index. We cover the diversity within the index, sectoral makeup and international exposure and well as the potential for M&A activities in 2024. Chris explains why the FTSE 250 is more sensitive to UK economic factors like interest rates and employment levels versus the FTSE 100 and addresses the performance disparities between the two indices.
What’s covered in this episode:
What type of companies make up the...

January 24, 2024 6:00pm

298. Why Japan is due for a review of investor perception

Richard Kaye, manager of Comgest Growth Japan, covers a range of topics relevant to investors today, beginning with insights into ongoing reforms at the Tokyo Stock Exchange, emphasising the need for genuine change driven from within companies.The discussion then shifts to the inflation outlook for 2024, the irregularity of the yen's situation and what these two things mean for foreign investors. Richard explains why the fund has roughly 20% in semiconductors and concludes with reflections on the Nikkei's success, foreseeing continued momentum into 2024.
What’s covered in this episode:
What are the Tokyo Stock Exchange ref...

January 17, 2024 6:00pm

297. From Goldilocks to recession: the polarising outlook for 2024

James Mee, co-head of multi-asset strategies and manager of the Waverton Multi-Asset Income fund, dives into the current economic landscape, exploring the likelihood of a recession and the factors influencing global markets. Giving an update on fund positioning and allocation across equities, fixed income, and alternative investments we touch on technology, Europe, inflation, interest rates and real assets in the portfolio. Out discussion concludes with a discussion on the role of cash in the current environment and the impact of de-globalisation on investment decisions.

What’s covered in this episode:
How likely is recession thi...

January 10, 2024 6:00pm

296. 2024 investment outlook: unpacking the past, predicting the future

Darius McDermott and Juliet Schooling Latter return for a comprehensive quarterly market update reflecting on key moments from the last year, particularly focusing on the dominant themes of inflation, interest rates, and technology. Darius and Juliet share insights on the unexpected resilience of markets amid interest rate hikes and discuss notable events from the collapse of SVB and Credit Suisse to the surge in the "Magnificent Seven” stocks.
Looking forward to 2024, we examine potential investment opportunities and discuss whether the momentum in AI-related sectors, especially technology, will continue. They share their perspectives on global regions such as In...

December 20, 2023 6:00pm

295. Recession, rates and rebalancing – predicting the fixed income landscape in 2024

Fixed income yields are at a “once in a generation opportunity” according to Alex Pelteshki, co-manager of Aegon Strategic Bond. Alex provides us with a comprehensive overview on the peaking of rates and yields, emphasising the impact of already tight monetary policies across major markets. Alex also highlights the fund's flexible approach, focusing on opportunities in government bonds and the high yield market. The interview concludes with the question of recession in 2024, offering a nuanced perspective on the economic conditions in Europe and the UK and how the fund is positioned as a response.
What’s covered...

December 13, 2023 6:00pm

294. Why the big tech names can continue to outperform in 2024

Simon Nichols, manager of BNY Mellon Multi-Asset Balanced, explains why he believes the world’s leading technology firms can continue to deliver strong performance heading into 2024. Simon also explains the fund’s thematic approach, and how it helps identify companies tapping into major themes, like de-globalisation and aging populations, to micro-themes like advancements in semiconductor technology.
Simon also highlights his preference for government bonds and explains how uncertainties surrounding interest rates, economic growth, and inflation impact his economic outlook going into 2024 – and where he believes there will be opportunities.
What’s covered in this episode...

December 06, 2023 6:00pm

293. Navigating complexity: ESG and Human Rights

Dr. Paul Jourdan, CEO of Amati Global Investors, explores the unique ESGH approach employed by Amati, shedding light on the importance of adding the "H" for Human Rights to ESG, emphasising its significance as a separate category of investment risk. Drawing on experiences over 25 years, he discusses the blind spots in the investment community regarding human rights abuses in supply chains and their far-reaching consequences.
To mark Human Rights Day on the 10th of December, the discussion delves into the profound impact of human rights, particularly in international trading of commodities like oil and gas. Paul highlights...

November 30, 2023 6:00pm

292. Trends, risks and opportunities in global bonds

This episode covers the interesting dynamics of the past year, including varying economic forecasts, the impact of hiking cycles, and the phases of higher yields in developed markets. Eva Sun-Wai, fund manager on the M&G Global Macro Bond fund, provides insights into the three phases of higher yields, touches on the unique features of the US mortgage market and shares her views on the "higher for longer" narrative, expressing a slightly more cautious stance and anticipating a potential hard landing or recession.
The conversation also examines the portfolio's positioning, touching on themes such as de-risking, duration...

November 29, 2023 6:00pm

291. Why investors should keep a keen eye on UK equities in 2024

Alexandra Jackson, manager of Rathbone UK Opportunities, discusses the challenges faced by the UK equities market, examining the impact of global events, rising bond yields, and third-quarter results on investor sentiment. Alexandra provides a nuanced perspective on the housing market, particularly focusing on Rightmove's resilience amid competition. Alexandra shares her views on the UK's economic fundamentals, valuations, and why investors should keep a keen eye on the market in 2024.
What’s covered in this episode:
Poor performance of the FTSE 250 in OctoberDo high interest costs affect holdings?The importance of cash on a company’s bal...

November 22, 2023 6:00pm

290. Defensive plays: how to thrive in a market full of surprises

Dillon Lancaster, co-manager of the TwentyFour Dynamic Bond fund, talks us through the current push and pull factors in the bond market, focusing on the team's strategic moves in response to the central banks' aggressive rate hikes over the past 18 months. We discuss why the team has been favouring government and investment grade bonds, their views on the likelihood of a recession and use of European AT1s and European CLOs in the portfolio. We also discuss the likelihood of recession in 2024 and whether defaults are set to rise.
What’s covered in this episode:
T...

November 15, 2023 6:00pm

289. “It’s not the cycle you’re in that matters, it’s the starting point"

Bob Kaynor, manager of the Schroder US Mid Cap fund, digs deeper into the US economy. We touch on the ‘Magnificent Seven’ and how they shed light on a wider issue: can the level of concentration in the S&P 500 continue? Or is the AI bubble set to bust? We navigate through the unique challenges posed by student debt, higher interest rates, the US consumer, the employment cycle and the potential impact of upcoming global elections on the market. Bob rounds out the episode by giving his insights into the small- and mid-cap area of the market offering a glim...

November 08, 2023 6:00pm

288. Virus resistant pigs, Amazon TV deals and why the UK is so compelling

Murray Income manager Charles Luke highlights a trio of reasons why the UK market looks compelling at present, while also discussing the importance of focusing on quality companies when there is so much noise. We delve deeper into some of the companies in his portfolio, including a genetics company working on virus resistant pigs and a familiar FTSE 250 name that is set to benefit from an Amazon film and TV series. We also discuss the benefits of a strategy combining quality and income and why having some international exposure is important for the trust.
What’s co...

November 01, 2023 7:00pm

287. The ‘Cashflow Champions’ of Europe

Samantha Gleave, co-manager of Liontrust European Dynamic, discusses the fund's investment process, including how a company can qualify for its 'cashflow champions' watch list. The interview also touches on the importance of the macroeconomic environment, concerns related to energy prices, the impact of recession in Germany and why the fund is tilting towards value. She concludes with a balanced outlook on European equities, while also highlighting opportunities at the stock level in names likes Novo Nordisk, Inditex and Partners Group.
What’s covered in this episode:
What is the Cashflow Solutions process?Why the fund...

October 30, 2023 7:00pm

286. Will 2024 be the year of the polarised recession?

Dr. Niall O’Connor, manager of SVS Brooks Macdonald Defensive Capital, gives a comprehensive overview of the financial landscape for investors, including the role of inflation, interest rates, asset valuations across various markets and, ultimately, where there may be opportunities. We delve into the dynamics of investment trusts - including the substantial discounts some are trading at - with Niall highlighting the potential for mergers and acquisitions in this space. We finish with Niall giving his outlook for 2024 and the polarised nature of a potential recession in the UK.
What’s covered in this episode:
Will...

October 25, 2023 6:00pm

285. Demographics, automation, and AI: Japan's complex landscape

Sophia Li, manager of FSSA Japan Focus, joins us to discuss the driving forces behind the strong performance of the Japanese stock market in 2023. We delve into the influence of foreign investors - particularly Warren Buffet - on the Japanese market and whether their growing confidence should serve a positive indicator for long-term investors. We discuss the consequences of Japan's aging population on the economy and how the impact of this varies for different companies. Sophia also shares insights on the adoption of cashless payments in Japan, as well as its strengths in robotics, automation, and AI and how...

October 18, 2023 6:00pm

284. Investment opportunities amid changing economic landscapes

Darius McDermott and Juliet Schooling Latter return to discuss the fallout from an incredibly busy third quarter of 2023. The duo discuss whether interest rates have peaked, how inflation is evolving, and why the uncertainty in markets leaves them open to a number of very different economic scenarios. They also touch upon recent political developments, such as the UK's shift on net-zero goals, and how these changes might affect investors.

We explore the performance of various investment sectors, such as Indian equities, commodities, and high-yield bonds, as well as the struggles faced by infrastructure, index-linked gilts, and European...

October 11, 2023 6:00pm

283. Rolling with the punches in the face of uncertain inflation

In this interview, Richard Parfect, co-manager of the VT Momentum Diversified Income fund, gives an overview of where he believes the opportunities in the market lie today, highlighting high yield, emerging market debt and specialist assets. We then shift to a broader discussion around inflation and how that impacts the fund’s inflation target of CPI plus 5%. Finally, the conversation touches on a critical issue within the investment trust industry – the inclusion of investment company costs in the reported costs of funds. Richard expresses concerns about this practice, as it can create an uneven playing field for fund comparisons and...

October 04, 2023 6:00pm

282. How value investing and sustainability can be good bedfellows

Will Lough, manager of R&M Global Sustainable Opportunities, tells us more about the newly launched fund. We touch on the coexistence of value investing and sustainability, emphasising the importance of defining these concepts broadly rather than in narrow terms. Will explains how sustainability is evaluated through three pillars: people, innovation, and the environment, with varying importance depending on the business model. In the second half of the interview we cover global smaller companies and Japanese equities as a current focus for the fund, highlighting two examples: Nikon and Baker Hughes.
What’s covered in this epi...

October 02, 2023 9:00am

281. Navigating changing demographics through impact investing

The world's population is projected to become more urbanised, with 68% living in cities by 2050, according to our guests Kate Hewitt and Harriet Topham, ESG and Impact specialists at Montanaro Asset Management. We dive into this theme of the built environment, changing demographics and urbanisation's impact on investments. Harriet illustrates the point with examples from the Montanaro Better World fund such as Marshalls, Bentley Systems, and Sdiptech. The discussion ends with the importance of achieving net zero targets by 2050 and Montanaro's role in the sustainability journey of smaller companies.
What’s covered in this episode:
Wha...

September 29, 2023 6:00pm

280. Seven fund managers, just ten minutes, what would you ask them?

In this special bonus episode to mark ‘International Podcast Day’, the focus is on a unique FundCalibre event - fund manager speed dating. Seven journalists had the opportunity to interview seven fund managers in a fast-paced setting, delving into their views and investment philosophies. The team at FundCalibre also took the opportunity to find out more about the managers and this episode features highlights offering insights into how they found their way into the industry all the way through to their words of wisdom for the next generation of investors. This episode provides a glimpse into the personal and prof...

September 28, 2023 6:00pm

279. Why “sin stocks” aren’t inherently bad

We touch on the UK stock market’s up and downs with Alessandro Dicorrado, co-manager of the Ninety One UK Special Situations fund, who questions whether recent performance has been driven by sentiment or the overall challenges faced by UK companies today. Alessandro emphasises the team's focus on contrarian investing as we look closer at the fund’s composition.
This interview also covers “sin stocks” such as tobacco and oil companies, with Alessandro arguing that these industries are in transition towards sustainability and decarbonisation, rather than being inherently unethical. Alessandro gives an overview as to how the team appr...

September 27, 2023 6:00pm

278. Competitive advantage and the power of a strong brand

David Dudding, manager of the CT Global Focus fund, and newly appointed co-manager Alex Lee, share the fund’s investment philosophy of focusing on company-specific factors, competitive advantages, and long-term growth potential. We also consider global economic trends and thematic investment opportunities such as decarbonisation and energy efficiency. David and Alex also discuss the fund’s holdings in Apple, Pepsi, CRH, and current opportunities in both Japan and emerging markets.
What’s covered in this episode:
Current sentiment in the global economy, region by regionConcerns about government stimulus in ChinaTrends in machinery and industrialsWhy semicond...

September 20, 2023 6:00pm

277. Investing through the recession that hasn’t come… yet

We start our interview with Tom Lemaigre, co-manager of Janus Henderson European Selected Opportunities, by getting an update on the fund’s future given the retirement of veteran manager, John Bennett. Tom emphasises that the investment process and core tenets will remain unchanged despite the change of leadership.
Tom also covers the current economic environment in Europe, including the challenges for companies and why their long-term investment approach allows them to take advantage of short-term market reactions. The interview delves into the fund’s portfolio, which is aligned with long-term thematic trends such as deglobalisation, onshoring, electrification, energ...

September 13, 2023 6:00pm

276. Japan’s resilience and debunking deglobalisation

Delve into Japan's economic landscape and its place in the world with Sam Perry, manager of the Pictet Japanese Equity Selection fund. Sam gives a critical examination of the perception of deglobalisation and its impact on Asia and Japan, before shifting to Japan's unique economic environment and newfound – and welcome - inflation. We also consider how Japan's recent economic stimulus and policies have shifted the narrative, with increased investment opportunities and economic growth, the “inefficiency” and misconceptions of the Japanese equity market and the long-term prospects for the car industry in Japan.
What’s covered in this epis...

September 07, 2023 5:00am

275. Why the UK market is at an attractive entry point

The VT Downing Unique Opportunities fund recently celebrated its third anniversary. With its life so far having been dominated by tumultuous global events such as the pandemic, the invasion of Ukraine, and rising inflation, manager Rosemary Banyard joins us to discuss how she navigated these challenges and managed to outperform in spite of them.
The fund has a focus on small and mid-cap companies, which have faced headwinds in recent years. Rosemary explains this in more detail and shares her experience with M&A activities. We conclude the interview by discussing current market sentiment towards the UK...

August 31, 2023 6:00pm

274. Investing for tomorrow: sustainability, healthcare, and emerging trends

The Rathbone Greenbank Global Sustainability fund marked its 5th anniversary in July. Manager David Harrison joins us to discuss how sustainable investing has changed over the past five years and predicts what is yet to come in the sector. We consider both the circular economy and artificial intelligence as emerging trends, but also delve into healthcare - a current opportunity within the fund. We also discuss the surprising resilience of the US and UK economies amidst market volatility and David also emphasises the importance of keeping a balanced approach in the fund.
What’s covered in thi...

August 30, 2023 6:00pm

273. The strong growth potential for UK equities

Uzo Ekwue, co-manager of the Schroder British Opportunities Trust, gives an update on performance, the investment strategy and the current 30% discount to the market. Uzo emphasises the trust’s focus on both private and public assets, particularly in the mid and small-cap space, and tells us why they see a mispricing of private assets due to market sentiment. We touch on examples within the portfolio, illustrating the range of size, mergers and acquisitions in the UK and ultimately the exciting opportunity for investors to be a part of the strong growth potential of the trust’s underlying assets.

August 23, 2023 6:00pm

272. The economic tightrope: recession risks and interest rate dangers

Managed by Mike Riddell, the positioning of Allianz Strategic Bond fund is driven by the team’s view on the prevailing economic environment. In this interview, Mike outlines why he believes understanding the global economic direction and identifying mismatches between market pricing and actual risk, is so important for bond investors.
He explains that while markets are currently pricing in minimal risk of recession, his fund remains flexible, employing tactics such as investing in government and corporate bonds, taking inflation views, and even investing in currencies. He also discusses potential risks, such as geopolitical events and China's eco...

August 16, 2023 6:00pm

271. Why saving money is a greater driver than cutting back on CO2 emissions

Francesco Conte and Sara Bellenda, co-managers of the new Elite Radar JPM Climate Change Solutions fund, explain to us how an internally developed AI tool helps them to scan thousands of companies to find the most likely contributors in creating a more sustainable world.
The managers discuss the importance of identifying technology and innovation early, highlighting both hydrogen and carbon capture technology as two examples. While heat waves and rising ocean temperatures both serve as alarming indicators of climate change, the interview also discusses the importance of adaptation and proactive solutions. Ultimately, the fund's approach to investing...

August 09, 2023 6:00pm

270. Why high yield bonds are not the dangerous game they once were

David Ennett, co-manager of the Artemis Global High Yield Bond fund explains why the sector has now matured giving investors greater scope to invest in higher quality bonds in this portion of the market. He emphasises the importance of actively choosing which segments of the market to invest in and explains why high yield bonds are appealing in an inflationary environment.
The interview also delves into the fund's investment approach, including its preference for BB and B-rated securities, as well as its focus on developed markets like the UK and the US. David also shares the rationale...

August 03, 2023 3:00am

269. Why inflation is a welcome return to Japan

Praveen Kumar, manager of the Baillie Gifford Shin Nippon investment trust, tells us about the welcome return and impact of ‘mild inflation’ to a country that has had more than two decades of deflation. He details the subsequent shift in mindset for domestic investors and how this is boosting the domestic equity markets. Praveen then gives us his views on the growth prospects for Japan - boosted by advances in the application of AI - and the impact of this on the fund’s own holdings.

What’s covered in this episode:
The impact of infla...

July 26, 2023 6:00pm

268. Why gold is the original cryptocurrency

Alec Cutler, manager of the newly award Elite Rated Orbis Global Balanced fund, joins us today to provide a brief introduction to the fund's philosophy, the unique charging structure of the fund and its approach to targeting long-term returns, before turning to macro events. Self-proclaimed contrarian investor, Alec, highlights the importance of patience and being comfortable with being alone and potentially being wrong - or early - in investment decisions.
We shift to the ever-present topic of inflation, with Alec expressing skepticism about the Federal Reserve's ability to control it and highlighting several current — and historical — inflationary press...

July 19, 2023 6:00pm

267. The long (and short) of investing in Europe

Stephanie Bothwell, co-manager of the BlackRock European Absolute Alpha fund, joins us today to discuss the current economic and market conditions in Europe. While macro narratives such as inflation and interest rates have influenced the market, there is now more dispersion between stocks and within sectors, creating a supportive environment for bottom-up stock selection. Stephanie highlights two long positions in the fund: Novo Nordisk, driven by innovation in diabetes and obesity therapies, and Royal Unibrew, a Danish drinks company which announced a deal just this week, providing a platform for organic growth.
What’s covered in th...

July 12, 2023 6:00pm

266. Should investors consider cash in today’s environment?

Darius McDermott and Juliet Schooling Latter offer their opinions on the artificial intelligence craze - whether it’s here to stay and how companies can embrace AI going forward. On the subject of inflation, they acknowledge its persistence and the challenges it presents, and consider whether cash could be an attractive asset class today. Darius and Juliet also give their views on how investors should react to a change of management on a fund and why investors shouldn’t try to “time the market” but rather consider “buying the dips” for long term investments.
What’s covered in this...

July 05, 2023 6:00pm

265. An introduction to REITs: challenges and opportunities

The advantage of investing in a pooled fund of Real Estate Investment Trusts (REITs) is that investors don't need extensive knowledge about the underlying assets. Active managers such as Rogier Quirijns, co-manager of the Cohen & Steers European Real Estate Securities fund, handle the selection of properties and the broadening sectors within real estate, such as office spaces, retail, data centres, and self-storage, on your behalf.
Rogier discusses the negative impact of inflation overshooting and the subsequent increase in interest rates, which primarily affected the listed real estate market. However, he also mentions that inflation can be a b...

June 29, 2023 6:00pm

264. Is it time to be optimistic about the UK economy?

City of London Investment Trust manager Job Curtis discusses the current state of the UK economy and provides a more optimistic perspective. While he believes inflation will eventually decline, it may take time to return to previous levels. Job discusses the global exposure of his holdings and the negative perception of the UK market on the global stage. He also reveals what he says is the “hidden secret of stock markets”. The interview finishes with Job highlighting the reliability of the trust to grow its dividends and how companies in the portfolio have managed rising inflation and interest rates.

June 28, 2023 6:00pm

263. Why investment meetings are an art, not a science

Anjli Shah, manager of the abrdn SICAV I Global Mid-Cap Equity fund, demonstrates the effectiveness of the fund’s ability to run small-cap winners and buy future large-caps early. Anjli acknowledges the challenges faced in 2022, due to a combination of style rotation in global markets and mid-cap growth being affected by higher inflation and interest rate expectations.

This episode also focuses on three holdings: Cadence, a US company specialising in computational software for semiconductor design, Moncler, an Italian luxury brand known for its outerwear, and small-cap graduate, Insulet, a US manufacturer of tubeless insulin pumps. Anjli explains th...

June 21, 2023 6:00pm

262. How to profit from innovative companies

Ian Mortimer, co-manager of the Guinness Global Innovators fund, shares how the fund identifies and profits from innovative and disruptive companies, emphasising the importance of sustainable growth and the need to avoid getting caught up in the hype. We also cover the benefits and risks associated with Artificial Intelligence, the Metaverse, and the payments and FinTech sector. Ian provides examples of companies within these various themes and discusses the long-term outlook for investing in innovative companies, highlighting the challenges faced in the past 18 months.
What’s covered in this episode:
How investors can make mone...

June 14, 2023 6:00pm

261. Navigating opportunities and risks in an inflationary environment

James Mee, co-head of multi-asset strategies and manager of the Waverton Multi-Asset Income fund, provides a comprehensive overview of the wide range of opportunities available to multi-asset investors. James delves into Waverton's unique approach to risk management, emphasising that it goes beyond just volatility and encompasses factors like inflation and potential permanent capital loss. He explores the effective strategies employed during uncertain periods, including the use of hedging within the fund to mitigate these risks.
The latter part of the episode focuses on the critical topic of inflation and its long-term implications. James analyses various factors such...

June 07, 2023 6:00pm

260. Unlocking the income potential of UK smaller companies

Joining us today is Guido Dacie-Lombardo, co-manager of the LF Montanaro UK Income fund, to delve into the UK market and shed light on the extensive resources at Montanaro's disposal. Given the fund's specific focus on small and medium-sized businesses, Guido shares his insights on UK small caps and highlights the expertise of the Montanaro team in producing their own high-quality research. Our discussion covers various topics, including M&A activity, as well as both special and ordinary dividends within the fund's portfolio. Guido concludes by elaborating on the fund's strong ESG credentials, the company’s commitment to achieving Ne...

May 31, 2023 6:00pm

259. We may be past peak inflation, but the path downwards will be a tricky one

A ‘go anywhere, do anything’ fund, new Elite Radar Invesco Tactical Bond fund is the most flexible offering in Invesco’s fixed income range. Manager Stuart Edwards joins us to discuss the magical world of fixed income, explaining why bonds have suddenly become much more exciting for investors. Stuart also explains some often-used terms such as ‘duration’ and the impact it can have on returns. He also reveals the areas where he is finding the best opportunities and tells us how he started his career as a UK economist forecasting data. With such a background, it would have been remiss of...

May 24, 2023 6:00pm

258. How to deliver consistent income in difficult markets

Despite challenging market conditions, the newly Elite Rated BNY Mellon Multi-Asset Income fund has managed to provide a consistent income by employing a diversified investment approach across various asset classes. Manager Paul Flood, joins us to discuss a wide range of topics including how the fund incorporates both macro and micro themes such as big government, decarbonisation and globalisation. Paul also explains the attractiveness of the bond market and the “rebirth” of the 60/40 portfolio (which traditionally consists of 60% equities and 40% bonds). Given concerns about potential inflationary pressures, Paul also explains the shift toward inflation-linked alternatives and renewable energy assets. We f...

May 17, 2023 6:00pm

257. Generating an income by investing in Asia

Singapore-based manager Jochen Breuer talks us through the key objectives of the Fidelity Asian Dividend fund — and it’s not just about producing an income. Jochen explains the types of companies held in this concentrated portfolio, why they tend to outperform in falling markets and the prospects for dividend growth in Asia. We consider two examples, firstly the technology sector through the lens of Samsung and secondly, the financial sector using Singapore Exchange as an illustrative as to why the manager favours non-bank financial companies.
What’s covered in this episode:
The three targeted outcomes...

May 10, 2023 6:00pm

256. Only a 30% chance of a European recession…

Europe has had a number of challenges in recent years when faced with serious threats, whether from Brexit, the pandemic or now the Russia-Ukraine war and its consequences for global energy supplies. Despite these headwinds, Zehrid Osmani, manager of FTF Martin Currie European Unconstrained, remains positive on sentiment in Europe. Zehrid discusses the uncertainty around inflation, but also how the reopening of China has been beneficial to European companies. Zehrid tells us more about a few themes running through the portfolio in robotics, automation, artificial intelligence and the metaverse. We wrap up with the investment case for three holdings...

May 03, 2023 6:00pm

255. Why bonds could be a better investment in 2023

The Aegon Diversified Monthly Income fund has the flexibility to pursue the most attractive income opportunities that its managers can find around the world. Co-manager Vincent McEntegart tells us more about the current opportunities for income seekers, focusing primarily on the fund’s rotation towards the bond market. Vincent tells us why the fund has been reducing banking exposure, infrastructure and real estate, in favour of investment grade and high yield bonds, and finishes by explaining how they are making money from the Brazilian currency.

What’s covered in this episode:
How the fund has m...

May 03, 2023 2:00am

254. The ‘Investing on the go’ podcast turns 4

The Investing on go podcast was launched four years ago today and, in that time, we’re conducted over 250 interviews, had over 75,000 listens, not to mention a global pandemic, inflation, recession and a banking crisis. Needless to say, the last four years have been a bumpy road with the podcast coming along for the ride. Darius McDermott, Juliet Schooling Latter and Sam Slator mark the occasion by looking back over the last four years and looking ahead at what’s to come from markets.
What’s covered in this episode:
What’s the outlook for market...

April 30, 2023 4:00am

253. The investments lowering your carbon footprint

Climate finance is an area that continues to see growth and, for the first time, in 2022 the world spent more on this area than on the investment in the fossil fuel ecosystem according to today’s guest. Deirdre Cooper, co-manager of the Ninety One Global Environment fund, joins us this week to talk about the growing opportunities in climate finance and how legislation from various countries impacts global efforts. Deirdre explains the unique investment process of the fund and how they go about reporting on the carbon avoided and the supply chain of their companies. Deirdre also goes into de...

April 26, 2023 6:00pm

252. Why emotion is the big enemy of investors

With approximately 41,000 companies listed worldwide, how’s an investor to choose? And once invested, how do you keep your emotions in check? In this interview, Bertrand Cliquet, co-manager of Lazard Global Equity Franchise fund, tells us how this fund’s emphasis on good economic franchises filters that list down to an eclectic mix of just 26 stocks. Bertrand also explains how the process uses a behavioural analysis filter and why the team sticks with a conservative approach to combat inflation and volatility in the markets.

What’s covered in this episode:
The characteristics that make an ‘eco...

April 20, 2023 2:00am

251. Australia has outperformed China… surprised?

With over 30 years’ experience of investing in the Asia region, Jason Pidcock, manager of the Jupiter Asian Income fund, takes us deep into the heart of his fund’s territory. He explains why he’s comfortable with a zero-weighting to China and perhaps surprises some listeners with the news that the Australian stock market has been the best equity market in the world since 1900. Jason gives us the reasons behind Australia’s success, then discusses the opportunities in India – particularly for dividend growth – and goes on to explain why the fund invests only in large caps. He ends with some stock e...

April 12, 2023 6:00pm

250. Why the FTSE 250 is great for active investors and long-term growth

Abby Glennie, manager of the abrdn UK Mid Cap Equity fund, joins us to celebrate our 250th episode by talking all things FTSE 250 - the UK’s 250 mid-sized companies. Abby and Darius discuss the types of companies listed in the FTSE 250 and their attractive qualities for long term investors. Abby also tells us that more mid-sized companies can be found in the AIM index and gives a number of examples to illustrate the long-term growth potential of mid-cap stocks and the fund’s ability to “run its winners” - including familiar names like Hollywood Bowl and Greggs.

What’s...

April 05, 2023 6:00pm

249. A rallying cry for UK equities

Alexandra Jackson, manager of Rathbone UK Opportunities fund, gives her views on the Silicon Valley Bank failure and why rising interest rates are felt more by start-ups than quality companies. According to Alexandra, the UK is trading on a 40% discount to global equities, so now could be a good time to invest. She discusses the wide range of opportunities to be had, ranging from gaming to infrastructure.

What’s covered in this episode:
What happened with Silicon Valley Bank… and should we be worried?Are higher interest rates going to negativity effect mid and small...

March 29, 2023 6:00pm

248. Turbulent times: a banking bailout, a political football and a rate rise

Darius McDermott and Juliet Schooling Latter offer their opinions on market volatility brought on by a potential banking crisis. They discuss the issues around the failures of both Silicon Valley Bank and Credit Suisse and how a lack of investor confidence could potentially see these issues spread further. Closer to home, we discuss the FTSE 100 and recent changes to the Lifetime Allowance for pensions following the Spring Budget. Both Darius and Juliet conclude by offering their views on technology, healthcare, commodities and India and tells us where they’re looking to invest their ISA allowance this year.

...

March 22, 2023 7:00pm

247. The trends changing the world...and how to invest in them

The Invesco Global Focus fund has a refreshingly simple approach: understand the structural trends which are changing the world and then invest in the best companies which are benefitting from these trends. John Delano, co-manager on the fund, explains how the managers’ go about identifying these themes, the importance of scale and monetisation and gives examples in cloud computing and medical devices to illustrate his point. Current lead manager on the fund, Randall Dishman, is retiring in June 2023 and John tells listeners what they can expect when he takes over.

What’s covered in this episode:

March 15, 2023 7:00pm

246. “Everyone has a plan until they get punched in the mouth”

Mike Tyson spoke from experience when he said “everyone has a plan until they get punched in the mouth”. 2022 was a punch in the mouth to investors everywhere and resulted in emotional volatility in markets according to Steven Andrew, manager of M&G Episode Income. Steven talks us about investor optimism — and pessimism — across a range of assets, notably UK equities and emerging market bonds. We also consider how human behaviour influences pricing behaviour and market data, ultimately causing continued emotional uncertainty as we head further into 2023.
What’s covered in this episode:
Why investor opt...

March 08, 2023 6:00pm

245. Forget emerging markets – invest in a Barclays Bank bond

George Curtis, portfolio manager and member of the Multi-Sector Bond team at TwentyFour Asset Management, presents a broad overview of bond markets as we stand today. He covers all areas from high yield to government bonds and gives insights as to why the TwentyFour Dynamic Bond fund has been reducing exposure to both emerging market bonds and the high yield bond market, as well as the growing significance for ESG considerations within fixed income.

What’s covered in this episode:
Why 2022 was one of the worst years on record for global bond marketsThree scenarios for...

March 07, 2023 6:00pm

244. After years of playing second fiddle to men, women are poised to take centre stage.

In just two years, 60% of all the wealth in the UK will be in female hands. So now is not the time to be quiet about money matters! Gillian Hepburn, Head of UK Intermediary Solutions at Schroders has been researching the transfer of wealth for a number of years and joins us to discuss this in more detail. From pensions problems to divorce disasters Gillian outlines some of the issues women may face with their future finances and gives practical solutions as to how to invest an inheritance.

What’s covered in this episode:
Why...

March 01, 2023 6:00pm

243. Biotechnology: the innovation engine of big pharma

Linden Thomson, manager of the AXA Framlington Biotech fund, gives an introduction to biotech, one of the fastest growing subsets of the healthcare industry. Linden explains the difference between pharmaceuticals and biotech, and outlines the themes driving the sector, including drug innovations in the area of HIV/AIDS and cystic fibrosis. She also covers the influence of US politics and geopolitical tensions in China on the sector and how the fund can often bring defensive aspects to an investor’s portfolio.

What’s covered in this episode:
The difference between biotechnology and pharmaceuticals Four theme...

February 28, 2023 2:00am

242. Wherever risk is mischaracterised, may well lead to an opportunity

Barings Europe Select Trust co-manager Will Cuss talks about all things Europe in this week’s podcast. He gives us a brief overview of inflation in the Eurozone and comments on some big moves in the commodities market. Will also discusses how the energy availability risk looks set to decrease with a combination of a new energy source – Middle East gas – coming onstream, alongside growing investment in renewable energy sources. He describes the USPs the team looks for in buying opportunities and tells us how corporate engagement informs and helps to identify companies that can do well in any sort o...

February 22, 2023 6:00pm

241. Is the outlook for global emerging markets improving?

Rasmus Nemmoe, manager of the FSSA Global Emerging Markets Focus fund, talks to us about the outlook for emerging markets and the factors in play today that have influenced past performance. He explains which companies are bucking the trend and gives examples from the portfolio including South African and India banks and the Mexican Starbucks operator. Rasmus also explains how the fund has evolved since the pandemic and how it has managed to outperform despite market conditions.

What’s covered in this episode:
Why emerging markets have disappointed in the past decadeWhich companies have in...

February 15, 2023 6:00pm

240. Why we're still investing in Tesla and Netflix

Baillie Gifford’s Ben James talks to us about US equities and the Baillie Gifford American fund in this week’s podcast. He tells how sticking to the fund’s philosophy and process in challenging markets helped them ‘avoid making knee-jerk reactions to the noise and the sentiment in the market’. He also discusses the US economy and the outlook for its businesses, before going on to tell us the team’s investment case for the likes of Tesla, Netflix, and concludes by telling us about 3 stocks they’re currently finding exciting and why.

What's covered in this episod...

February 08, 2023 6:00pm

239. Why banks are the most exciting investment in the UK today

Alex Wright, manager of the Fidelity Special Values investment trust, explains to us how the UK’s largest 100 companies can be trading cheaply, even though the index has hit an all-time-high. He discusses the different areas of the UK stock market and tells us why he thinks banks are the most exciting sector for investors today. Alex also discusses the importance of dividends and tells us why he prefers a couple of European companies over their UK peers.

What’s covered in this episode:
Does the FTSE 100 reaching an all-time high mean it’s too ex...

February 01, 2023 6:00pm

238. Will UK smaller companies bounce back in 2023?

Paul Marriage, co-manager of the TM Tellworth UK Smaller Companies fund, explains why 2022 was “pants” for the UK smaller companies sector, both in terms of performance and from an M&A perspective. Yet Paul is optimistic for the sector in 2023 and is already seeing bids come through for M&A and beginnings of a healthy IPO market. We finish the interview with two examples from the portfolio, a company that manufactures radiators and one that makes gift wrap.
What’s covered in this episode:
What made 2022 such a bad year for UK smaller companiesWhat happened...

January 25, 2023 6:00pm

237. Hunting for profits in UK Equity Income

Sid Chand Lall, manager of the IFSL Marlborough Multi Cap Income fund, talks to us about finding income opportunities in the UK's smaller – but growing – companies. He describes how he finds profitable companies and explains how dividends can help offset the erosion caused by inflation. Sid also highlights one smaller company and two medium-sized ones in the portfolio: Ricardo Plc, Paragon Banking Group and Drax Group.

What’s covered in this episode:
Understanding the Investment Association’s “yield test”How the manager finds profitable companies for the portfolioHow dividends can help offset the impact of inflationW...

January 19, 2023 6:00pm

236. Why more investors should consider Asia for income

Richard Sennitt, manager of Schroder Asian Income fund, explains both the structural and cyclical reasons for recent Chinese equity underperformance, including the shift away from the zero-Covid policy. He tells us what impact this has had on the fund’s positioning going into 2023 and explains more about why he’s underweight not only China but also India, instead looking towards South Korea, Taiwan, and Singapore for investment opportunities.
What’s covered in this episode:
Why Chinese equities have underperformed the last 12 monthsThe policies affecting Chinese marketsHow the swift move away from the zero-Covid policy has chan...

January 18, 2023 6:00pm

235. Why investors need to rethink the way they build a portfolio

One day in September 2022 “we were the only active buyer of UK duration in the world” says manager Duncan MacInnes. He, and LF Ruffer Diversified Return co-manager Ian Rees, added to UK gilts three days after the Truss-Kwarteng debacle and some assets more than doubled in a short period of time. In this interview, the pair tell us about this and other investments that helped the fund become one of the few to manage a positive return in 2022. They also explain why they think the next decade will be very different to the last 40 years and will see inflation aver...

January 11, 2023 6:00pm

234. How the energy crisis has accelerated our need for new infrastructure

Renewable energy has been around for some time, but with an energy crisis in the UK and Europe, David Harrison, manager of Rathbone Greenbank Global Sustainability fund, tells how its adoption is being accelerated due to both concerns about climate change and because of economics. In this interview, David considers four types of sustainable infrastructure (physical, energy, transport and water) giving examples of companies he holds and really bringing this theme to life.

What’s covered in this episode:
The relationship between the energy crisis and climate changeThe acceleration of long-term investment in electric vehi...

January 04, 2023 6:00pm

233. Where the investment opportunities lie for young and old in 2023

Darius McDermott and Juliet Schooling Latter offer their opinions on how we got to where we are today and where we should be looking in 2023. The list of topics they cover is extensive including inflation, bonds, emerging markets (with India as the star of the show) and continuing volatility for the equity markets. They then look at the interesting question of where they would invest £10,000 today, and furthermore, the differing investment approaches needed whether investing for growth or income in 2023.

What’s covered in this episode:-
Key moments of 2022 and the impact on the...

December 30, 2022 6:00pm

232. A brighter future for smaller companies in 2023

Simon Moon and Alex Game, managers of the Unicorn UK Smaller Companies fund, review a tough year for their sector but are confident in still being able to find opportunities by buying into under-priced, high-quality assets. Both managers identify smaller companies as being able to react and adapt quicker to changing fiscal environments than their larger comparators, so they believe that smaller companies will be well-positioned in light of recovery, which may be just around the corner, according to the general feeling in recent meetings with company management teams.

They tell us more about the interesting results...

December 26, 2022 6:00pm

231. How Japan’s car manufacturers got it all wrong

Matthew Brett, manager of the Baillie Gifford Japanese fund and Baillie Gifford Japan Trust, talks to us about the Japanese economy reopening and how the weak yen is impacting business. He talks about inflation finally occurring in the country and questions whether the Bank of Japan’s policy will change when the current governor’s term comes to an end. Matthew tells us that he is excited about the opportunities opening up and discusses some recent purchase and the increased gearing on the Trust. He also explains why the portfolios no longer hold car manufacturers and he wraps up by t...

December 19, 2022 4:00am

230. Profits today rather than speculative growth tomorrow

Steven Smith, Investment Director for the Elite Rated Capital Group New Perspective fund, talks to us about how the fund’s original investment ethos - determined nearly 50 years ago - has evolved, and continues to evolve in today’s markets. He discusses how globalisation has changed their investment perspective, how growth stocks are being evaluated on slightly tweaked criteria to match the expectations of a recessionary market, and how a greater breadth of equity market leadership is good for active stock pickers.

He also tells us about the benefits of having the fund’s investment analysts actively managi...

December 13, 2022 6:00pm

229. Now there IS an alternative to equities

Richard Woolnough, veteran manager of three Elite Rated products, the M&G Corporate Bond, M&G Strategic Corporate Bond and the M&G Optimal Income fund, talks to us about some new acronyms in asset allocation. He tells us how equities can boost a bond fund’s returns, explains the wider impact of quantitative easing and quantitative tightening, and he finishes by commenting on whether he’s more bullish or bearish for 2023.

What's covered in this episode:
Why it’s been an active year for the value investorWhy TINA has been replaced by TIAAHow intere...

December 08, 2022 3:00am

228. There's always rain in the desert for stock-pickers

Chris Kinder, manager of the CT UK Extended Alpha fund, talks to us about being a bottom-up stock picker and finding ‘rain in the desert’; he notes that even in the most trying of financial markets, there will always be certain pockets of growth and performance that fund managers should be able to find. He comments in detail about the benefits that London Stock Exchange Group (LSEG), Aveva, SSE, and Diageo all bring to his portfolio, and – although not a thematic investor – he notes three themes in particular wherein he foresees many opportunities. He finishes by commenting on what happens n...

November 29, 2022 6:00pm

227. How hydro-electric power could help avoid blackouts in the future

Will Argent, investment adviser to the VT Gravis Clean Energy Income fund, tells us how the clean energy space has evolved in the last 5 years since the fund’s inception, and how the investment opportunities have equally grown. He gives his opinion on the impact of the recent windfall tax in the UK and, mindful of the National Grid’s warnings about challenging times ahead, comments on energy storage solutions, as well as alternative power sources such as nuclear, hydroelectricity, biomass and geothermal.

What's covered in this episode:
The growth of renewables in the last...

November 28, 2022 6:00pm

226. Elon Musk and the potential demise of Twitter

Jeremy Gleeson, manager of AXA Framlington Global Technology, comments on the performance of tech stocks this year and tells us that, despite some high-profile disappointments, there have been a number of good earnings surprises in the sector.

He talks about Facebook’s problems, the possible demise of Twitter, and gives us some insight into current favoured holdings within the portfolio. He finishes by suggesting some interesting gadgets to add to your Christmas list!

What's covered in this episode:
3 reasons why tech has had a difficult yearWhy tech has gone from above average gro...

November 23, 2022 6:00pm

225. Latin America: what the elections mean for investors

In this in-depth interview, Eduardo Figuieredo, the manager for the abrdn Latin American Equity fund, talks to us about all things Latin America. He comments on the impact of the recent elections in Brazil, as well as its rejuvenated commitment to environmental issues; the additional positive effect of the ‘check and balance’ that the newly elected, two-tier Congress and Senate will have on the financial markets. Discussing politics in Mexico, the manager also covers resilience and growth in the Mexican consumer space and its manufacturing base, as US companies look to bring supply chains closer to home.

Wh...

November 15, 2022 3:00pm

224. Why Alnylam, Oxford Nanopore and Ocado offer compelling, long-term opportunities

Bill Chater, investment specialist for the Baillie Gifford Global Discovery fund, gives us an in-depth perspective on the fund’s investment style and why the long-term approach delivers results. He comments on the core fundamentals the team looks for in its stock picks, touches on the current market conditions and the impact on the fund, and why the potential within healthcare is so exciting, with names like Alnylam and Oxford Nanopore. He finishes by offering more details on Ocado’s big deal in the US and on the automation technology that makes it a compelling addition to the...

November 12, 2022 6:00pm

223. Growth is like "... sirens pulling you onto the rocks."

Kevin Murphy, co-manager of Schroder Income, tells us why stock markets are irrational and growth is like, "sirens pulling you onto the rocks," in this week's interview. Kevin also shares why the managers have been trimming their exposure to oil and gas and the banking sectors in favour of consumer retail names. We wrap up with the million pound question: value or growth?

What's covered in this episode:
Emotions and extrapolation in financial marketsWhy profits are indeed important How focussing on the numbers can ensure strong, long-term returnsHigh interest rates and capital growth and r...

November 09, 2022 6:00pm

222. A deep dive into the US economy and why Netflix is now a bargain buy

Maneesh Bajaj, manager of the Elite Rated Brown Advisory US Flexible Equity fund, talks about his fund, the outlook for US markets in 2023 and the fund’s approach to investing. He comments on several of the fund’s holdings, including Berkshire Hathaway and why that conglomerate’s culture of corporate responsibility and attitude towards its shareholders makes it an important, long-term holding for the fund. He also reveals why he believes there’s still mileage in the FAANG tech stocks and why Netflix has come good.

What's covered in this episode:
The state of the US e...

November 02, 2022 7:00pm

221. Balance is best, but in an inflationary environment, equities are key

Matthew Page, co-manager of the Guinness Global Equity Income fund, talks to us about how company dividends are holding up this year. He also covers the fund’s investment process, how it differs from others, how the team makes its buying and selling decisions, and the effect recent decisions have had on the geographic weighting of the portfolio. Matthew also comments on the perennial 'bonds v equities' debate, looks at how some consumer staples’ companies are defying economic norms, and wraps up by telling us why British American Tobacco is out, and Coca-Cola is in.

What's cove...

October 31, 2022 4:00am

220. Why a focus on capital gains can miss out on opportunities in income

Jason Borbora-Sheen, manager of the Elite Rated Ninety One Global Income Opportunities fund, takes a broad look across global asset classes in this far-reaching episode. He gives us his current and future outlooks for both the bond and equity markets, and how these have shaped the portfolio. He also comments on how the fund uses hedging to benefit the portfolio - in particular when it comes to gaining from emerging market debt – and tells us how consistency and reliability are key factors for stock picks and why investors who tend to focus on capital gains, may miss the opportunity tha...

October 27, 2022 1:00am

219. Currencies, corrections … and inflation!

James Mahon, co-manager of the SVS Church House Tenax Absolute Return Strategies fund, tells us about some deflationary forces that are starting to come through and why he thinks inflation could peak in the next few months. He explains what the ‘yield curve’ can tell us about an economy’s health and why bonds that are due to mature in just a few years’ time are more attractive than those that have a long time to maturity. James also discusses the fall in the value of the pound versus the US dollar, tells us which parts of the UK equity m...

October 19, 2022 6:00pm

218. There is hope yet for UK equities!

Alexandra Jackson, manager of the Rathbone UK Opportunities fund, talks to us about UK equities: how they have performed, the impact of UK political and economic turmoil, why mid-cap stocks are attractive, and why M&A targets are no longer vulnerable companies but trophy assets. She also tells us which stocks she has sold recently, reveals which real estate company has locked-in cheaper energy prices for its tenants, and gives us some hope amidst all the doom and gloom.

What’s covered in this episode:
How growth stocks have performed in the past six mon...

October 11, 2022 6:00pm

217. Making money from an economy in structural decline

Alexander Darwall, manager of the European Opportunities Trust, tells us why the European economy is in structural decline, but also why you can still make money there as an investor. He discusses healthcare company Novo Nordisk – in particular, its diabetes drug and new use for weight-loss – tells us about investing too early in Deutsche Boerse, and reveals why his investment in Dark Trace is just a small position today. Alexander also gives his views on central banks: the mistakes they are making and how politicised he thinks they are.

What’s covered in this episode:
Why y...

October 05, 2022 6:00pm

216. Investing in innovations that allow us to meet unmet medical needs

In this interview, Simon Clements, co-manager of the Liontrust Sustainable Future Global Growth and Liontrust Sustainable Future Managed funds, talks to us about the three mega themes and 20 sub-themes in the portfolio. He describes companies the team invests in, including one that makes factory floors more efficient, one that could mean patients can leave hospital sooner and one that makes sure the air we breathe and the food we eat is not contaminated. Simon also discusses the current challenges for the companies he is invested in and what the future looks like for sustainable trends.

What’s c...

October 04, 2022 2:00am

215. Why the UK stock, bond and currency markets hated the mini-budget

Darius McDermott and Juliet Schooling Latter return to discuss the third quarter of 2022. After a week of turmoil in the UK markets, they explain what has been going on. They also discuss the US, high yield bonds, and why financial companies have done well recently. They also touch on the continued outperformance of Latin American equities; the possible issues coming out of Japan; and wrap up with the positive opportunities for investors amidst all the doom and gloom.

What’s covered in this episode:
What has been happening in the UK market in the pas...

September 28, 2022 6:00pm

213. Where you can find the best dividends around the globe

Janus Henderson’s Jane Shoemake tells us all about the Janus Henderson Global Dividend Index. She reveals what it looks at, and what it can tell investors about dividend health in various regions and sectors. Jane then discusses how dividends can help investors during periods of high inflation, before going on to talk about the Janus Henderson UK Responsible Income fund. Jane tells us which types of company are excluded from the portfolio, where the team is finding ideas, and how the income on the fund is holding up.

What’s covered in this episode:
What is th...

September 28, 2022 6:00pm

214. Why infrastructure is crucial in the transition to net zero

Rebecca Myatt, a portfolio manager on the Elite Rated First Sentier Global Listed Infrastructure fund, and lead manager of the First Sentier Responsible Listed Infrastructure fund, talks to us about how infrastructure is important when it comes to achieving environmental and social goals. She discusses the transition to a net zero global economy, why it is important to engage with companies not simply divest and explains how we can become independent of Russian gas in both the short and long term. She wraps up with an explanation as to what investors should expect from infrastructure in an inflationary environment. <...

September 21, 2022 6:00pm

212. Ditching the bullies and investing in best of class mid-caps

Charles Luke, manager of the Murray Income Trust, starts this interview with a reminder about the types of company he likes to invest in. He then reveals details about three new holdings: Oxford Instruments, Safestore, and London Stock Exchange Group. Charles also discusses the pros and cons of mergers and acquisitions, before going into detail about the Trust’s ESG credentials, with the example of a company he sold due to an internal bullying culture.
What’s covered in this episode:
What companies the Murray Income Trust invests inRecent performance of the fundThe manager’s view o...

September 14, 2022 6:00pm

211. Why the structural growth story in Asia is alive and well

Matthews Asia ex Japan Dividend fund manager Yu Zhang talks to us about the benefits of investing in dividend paying companies in Asia versus their more developed peers in the Western world. He also explains why the structural growth story in Asia remains strong and how companies are getting used to living with Covid. He also highlights some of the value that is starting to appear in Chinese equities and why he is also bullish on Vietnam. We also discuss the role of sustainability in the portfolio, including a business making synthetic diamonds.

What's covered in...

September 07, 2022 6:00pm

210. Using dividends in the fight against inflation

Ben Peters, co-manager of the TB Evenlode Global Income fund, discusses inflation and says that while very little can be done to help in the short term, in the long-term, equities – and in particular companies that can generate a sustainable dividend – are not a bad place to be. Ben tells us about a recent trip to the US and meetings with the management of Mastercard and Analog Devices. He then reveals whether supply chain issues are improving, before discussing the immediate outlook for markets and the type of companies he hopes will see the fund through a difficult period.
...

August 31, 2022 6:00pm

209. Inflation protection, M&A activity and using disruption to invest in the future

Liontrust UK Micro Cap co-manager Victoria Stevens explains why holding companies which are not capital intensive and have strong pricing power has positioned the fund to manage the challenges of rising inflation. Victoria also talks us through the importance of manager ownership in a company and how it can allow a firm to grow through periods of uncertainty. She also highlights the positives and negatives of M&A activity on the fund and tells us why a 175-year old paper mill in Burneside has become an attractive investment in the defence, high end automotive and clean energy space.
<...

August 24, 2022 6:00pm

208. Recession, adding risk and the dangers of overreacting to 24-hour rolling news

David Coombs, manager of Rathbone Strategic Growth Portfolio, tells us why he has been adding risk to his fund throughout 2022, despite the threat of recession. He also highlights some of the opportunities his team have been finding in both the bond market and tech stocks this year. He also explains why the current crisis is no different to anything else he has experienced in the past four decades and why investors should not overreact in periods of geopolitical instability. David also outlines his expectations for inflation and why he tries to ignore the noise around the growth/value debate.<...

August 18, 2022 6:00am

207. Why now is the time to be selective and different in the high yield bond space

Man GLG fund manager Mike Scott explains why credit spreads are the major driver of returns in the high yield bond market and the importance of not only being selective, but also different, in choosing companies amid a weaker economic backdrop. He also highlights the role of cash flows in this environment and the focus on targeting businesses with recession proofing characteristics over a number of cyclical names. Mike also addresses the role of inflation in the high yield bond space and the performance of the US energy sector.

What's covered in this episode:
...

August 10, 2022 6:00pm

206. Now is not the time to be going off on exciting adventures

JOHCM Global Opportunities manager Ben Leyland explains why markets have been abnormal since the Global Financial Crisis in 2008 and why investors are now facing a financial environment that we’ve not seen for decades. Ben also talks us through how the team run money in transitory periods like these and the benefits of their balanced approach to investing. He also highlights some of the overlooked investment opportunities in the market and the role of cash in the portfolio. We also discuss Ben’s preferred investments in the tech space and why the fund has been adding to names like Adob...

August 03, 2022 6:00pm

205. The price of a Big Mac in Tokyo… and why it matters for investors

Andy Brown, investment director for the Baillie Gifford Japanese equity team, talks to us about how Japan is finally opening up after Covid, and how the economy is running at a different speed to the rest of the world. He tells us why China’s reopening is beneficial to Japan, explains what the Big Mac Index is and why it matters, and the discusses opportunities from collaborative robots to gaming companies. He finishes by telling us why the Baillie Gifford Japanese fund has recently sold its holdings in car manufacturers.

What's covered in this episode:
W...

July 27, 2022 6:00pm

204. Why India is the world’s most exciting growth story for the next decade

Mike Sell, manager of the Alquity Indian Subcontinent fund, explains why favourable demographics, increasing urbanisation and a thriving private sector have made India one of the most compelling growth stories for investors over the next 10 years. Mike also explains why India’s domestic growth story makes the country an ideal investment diversifier and why he sees great opportunities in the financials sector. He also discusses the impact of Prime Minister Narendra Modi as a catalyst for growth and why investors should not be put off by the market looking expensive relative to its peers. Mike also runs through the ro...

July 20, 2022 6:00pm

203. Why the stocks everyone falls in love with can end up being the riskiest of all

Nick Clay, manager of the TM Redwheel Global Equity Income fund, explains why the days of getting rich quick are over and how compounding dividend income will once again become the biggest building block for wealth generation. He also talks to us about why there’s likely to be more pain ahead for the large technology companies and why a number of cyclical sectors, like luxury goods, look attractive from here. Nick also explains why a number of companies are simply not set-up to handle the threat of inflation and why it is important to go against the consensus vi...

July 13, 2022 10:00pm

202. War, inflation and the threat of recession – why history tells us to be contrarian in difficult markets

Although Europe is once again under the microscope for all the wrong reasons, Waverton European Capital Growth co-manager Chris Garsten believes the much-maligned market is now a far more compelling investment proposition than it was eight months ago. He also talks to us about the threat of recession and why he feels it is important to go against the consensus when markets are difficult. Chris also talks to us about why the political need for the Euro to succeed will prevent any further break up. He also runs through the cyclical recovery opportunities he is finding in a post...

July 06, 2022 10:00pm

201. Why you can sleep more easily with private equity investments

Schroders investment directors Paul Lamacraft and Pav Sriharan talk us through the benefits of private equity investing and why the asset class is a great fit for an investment trust vehicle. The pair also talk about the types of companies they target for the British Opportunities Trust, discuss the importance of funding UK growth and buyout companies in what is an uncertain time for the UK economy, and reveal why they are excited about the prospects for their investment in Mintec.

What's covered in this episode:
What are the benefits of private equity investing a...

July 05, 2022 2:00am

200. The day when investors will once again clap, cheer and whoop

Juliet Schooling Latter and Darius McDermott return to discuss the first six months of 2022 in this, our 200th episode. They explain what a bear market is and discuss how long this one could last. They also touch on the more recent performance of early 2022 leaders – commodities and Latin American equities – and why they have lost some of their shine, as well debating whether the Chinese stock market has already reached its lows. They also explain why inflation-linked bonds have performed so badly.

What's covered in this episode:
What is a bear market?How long could...

June 29, 2022 11:00pm

199. How to benefit from irrational investor behaviour

Steven Andrew, manager of M&G Episode Income fund, discusses investor behaviour with us. After a turbulent start to the year, are they behaving rationally or irrationally? Steven also talks about whether the US central bank is calling the shots or if inflation is out of its control. Other topics of discussion include the parallels between Japan and the UK, if bonds or equities are the place to be in the second half of the year, and if markets have reached ‘peak fear’.

What's covered in this episode:
Have investors been acting rationally this year?Ar...

June 22, 2022 10:00pm

198. Why even inflation-linked bonds are letting you down

Dickie Hodges, manager of Nomura Global Dynamic Bond fund, gives listeners an explanation as to why all bonds – including inflation-linked bonds – have had negative returns this year. In a very frank and educational podcast, he explains how the current environment is impacting bonds, gives his view on how high interest rates could go, and whether it’s a matter of when, not if, a recession begins. Dickie ends the podcast with some thoughts on what bond investor could expect in 2023 and 2024 and reveals what has happened to the Russian bonds the fund held earlier this year.

What's...

June 15, 2022 10:00pm

197. Why interest rates are likely to go higher in the UK

Job Curtis, manager of City of London Investment Trust, discusses the UK stock market and why it has outperformed other stock markets around the world this year. He gives his thoughts on the windfall tax for oil companies and how their presence in the North Sea will impact how much of their profits are taxed. Job also discusses inflation and interest rates – their impact on the UK economy and on companies in different sectors. He ends with details of the sectors he likes and dislikes and tips from a 30-year career running money.

What's covered in thi...

June 08, 2022 10:00pm

196. Consumer demand robust despite rising prices

Ben Peters, co-manager of TB Evenlode Global Income, discusses all things inflation: its impact on individuals, companies, sectors, and different geographies. He explains why demand has remained surprisingly robust, despite the continued rise in prices and why some companies are being slow to pass on their costs to their customers. He also discusses his team’s recent trip to the US and pent-up demand for human contact and tells us how the fund has 20% exposure to Asia but only a couple of holdings in Asian companies.

What's covered in this episode:
How inflation is im...

May 25, 2022 11:00pm

195. Why the UK government will find it difficult to resist calls for a windfall tax

Simon Brazier, manager of Ninety One UK Alpha, discusses the outlook for the UK economy and the companies he thinks will do best in the current environment. As consumers look to rein in spending, he is repositioning towards companies with cheaper offerings such as Ryanair and JD Weatherspoon, but says he still prefers large caps over small caps. Simon also discusses the potential windfall tax on oil and gas companies, explains how currency risk can be mitigated, and says he thinks supply chain disruption could be here for some time to come.

What's covered in this...

May 18, 2022 10:00pm

194. What do Birkenstock, eBay, recycling and litigation all have in common?

Lucy Isles, co-manager of Baillie Gifford High Yield Bond fund, discusses her investments in the bonds of Birkenstock, the owner of eBay and Gumtree, a French recycler and a litigation business. She explains why bonds have struggled in 2022 and how investors could expect high yield bonds to behave in an inflationary or recessionary environment and reveals why the team has invested in an Indian mobile company.

What's covered in this episode:
Bond market returns so far this yearWhy fixed income has struggled in 2022Why the manager thinks it has been an inflationary sell-off, not a...

May 11, 2022 11:00pm

193. Investing for income in Asia

Richard Sennitt, manager of Schroder Oriental Income Fund, talks about the regulatory issues in China and the impact the current lockdowns are having on both the domestic and global markets. He reveals the sectors and geographies across developed and developing Asia, where he is finding the most investment ideas, and outlines the nuance of rising inflation in the region. Richard gives his views on the outlook for dividends in the region and explains how some companies could defend their pay outs again if times get tough.

What’s covered in this podcast:
The regulatory is...

May 04, 2022 11:00pm

192. Why energy prices could remain high

Niall Gallagher, manager of GAM Star Continental European Equity fund, explains why European companies have such a global reach. He discusses the big trends of the growing middle classes in Asia and decarbonisation and explains how European equity investors can benefit. Niall also gives his view on why inflation could be here to stay and why Europe is in danger of locking in high energy prices.

What's covered in this episode:
Why investing in European equities isn’t just investing in EuropeHow you can get exposure to the growing Asian middle classesThe goods and serv...

April 27, 2022 11:00pm

191. Investing in fast-food and defence via UK smaller companies

Simon Moon, manager of Unicorn UK Smaller Companies fund, talks to us about recent performance of the sector vs its larger peers in the FTSE 100. He also talks about the opportunities today and reveals the companies he has recently invested in. Simon goes into detail about meetings with company management teams and discusses his holdings in fast food restaurants and firms benefiting from increased expenditure on defence.

What's covered in this episode:
How UK smaller companies have performed in recent monthsThe holdings that have been added to the fund, including Porvair and CohortHow m...

April 20, 2022 11:00pm

190. Value tilts, inflation proofing and the private equity opportunity

TB Wise Multi-Asset Growth fund manager Vincent Ropers talks us through the recent tilt towards value strategies in his portfolio amid hopes of a continued cyclical recovery. He also runs through his exposure to mining & natural resources, as well as infrastructure, and how these asset classes can help offer inflation-linked returns in these uncertain times. Vincent also discusses the attractive discounts available when accessing private equity companies in the investment trust market; and the importance of having a flexible mandate.

What's covered in this episode:
The importance of flexibility to the fundThe use of i...

April 13, 2022 11:00pm

189. The long and short of making money for investors

BlackRock European Absolute Alpha co-manager Stephanie Bothwell talks us through the benefits of being able to use long and short positions to manage investment risk, as well as how the portfolio has protected investors in what has been a very uncertain start to the year. She also talks us through the team’s decision to stop shorting the European banking sector and how the rising cost of fuel, utilities and food has made them cautious of the European consumer in recent times. Stephanie also explains why the fund is set up to provide investors with a differentiated return.

April 07, 2022 11:00pm

188. Building materials, healthcare, renewables and luxury goods – Europe is actually quite good at a lot of things

Barings Europe Select Trust co-manager Rosemary Simmonds tells us why the sector is often overlooked and underappreciated, despite having a number of growth drivers and innovation in numerous areas. She discusses the attractive valuations in the sector and why they are a safe bet for those looking for growth in a challenging environment. Rosemary also looks at the inflationary challenges facing the region and talks us through some of the companies that have benefitted off the back of the pandemic and the growing move to renewable energy.

Learn more on fundcalibre.com

Please...

April 06, 2022 10:00pm

187. The war has put petrol on the inflation fire – it’s hard to see when it will come under control

Darius McDermott and Juliet Schooling Latter return to discuss what has been both a busy and challenging start to 2022 for investors. They talk about how Russia’s invasion of Ukraine - coupled with the sharp rise in inflation – has created a difficult financial market for investors to navigate. They also discuss the sectors which have flourished and struggled in these unique times. The pair also look at the challenges facing open-ended property funds and whether the sector has a long-term future.
Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring i...

April 04, 2022 10:00pm

186. World Sustainable Energy Days: Renewable energy sources are just part of the net zero journey

VT Gravis Clean Energy Income fund advisor Will Argent explains why Europe’s move to renewable energy sources may accelerate as a result of Russia’s invasion of the Ukraine. He also explains why improving energy efficiency is just as important as bolstering renewable energy supplies in the move to net zero. Will also highlights the importance of battery storage in the renewable energy space and how rising energy prices impact the companies the fund invests in.
Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for yo...

March 30, 2022 11:00pm

185. Inflation proofing, the future of office space and the green building super cycle

TR Property Trust manager Marcus Phayre-Mudge talks us through how his portfolio has navigated the challenges of inflation and which sectors have benefitted best in this scenario. He also runs through the prospects for the office sector post Covid-19 and why we may well be set for a green building super cycle. He also explains why he sees greater potential for shopping centres in Europe over the UK and why he is bullish on the co-living sub-sector.
Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life fo...

March 28, 2022 11:00pm

184. It’s about being roughly right rather than precisely wrong

LF Ruffer Diversified Return managers Duncan MacInnes and Ian Rees talk us through their new product and explain why their “tractor over sports car” approach is hugely beneficial in these challenging times. The managers also explain why we are now at the end of a 30-year bull market and the implication that may have for investors looking for diversification. While capital protection is at the heart of their investment process, the pair also explain why the “always boring, always bearish” Ruffer tag is unfair and why they feel some companies in the commodities, industrials and financials sectors will perform well in...

March 23, 2022 11:00pm

183. The pandemic has highlighted the importance of digital infrastructure to society

Schroder Digital Infrastructure co-manager Tom Walker talks us through the key elements of the asset class and how the pandemic has highlighted its importance in society today. He also tells us why further growth in the sector is essential to meet challenges like the move to 5G and the rise of cloud computing. Tom also runs through the growth seen in digital infrastructure in recent years and why demand will differ between developed and emerging economies going forwards. He also explains how the sector has met sustainability concerns head on.

Learn more on fundcalibre.com<...

March 21, 2022 11:00pm

182. Flushing toilets and radio frequency technology: innovation at its best

It took nearly 130 years for the flushing toilet to become universal in US homes. But the adoption of new technologies has accelerated at a phenomenal rate in recent years and things like tablet computers took only a decade to become standard household items. Guy Feld (fund manager) and Tom Hutchinson (investment analyst), tell us more about the sheer scale of innovation taking place in the world today and where they are finding investment opportunities within the IFSL Marlborough Global Innovation fund.
Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to br...

March 16, 2022 11:00pm

181. Investing in bespoke healthcare, cybersecurity and robotics

Zehrid Osmani, manager of FTF Martin Currie European Unconstrained fund, discusses the three mega-trends in his fund: resource scarcity, the future of technology and demographic change. He touches on why geopolitical risks could accelerate the move to cleaner energy and both national and corporate spending on IT security and then details the interconnections between his themes and the advances in healthcare. He closes with his view on why European companies have a lot to offer investors.
Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you...

March 14, 2022 11:00pm

180. Our companies are not the most exciting – but they excite us

JOHCM UK Dynamic fund manager Alex Savvides says although the companies he invests in may not appear the most exciting – the potential for change and business transformation does offer exciting returns. He also explains why his fund is much more than just a value-orientated vehicle and what he looks for from management teams he hopes to invest with. Alex also talks us through the rampant M&A activity we’ve seen in the past year or so, and how he and his team had to fight for fair value when some of their holdings were bid for. He also tell...

March 09, 2022 10:00pm

179. Why COVID has been a genuine catalyst for positive change in the healthcare industry

James Douglas and Gareth Powell, co-managers of the Polar Capital Global Healthcare Investment Trust, talk us through the improvements in the healthcare industry as a result of the COVID-19 pandemic. The pair also discuss how the sector has responded to rising inflation and its ability to make further gains in the future. They also evaluate the recent challenges faced by some of the COVID winners in the healthcare space and why the likes of Moderna can still make gains in the future. The pair also analyse the potential for M&A activity to be the catalyst for a pick-up...

March 07, 2022 11:00pm

178. Increasing diversity and how it can change company culture

Research by McKinsey shows that companies with more women in executive leadership positions are more profitable. Yet only 41 of the CEOs on the Fortune 500 list, and just 8 of the CEOs of FTSE 100 companies, are women. In part two of our International Women’s Day special, we discuss board diversity, female CEOs and the role of asset management to further change.

We’re joined by Alexandra Jackson, manager of Rathbone UK Opportunities; Deirdre Cooper, co-manager of Ninety One Global Environment; Kirsty Gibson, co-manager of Baillie Gifford American; Sophia Li, co-manager of FSSA Japan Focus and Tessa Wong, product speci...

March 07, 2022 10:00pm

177. Why are there more ‘Dave’ than women fund managers?

Just 14% of fund managers are women - a figure that has stayed the same since the year 2000. In fact, there are more fund managers named Dave than there are females. Why does this imbalance persist more than two decades later? To mark both Careers Week here in the UK, and International Women’s Day on 8 March, we tackle this question and more in part one of our Women’s Day special.

We’re joined today by Alexandra Jackson, manager of Rathbone UK Opportunities; Deirdre Cooper, co-manager of Ninety One Global Environment; Kirsty Gibson, co-manager of Baillie Gifford American...

February 28, 2022 10:00pm

176. Why the shine has come off Amazon, PayPal and Meta

Stephen Yiu, manager of LF Blue Whale Growth fund, talks to us about why he has never held Netflix or Zoom and why he thinks they are struggling today. He also gives his reasons for selling out of Amazon, PayPal and Meta recently and says what would need to change at Facebook for him to reinvest. He also discusses the opportunities in 5G and digital transformation, as well as the importance of pricing power and gross margins in today’s inflationary environment. He finishes by detailing new investment, Charles Schwab.
Learn more on fundcalibre.com

Pl...

February 24, 2022 1:00am

175. The dominance of growth companies is coming to an end

Alexandra Jackson, manager of Rathbone UK Opportunities, tells us why the dominance of growth companies may be coming to an end and a more balanced approach is required in today’s environment. She also tells us which companies she has held on to, which she has sold and which she is buying. The outlook for banks is discussed and why consumers will spend money on services rather than goods this year. The conversation ends with the prospects for IPOs and whether M&A activity will continue in 2022.

Learn more at fundcalibre.com
Learn more on fu...

February 21, 2022 10:00pm

174. Artificial intelligence: how it is changing the world and our investment options

Chris Ford, manager of Sanlam Artificial Intelligence fund, discusses the ins and outs of AI. He tells us what artificial intelligence is, why the world needs it, and explains why Asian companies are embracing its adoption at a faster rate than those in the West. Chris also talks about the risks and how AI is being regulated differently around the world, and outlines why the UK has “been a disgrace” in respect of its willingness to back AI companies, but how our home market could still benefit from its growth.
Learn more on fundcalibre.com

Plea...

February 16, 2022 10:00pm

173. Why it takes 18 months for interest rate rises to have an impact

Veteran fund manager Richard Woolnough explains inflation and interest rates and their impact on bonds in this very educational podcast. As the cost of living continues to rise here in the UK and elsewhere around the world, Richard discusses the role of central banks, the desire to find a ‘neutral’ rate and how far and how high he believes interest rates will rise in the coming months. He also discusses how long it could take for interest rate rises to have a meaningful impact on the economy,

Learn more on fundcalibre.com

Please reme...

February 09, 2022 6:00pm

172: Making the most of a multi-decade period of strong commodity demand

Evy Hambro and Olivia Markham, co-managers of the BlackRock World Mining Trust, discuss what they call the “multi-decade period of strong demand for commodities”. They explain the essential role commodities play in our lives now and how they will help us transition to a ‘net zero’ future. They also cover how the trust generates an income, the ESG matters they have to consider when investing in mining companies, and reveal the role they think the trust can play in a wider portfolio.

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February 08, 2022 9:00am

Trailer: Introducing the Investing on the go podcast

Investing on the go gives you direct access to the people who manage your ISA and pensions savings. Our hosts will be interviewing finance professionals on everything from their successes and failures to current ideas and insights. Our ultimate goal is to bring to life the world of investments and uncover new and exciting opportunities, all while inspiring you to invest and giving you the confidence and knowledge to make the right decisions.

For more investment research visit us at www.fundcalibre.com and follow us on twitter and facebook @FundCalibre

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February 02, 2022 10:00pm

171. What are cryptocurrencies and should I invest?

In a slightly different format to usual, Darius McDermott and James Yardley discuss cryptocurrencies. They talk about how they have evolved, where they are being used in everyday life, and touch on what they could change in the future. With new terms to learn such as Stablecoins, tokens and NFTs, James and Darius do their best to debunk the myths and explain the opportunities that lie in this new area of digital payments and platforms.

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January 26, 2022 11:00pm

170. Is the recent tech sell-off just the beginning of a stock market correction?

Darius McDermott and Juliet Schooling Latter return to discuss the major issues impacting markets in the final quarter of 2021 and the first few weeks of 2022. They talk about inflation, the recent sell-off in technology and growth stocks and discuss the role value funds have in a portfolio. Darius says that the US central bank has already made a policy error and Juliet reveals the areas she thinks are worth considering this ISA season.
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January 19, 2022 10:00pm

169. Investing in public and private equity

Schroder British Opportunities Trust was launched just over a year ago in response to the pandemic. Portfolio manager Rory Bateman, and UK small and mid-cap analyst Uzo Ekwue, tell us more about the opportunities they are aiming to exploit. They discuss the differences between private and public equity investing, and give examples of the high growth and undervalued UK companies they are targeting.
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January 12, 2022 11:00pm

168. Investing in global champions and future winners

UK managing director, Chris Miles and Steve Smith, an investment director on the Capital Group New Perspective fund, join Darius McDermott for this week’s podcast. They tell us about the group and their unique approach to investing, before going into detail about how they find existing and potential global champions in which to invest. Steve also gives us the lowdown on Tesla – a company that divides investors - and SEA Limited.
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January 05, 2022 11:00pm

167. Backing the world’s most famous investor

Ben Wallace, co-manager of Janus Henderson Absolute Return fund, talks about his investment in Warren Buffet’s company, Berkshire Hathaway – and how the sum of the parts is worth more than the value of the group. He discusses the areas where the fund is long (looking for share prices to rise) and where it is short (looking for share prices to fall). And if he could wave a magic wand, he tells us he’d wish for a little more volatility, slightly higher bond yields and interest rates, and for the UK not to be the worst performing stock market...

December 22, 2021 11:00pm

166. Investing in a new wave of technology adoption

“It’s been a good year for returns for the technology sector, but it doesn't feel like it's been a good year. We've had to work hard for returns.” Jeremy Gleeson, manager of AXA Framlington Global Technology fund, talks to us about the outlook for the technology sector, a new wave of technology adoption and the proliferation of semiconductors into all manner of end markets. He also covers the difficulties of finding pure tech plays in Japan and the best gadgets to buy this Christmas.

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December 15, 2021 11:00pm

165. From cash to corpses – taking advantage of Japan’s risk averse nature

Baillie Gifford Shin Nippon investment trust manager Praveen Kumar talks to us about the conservative nature of Japanese companies and how he is tapping into a new breed of business-owner who is willing to take more risks to grow. He also explains why encouraging these younger, dynamic and entrepreneurial business owners is crucial to the economy, particularly in the non-manufacturing space. Praveen also talks us through the growth of end of life services business Kamakura Shinsho as an example of a disruptor which is taking risks to grow and why he has to be patient when investing in these...

December 08, 2021 11:00pm

164. How changing our diets can help win the battle with biodiversity loss

Federated Hermes engagement and stewardship manager Sonya Likhtman talks us through the challenges of biodiversity loss and how they are intertwined with climate change. She also highlights how changing our diets and the rise of technology can help turn the tide against the pending biodiversity threat. Sonya also explains the importance of the COP 15 conference, which could hopefully pave the way for a global framework to tackle biodiversity loss, as well as explaining how financial firms and investors can raise awareness in this space.

What is biodiversity?
Whether it is the air you breathe...

December 01, 2021 11:00pm

163. Investing in a market that gives you grey hair

“My fund is up over 20% in the past year, but it's been the sort of bull market that gives you grey hair,” said James Thomson, manager of Rathbone Global Opportunities fund. In this podcast, James tells us that US companies are growing profits more than four times faster than the rest of the developed world. He talks about his top ten holdings including Alphabet, owner of Google and YouTube, “the king of search, online advertising spend, and my daughter's favourite venue for videos about how to make slime and squishies.” He also tells us why Costco will blossom “in a world of...

November 24, 2021 11:00pm

162. I lay awake at night wondering what airport travel looks like in the future

M&G Global Listed Infrastructure fund manager Alex Araujo explains how he invests in businesses taking advantage of rising energy prices and why there is a big opportunity in the utilities’ sector at the moment. He also details the impact of Covid on the sector, including the paradigm shift towards digital infrastructure. Alex also talks us through the ongoing recovery in transport infrastructure but warns us that he still has some nagging concerns over the long-term success of airports. He also explains how he takes advantage of the rapid growth of e-commerce and why blockchain, crypto and healthcare are all li...

November 17, 2021 11:00pm

161. Outperforming against the odds

Hugh Sergeant, manager of ES R&M UK Recovery fund, explains how his fund has managed to outperform even though his style of investing has been out of favour. He tells us why multiple holdings are good for value strategies, but fewer holdings work better for growth strategies, and discusses the reopening trade and outlook for the UK economy. He reveals why he has recently invested in Fidelity China Special Situations and Baidu and tells us why level concrete has produced the best performing stock in his portfolio.
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November 10, 2021 10:00pm

160. Why India has a larger pool of quality companies than other emerging markets

Rasmus Nemmoe, manager of the FSSA Global Emerging Markets Focus fund, talks to us about the outlook for emerging markets and the factors in play today that could mean they perform better in the next decade than the last. He explains why the pool of great businesses in India is a lot bigger than in most other markets and tells us about United Breweries, the Indian Heineken subsidiary, which has been the best performing stock in the portfolio so far this year.
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November 03, 2021 11:00pm

159. The potential of Pinterest

Maneesh Bajaj, manager of the Brown Advisory US Flexible Equity fund, gives his on the ground perspective of how the US economy is recovering from the pandemic and how companies may do in 2022. He talks about long-term holdings Visa and MasterCard and outlines the investment case for Pinterest. Maneesh also tells us how Netflix’s ‘Seaspiracy’ prompted engagement with a frozen fish supplier.
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October 27, 2021 10:00pm

158. The opportunities for the next 20 years will be more impactful to humanity

In this episode, Lawrence Burns, deputy manager of the Scottish Mortgage Investment Trust, talks to us about some of the radical thinkers who are changing the world, including one who is building the world’s first entirely 3D printed rocket. He also explains why the trust was one of the early backers for Elon Musk’s long-term vision for Tesla. Lawrence also talks about why Covid might be a catalyst for Moderna, and why mRNA might be the start in terms of creating new vaccines for the likes of flu and HIV. He also explains why inflation and interest rates do n...

October 20, 2021 11:00pm

157. The best performing funds during the third quarter of 2021

Juliet Schooling Latter and Darius McDermott return to discuss the major issues impacting markets in the third quarter of 2021. They talk about top performing Indian equities, Japanese equities and financials companies. They also give their views on inflation and fuel shortages and tell us if investors should be worried about all the recent regulatory interventions in China. They finish with their outlook for the last few months of the year.
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October 14, 2021 2:03am

156. We never thought China's ambition was to be like America tomorrow

Simon Edelsten and Alex Illingworth, managers of the Mid Wynd International Investment Trust, tell us why governance issues played a key role in their decision to sell all of their holdings in China. The pair also discuss the role of healthcare and automation as key themes in their portfolio and why they hold Pfizer despite being adverse to large pharmaceutical companies. The managers also tell us why the best returns from wind farms, as a low carbon theme, are behind us.
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October 06, 2021 11:00pm

155. Helping fund managers make better investments

Kate Elliot, head of ethical, sustainable and impact research at Rathbone Greenbank, explains what her team does and how it helps Rathbone fund managers make the best sustainable investments. She tells us how ethical investing has evolved over time, why greenwashing is a challenge. She also gives examples of when a company may be vetoed or when engagement can become necessary. Finally, she tells us why biodiversity is a growing area of interest.
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October 04, 2021 11:00pm

154. Investing for a cleaner, healthier and safer world

Mike Appleby, investment manager and part of the team behind the Liontrust Sustainable Future range, talks to us about the three megatrends underlying their investments: a cleaner, healthier and safer world. He discusses decarbonisation, how it’s not just about treating symptoms better but also encouraging healthier lifestyles and the different products and services that help us live our lives in a more relaxed fashion.
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September 29, 2021 11:00pm

153. When is the best time to invest in China?

Having invested in China for more than two decades, Martin Lau, manager of FSSA Greater China Growth fund, is ideally placed to explain what is happening with real estate giant Evergrande. He explains the issues in the Chinese property market and why the government is keen to tackle high prices, puts the regulatory interventions of the past few months into perspective, and reassures investors that Chinese still represents a good long-term investment.
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September 22, 2021 11:00pm

152. What investors are missing with BP and Shell

Anthony Cross has managed the Liontrust Special Situations fund since its launch in 2005. In this podcast, he tells us why the valuation of a stock may not matter if the company can compound over time. He discusses the attractions of BP and Shell and goes into detail about the intangible assets he and his co-managers look for when investing in a firm. Anthony also discusses the importance of company culture and tells us where he is finding opportunities today.
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September 15, 2021 11:00pm

151. Strength in simplicity and making money in emerging market bonds

John Stopford and Jason Borbora-Sheen became managers of Ninety One Cautious Managed in May 2020. In this podcast, Jason discusses the performance of the fund and the changes made since they took. He also tells us why risks are increasing for equities, reveals why he likes emerging market bonds, financials and healthcare and gives his outlook for both equities and bonds in the next 12-18 months.
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September 08, 2021 11:00pm

150. The firms paying off their pandemic debt

Lesley Dunn, co-manager of Baillie Gifford Strategic Bond fund, talks to us about how company balance sheets are recovering after the pandemic. She discusses the amount of money firms had to borrow to keep themselves afloat in lockdown, the price they had to pay to do so, and how some are now looking to reduce their debt. Lesley also gives her view on inflation and discusses the investment case for Netflix’s bond – despite the company “burning cash” in its bid to create original content.
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September 01, 2021 11:00pm

149. Finding multi-baggers in emerging markets

John Citron, co-manager of JPMorgan Emerging Markets trust, tells us how emerging markets have changed over the past decade. He also discusses the new sectors that are appearing and the new opportunities that are available. John also reveals that Walmex is the trust’s longest-standing holding and tells us why it has been such a good investment for almost 30 years and why it remains so today. He also tells us about the trust’s newest investment and explains the regulatory issues in China.
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August 25, 2021 11:00pm

148. How a bout of gout led to an investment in Beyond Meat

Neil Goddin, co-manager of Artemis Positive Future fund, tells us how a bout of gout led him to invest in Beyond Meat. He explains how the new fund targets companies making positive environmental and social impacts and discusses the healthcare and education sectors and the opportunities their lack of innovation to date is creating for disruptive companies. Neil discloses that the two key questions he asks potential investments is about their plans to be net zero and the extent of their diversity, and ends with the reasons he likes Shopify.
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August 18, 2021 11:00pm

147. Investing in “compelling” UK, welcome rate rises and steering clear of Bitcoin

In an investment version of the game “Would you rather…”, Darius McDermott, managing director of FundCalibre and Chelsea Financial Services, gives his views on the current opportunities in the market. Discussing interest rates, China, absolute return funds, bonds, Bitcoin and more.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of F...

August 11, 2021 11:00pm

146. Why a small population can help a company grow

David Walton, manager of Marlborough European Multi-Cap fund, tells us why so many European companies are still undiscovered by investors. We learn why a small population in Sweden can be beneficial to company growth and why difficult politics in Italy can lead to good opportunities. The podcast ends with a discussion about M&A activity picking up on the Continent.
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August 04, 2021 11:00pm

145. Investing in robotic arms and Nike destination stores

David Coombs, manager of Rathbone Strategic Growth Portfolio, talks to us about a range of alternative investments and how you can make money from the volatility in emerging market currencies and interest rate expectations. He also talks about the idiosyncratic risk in music royalties, using Taylor Swift as an example, and tells us about investing in the entire retail value chain and the companies fighting back against Amazon.
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July 29, 2021 3:20am

144. Why confusion over conviction will lead to bouts of volatility

Church House Tenax Absolute Return Strategies co-manager James Mahon tells us why low bond prices have caused more confusion than conviction in the market at the moment – and why he thinks it will result in numerous bouts of volatility. He also tells us why the global economy was not prepared for the bottleneck in demand for production and staff availability, resulting in higher than expected inflation figures. James also talks us through the use of floating rate notes as a way of protecting his fund and why the UK is set for a protracted recovery.
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July 21, 2021 11:00pm

143. How mother nature helps and hinders insurance

“Insurance is a get rich slow kind of an industry” says Nick Martin, manager of Polar Capital Global Insurance fund. But while my parents may have hidden from the door-to-door insurance salesman of the 1980s for fear of having to listen to an hour-long monologue, the industry is anything but boring for investors. Nick talks us through mother nature and the emergence of secondary perils, how coral reefs and mangroves are helping insurers and why inflation is more of threat for future pharmaceutical liabilities than our car insurance.
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July 14, 2021 11:00pm

142. How women could change the fortunes of the Japanese economy

While inflation numbers have picked up sharply in the US and the UK, Japan is still battling deflation. John-Paul Temperley, deputy manager of AXA Framlington Japan fund, tells us why women could play an important role in getting inflation back into the economy, describes the “stealth move” of the Japanese stock market and tells us that while Japan may not have the sexy internet companies of the US, it’s tech-related profit margins are far higher.
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July 07, 2021 11:00pm

141. Brazil and European real estate dominate the second quarter of 2021

Juliet Schooling Latter and Darius McDermott return to discuss the major issues impacting markets in the second quarter of 2021. They talk about top performing Brazilian equities, European real estate funds and UK smaller companies. With inflation proving stickier than first anticipated, they give their views on how high prices could go, before discusses whether the big technology companies have become too expensive and why cheap UK companies are being snapped up by buyers.
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July 05, 2021 11:00pm

140. Why small-caps are the place to be in this part of the economic cycle

Simon Moon, manager of the Unicorn UK Smaller Companies fund, tell us why smaller companies are the place to be in this stage of the economic recovery. He also talks us through why small-caps can be leaders in the ESG space, despite being overlooked by a number of credit rating agencies. He also explains why a business like Braemar Shipping Services can benefit from the blocking of the Suez Canal and why market-leading steel company Severfield has more strings to its bow than just office development. Simon also covers how M&A activity can be both a blessing and a...

June 30, 2021 10:00pm

139. Europe: Inflation, M&A and the return of the tourist

Every year, European companies source more and more of their revenues from outside the continent. In this podcast, Niall Gallagher, manager of GAM Star Continental European Equity, tells us about this, the debt-laden balance sheets of long-haul carriers, and why private equity firms find it harder to make takeover bids in Europe than in the UK. With pricing power beginning to return along with very strong wage growth, Niall also gives his views on inflation and different types of company that can benefit from rising prices and interest rates.
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June 24, 2021 2:17am

138. Why a card is a trojan horse for the untapped online gifting market

Charles Luke, manager of the Murray Income Trust, tell us the UK mid-cap space is an overlooked and under-appreciated segment of the market, which is full of companies with excellent growth potential. He also talks us through his investment in Moonpig and why cards could be a trojan horse for the untapped online gifting market. He also goes into detail about how he builds a portfolio that can do well in any economic environment and why overseas holdings are such an important part of the offering. Also covered is the benefits of the trust’s recent merger with the Perpetual In...

June 16, 2021 11:00pm

137. Obsessing about growth stocks and reappraising inequalities in society

Nick Clay, manager of TM RWC Global Equity Income fund, tells us about his new fund, the old favourites he’s invested in, and explains how he achieves a yield 25% greater than that of the market. He discusses reappraising the inequalities in society, interest rates, inflation and the market’s obsession with growth stocks. Finally, he tells us how the income opportunities in the US have grown and where he’s finding opportunities in the technology sector.
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June 10, 2021 2:33am

136. Taxing the cryptocurrency traders

From tax returns to elective surgeries, and from national grids to who’s watching what on TV, there are plenty of attractive franchise opportunities to be found around the world. In this interview, Bertrand Cliquet, co-manager of Lazard Global Equity Franchise fund, tells us about the three ways he and the team make money for investors, why they don’t hold Amazon and why cryptocurrency gains could benefit one of their stocks.
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June 02, 2021 10:00pm

135. Why volatility can be your friend when it comes to A-shares

Rebecca Jiang, co-manager of the JPM China Growth & Income Trust, talks us through the growing opportunity in the A-Shares market and the importance of tapping into structural growth themes like technology, healthcare and consumption as China moves to a capital light growth model. She also tells us about the Chinese governments’ ESG agenda and why fears of inflation will not lead to another commodities bull market.
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May 26, 2021 11:00pm

134. Diversity, inclusion and how to manage fund managers

Have you ever wondered what it’s like to be in charge of a ‘stock’ of fund managers? (it’s the best idea for a collective noun we could find ongoogle). In a slightly different interview to the norm, Stephanie Butcher,chief investment officer at Invesco reveals all. She tells us about her roleand discusses diversity and inclusion projects and unconscious bias. Shedescribes the work she does with schools and universities and finishesby telling us how the team has dealt with the rise of cryptocurrenciesand retail day traders.
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May 19, 2021 11:00pm

133. Investing in global brands and regional champions

Laura Bottega, managing director and lead portfolio specialist on the Morgan Stanley Global Brands fund, discusses the growth vs value conundrum, rising inflation and the benefits of scale. She highlights the companies that, during the pandemic, used the time to invest in their digital offerings, to expand e-commerce and social media and to advance the new trend of hyper-personalisation, and discusses potential future opportunities in ‘regional champions’.
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May 12, 2021 11:00pm

132. The psychology of Robinhood traders and why Baby Boomers fear inflation

In a slightly different format to the usual Investing on the Go podcast, Morgan Housel, the author of The Psychology of Money, and Mick Dillon, manager of Brown Advisory Global Leaders fund discuss behavioural finance and the psychology of money. They cover 19-year-old Robinhood investors trading 5,000 a day and why long-term investing is not intuitive to young people, why Baby Boomers are more worried about inflation than Millennials or Generation X and why the fight for an analytical edge in investing is becoming absurd.
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May 05, 2021 11:00pm

131. Living through the great tug of war between value and growth

John Bennett, manager of Janus Henderson European Focus, takes us on an eloquent journey around the continent in this podcast. With topics including V-shaped recoveries 1.0 and 2.0, the great tug of war between growth and value, how the S&P 500 became the S&P5, jumping on the ESG bandwagon, wooden satellite experiments, the winner in the salmon vs red meat argument and the posturing of President Macron – there’s something for every investor.
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April 28, 2021 11:00pm

130. Making the most of investment opportunities in Asia

Richard Sennitt, the new lead manager for Schroder Asian Alpha Plus fund, talks to us about taking over the fund. He discusses the outlook for Asia, tells us which sectors and countries he favours, and gives his views on the ongoing trade wars between China and the US. He also tells us why US interest rates and bond yields should be less of an issue for Asia today and explains why Northern Asian economies have performed better than those in the south.
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April 27, 2021 11:00pm

129. The investment trends dominating the first quarter of 2021

In a slightly different format to usual, Juliet Schooling Latter and Darius McDermott discuss the major issues impacting markets in the first quarter of 2021. They explain the rising yield curve and why it matters for investors and outline why value has started to outperform growth. With social media groups influencing stock markets they also discuss how fund managers have dealt with the investment activism, before revealing the story behind the semiconductor shortage.
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April 21, 2021 11:00pm

128. Why infrastructure investing is poised for great things

Alex Araujo, manager of M&G Global Listed Infrastructure fund, tells us about the different types of company that he invests in. He discusses which he thinks are the most exciting opportunities today, and gives examples of holdings and why he likes them, including China Gas Holdings and Home REIT. He also discusses the income-producing opportunities in the sector and tells us why he had to sell a business due to sustainability issues - and how this demonstrates the importance of independent scrutiny when it comes to ESG investing.
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April 14, 2021 10:00pm

127. Exciting investment trends in Japan and the art of Nemawashi

Andy Brown and Thomas Patchett, investment specialists for Japanese equities and product specialists on the Elite Rated Baillie Gifford Japan Trust, discuss whether the pandemic has encouraged change in a country with a reputation for being slow to adapt. They talk about the increase in young entrepreneurs, the long-term trends exciting investors and the three elements to Sumitomo Metal Mining company that makes it an attractive investment in their eyes.
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April 07, 2021 11:00pm

126. Rising inflation: We’re on the brink of something different for the first time in decades

Chris Bowie, manager of the TwentyFour Absolute Return Credit fund, talks us through bond markets adjusting to the looming threat of inflation and how this plays into his preference for short-dated bonds for capital protection. He also explains why rising inflation will not result in rising interest rates in the next couple of years, as well as the opportunities he is finding in the banking and insurance sectors.
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March 31, 2021 10:00pm

125. Making money from snacks, lifts and Vietnamese dairy companies

Charlie Dutton, manager of Ninety One Asia Pacific Franchise, tells us why Asia is no longer a play on global growth, but is now full of quality companies that can grow no matter what the economic environment. He also discusses the increasing opportunities in ASEAN countries and explains why he sometimes invests in firms listed outside the Asia region. He ends the interview with an example of why the sheer scale of some Asian economies makes for interesting opportunities for investors.
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March 24, 2021 11:00pm

124. Using former investigative journalists to research investments

Sudarshan Murthy, deputy manager of GQG Partners Emerging Markets Equity fund, explains why the team comprises not only those with investment backgrounds but also former investigative journalists and scientists. He also gives his view on the outlook for China and Brazil, talks about technology and financials and reveals why banks – which are a value play in developed markets – are a growth story in emerging economies.
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March 17, 2021 11:00pm

123. Why boring investments can be the most rewarding

Brendan Gulston, co-manager of LF Gresham House UK Multi Cap Income, explains how the fund still managed to yield 3.3% last year, despite UK dividends falling 44%. He also tells us why he avoids some cyclical areas, why actuaries and insurance can be interesting investments and how his small, mid and private equity heritage helped identify a company to invest in at IPO. Brendan closes the interview with his views on the growing market for renewable energy storage.
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March 10, 2021 11:00pm

122. What hotel choices can tell you about company CEOs

Chris St John has managed the AXA Framlington UK Mid Cap fund since launch in 2011. In this podcast he talks to us about cross-border frictions post-Brexit and why the hotel choice of a CEO can be telling. He also touches on trends accelerated and started by the pandemic, M&A activity and why he thinks Dunelm and Pets at Home are good long term investments.
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March 03, 2021 11:00pm

121. Why revenue reserves are so useful for income investors

Sue Noffke has been running Schroder Income Growth Fund for the past decade. In this episode, she tells us which shares she has owned throughout the whole ten years and which have contributed most to performance. She also discusses the outlook for UK equities and dividend payments, and tells us how she used the revenue reserve in 2020 – but has plenty left should it be needed again.
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February 24, 2021 11:00pm

120. Why inflation could be stronger than people expect

Richard Woolnough has managed M&G Optimal Income fund since its launch 15 years ago. In this episode he looks back over 2020, looks forward to 2021, and tells us what the combination of central banks and governments focusing on growth, pent-up consumer demand and weaker companies having already failed, means for fixed income this year. Richard also gives his view on inflation, which he says has a stronger impetus today than a decade ago.
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February 17, 2021 11:00pm

119. Why the average Indian consumes 3.5 times as much data as the average Brit

There are a number of long-term structural growth themes in India. From a base of almost zero, the government has a target of having 100% electric vehicles by 2030, for example. And as the average Indian consumes three and a half times as much data as the average Brit, smartphone and internet opportunities abound. Mithran Sudhir, one of the managers of the Goldman Sachs India Equity Portfolio tells us about these themes, the reforms taking place in the country and more.
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February 10, 2021 11:00pm

118. Could the US now take a leading role on the global environmental stage?

With just 20% penetration of renewables, 5% electric vehicles and the potential to cut emissions by 40% simply by making buildings more energy efficient, the environmental opportunities in the US are now plentiful according to David Harrison, manager of Rathbone Global Sustainability fund. He talks to us about this, opportunities in Asia, sustainable cities, semi-conductors, and the UN’s Sustainable Development Goals.
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February 03, 2021 11:00pm

117. Investing in airports, mobile towers and renewables

International air traffic has declined more than 90% during the pandemic. Peter Meany, manager of First Sentier Global Listed Infrastructure, talks to us about when airports may recover. He tells us why toll road recovery is exciting, how areas like mobile towers and data centres have performed strongly, and why we will still need gas to help us transition to cleaner energy. He also tells us how the fund’s income has fallen just 10% compared with falls of 40%-50% in other areas.
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January 27, 2021 11:00pm

116. China: the opportunities and concerns for investors in 2021

Dale Nicholls, manager of Fidelity China Special Situations, discusses the US/China relationship under Biden and tells us about the inter-regional trade deal signed in Asia last year. He also reveals how much of the Chinese economy has reopened post-COVID, discusses technology holdings and the Chinese consumer, and gives his outlook for the country in 2021.
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January 20, 2021 11:00pm

115. UK small caps: making money from toilet rolls, spectacles and Hollywood films

Paul Marriage, co-manager of TM Tellworth UK Smaller Companies, talks to us about how the UK’s small business sector dealt with the pandemic, tells us how it was well-prepared for Brexit and how it could now benefit from overseas investors returning to UK waters. He also gives us examples of UK companies buying out competitors and tells us about one firm that has made the most of social-distancing in the film industry.
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January 13, 2021 9:59pm

114. A masterclass in interest rates, inflation and fixed income

Gary Kirk, co-manager of TwentyFour Dynamic Bond fund, talks to us about the outlook for interest rates and inflation. He explains subordinated bank bonds and asset backed securities and tells us why they are attractive for investors in today’s environment. For anyone wanting to learn more about fixed income and how it works, this podcast is highly educational.
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January 06, 2021 10:00pm

113. Reflecting on 2020 and the madness of markets

A lot happened in 2020 and, to make sense of all that happened, FundCalibre’s Staci West breaks down the biggest topics of the year and most memorable moments. From the global pandemic to negative oil prices, the US election and UK dividends, she talks about the impact each had on our investments.
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December 30, 2020 10:00pm

112. Where would you rather invest in 2021?

In an investment version of the game “Would you rather…”, Darius McDermott, managing director of FundCalibre and Chelsea Financial Services, gives his outlook for 2021. Discussing equities, bonds, commodities and technology, he gives his view on what areas of the market could do well next year and what areas may continue to struggle.
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December 22, 2020 10:00pm

111. Investing in healthcare during a global pandemic

Healthcare has been very much under the microscope this year with the world facing a global pandemic and the race to find a vaccine. In this podcast, James Douglas, manager of Polar Capital Global Healthcare Trust talks to us about the vaccine rollout, the impact of a new US president on US healthcare companies, the increasing opportunities in emerging markets and gives his outlook for the sector in 2021.
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December 16, 2020 10:00pm

110. Investing in big tech and the golf gadget you might like for Christmas

Technology companies have been driving stock market performance this year – not just in the US but also in Asia. In this podcast, AXA Framlington Global Technology fund manager Jeremy Gleeson tells us about the different companies, large and small, reveals the areas where he is finding opportunities and gives his outlook for the sector in 2021. All the golf-lovers out there may also be interested in a piece of tech he’d like for Christmas…
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December 09, 2020 11:00pm

109. UK smaller companies: reaching beyond the white cliffs of dover

While technology companies only make up about 1% of the FTSE 100, there are plenty to be found in other areas of the UK stock market. Guy Feld, co-manager of the Marlborough UK Micro-Cap Growth fund, and Eustace Santa Barbara, co-manager of Marlborough Special Situations fund, tell us more about the AiM market. Home to 84 technology companies, more than a third of the firms listed are also headquartered or have the majority of their operations outside the UK. Investing in UK smaller companies can be a route to growth stories around the world…
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December 02, 2020 10:00pm

108. How to make money when everyone else is losing it

Mike Riddell and Kacper Brezniak tell us why they believe most strategic bond funds behave like equities. They talk us through how the fund actually managed to make money during the market falls earlier this year, tell us why they like emerging market debt and emerging market currencies, and explain how negative yields on Japanese bonds can turn positive for sterling investors.
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November 25, 2020 11:01pm

107. Can smaller companies outperform in 2021?

Peter Ewins, manager of BMO Global Smaller Companies trust, tells us why smaller companies have lagged their larger peers in recent years, explains why they have been given a boost by positive news on vaccines and discusses whether they can outperform in 2021. He also gives us a deeper insight into Japanese smaller companies, explaining why they are benefiting from China’s recovery, particularly in the automotive supply chain.
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November 18, 2020 11:00pm

106. Making cheeky bids for good companies at rock-bottom prices

Alex Savvides, manager of JOHCM UK Dynamic, talks to us about the recent “vaccine value rally” and gives his thoughts on the possibility of Brexit deal and the impact COVID-19 has had on company readiness for our withdrawal from the European Union. Alex also discusses the recent uptick in merger and acquisitions and tells us that overseas companies are making “cheeky bids” for good companies at rock-bottom prices.
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November 11, 2020 11:00pm

105. L’Oréal, Campari and Schindler lifts: quality companies in Europe

Threadneedle European Select co-manager, Ben Moore, uses Warren Buffet’s pinball machines and L’Oréal’s acquisition of Kiehls to explain organic and inorganic growth of reinvested capital in this podcast. He also tells us why Campari still being a vital ingredient for most bartenders is a good thing for investors and debunks the myth that industrial companies are all about metal-melting furnaces.
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November 05, 2020 2:51am

104. Could we have a vaccine before Christmas?

Could we have a vaccine before Christmas? Is this the final stage of the COVID turndown? After all the doom and gloom and recent months, Giles Rothbarth, co-manager of BlackRock European Dynamic, gives us hope: “Never has so much human capital and effort been focused on solving just one problem,” he said. “We have five shots on goal between now and Christmas with an 80% chance of hitting the back of the net.”
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November 04, 2020 11:00pm

104. Could we have a vaccine before Christmas?

Could we have a vaccine before Christmas? Is this the final stage of the COVID turndown? Are companies and consumers better prepared for lockdown 2.0? After all the doom and gloom and recent months, Giles Rothbarth, co-manager of BlackRock European Dynamic, gives us hope: “Never has so much human capital and effort been focused on solving just one problem,” he said. “We have five shots on goal between now and Christmas with an 80% chance of hitting the back of the net.”

November 04, 2020 4:58am

103. The US election: an early take for investors as votes are still counted

As the votes are still being counted, James Ashley, chief markets strategist at Goldman Sachs, gives the Investing on the Go podcast listeners his early take on the US election. James outlines the key States still to call, tells us about the role of the House and the Senate, and discusses what investors can expect in terms of stock market reaction. He also tells us why the US election isn’t the only story in town and why investors shouldn’t write off emerging markets.
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October 29, 2020 12:00am

102. Americans: repairing, remodelling and ready to vote

Hugh Grieves, co-manager of LF Miton US Opportunities, tells us about the stocks that have benefitted from American’s continuing to work, but stopping going out. He explains why the US economy is like a four-lane highway with just one lane badly in need of repair, tells us about the potential impact of a Biden election win, and gives us examples of firms that once dominated the US stock market, but which have since fallen from favour. Will Apple meet the same fate?
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October 26, 2020 12:00am

101. US company dividends: more increases than cuts

While dividend cuts in the UK have been numerous, leaving income investors in uncertain territory, the US has fared a lot better. Fiona Harris, investment specialist for the JPM US Equity Income fund, tells us that just 13% of S&P 500 companies have cut or suspended their payments while more than 40% have raised or started them. She also discusses a number of holdings in the fund, including Morgan Stanley and NextEra, and talks about the US election.
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October 22, 2020 11:02pm

100. The race for a vaccine and avoiding fast fashion

The 100th episode of the Investing on the go podcast is a fascinating chat with Ketan Patel, co-manager of EdenTree Amity UK, who discusses a range of responsible investing issues from fast fashion to healthcare and the problems bringing a vaccine to market quickly. Ketan also gives his view on the long term outlook for UK equities and tells us why he thinks real estate is challenged.
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October 21, 2020 11:00pm

99. Just 10 years left to achieve the UN’s Sustainable Development Goals

It’s five years since the UN’s Sustainable Development Goals were introduced and there are 10 years left to reach their aims. David Harrison, manager of Rathbone Global Sustainability, talks to us about what has been achieved so far, where improvements are required and how the investment community and this fund uses them to invest responsibly. David also discusses company behaviour, fund performance and the exciting trend towards greener infrastructure.
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October 14, 2020 10:00pm

98. Water scarcity, labour issues and human rights

Biodiversity 8 million or so plants, animals and bacteria species on the planet and their ecosystems. In this podcast, Jamie Jenkins, co-manager of BMO Responsible Global Equity, talks to us about how this relates to water scarcity. He also discusses his engagement with companies around labour and human rights issues and tells us about the technology companies held in the portfolio.
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October 07, 2020 11:00pm

97. Why we could be through the worst of the UK dividend cuts

Job Curtis, manager of City of London investment trust, tells us how he dipped into the revenue reserves to enable the trust to increase its dividend payment for the 54th consecutive year. He reassures investors that he still has around four years’ worth of reserves should the challenges continue, but that he believes we could be through the worst and that UK dividends could already be starting to recover.
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September 30, 2020 11:00pm

96. Why social issues have been wrongly ignored by investors

ESG has become a more prominent part of the fund management industry over the past couple of years, but the focus has really been on the E (environment) and G (governance). In this podcast, Katherine Kroll, senior sustainable investing specialist at Brown Advisory, talks to us about the S: social issues. She tells us why they have been overlooked, why it’s important that both society and investors think more about how company action can proliferate racism and environmental injustice, and why diversity and inclusion should be part of every investment process.
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Pl...

September 29, 2020 11:00pm

95. If you had the chance to interview a fund manager, what would you ask?

To mark International Podcast Day, this week’s interview has been conducted by a real life investor, rather than your usual hosts. Dr Beth Vamvakas, who has been investing for about 10 years, talks to James Thomson, manager of Rathbone Global Opportunities fund, about online shopping, furlough schemes, healthcare and diagnostics, US elections, Brexit and wildfires – to find out how they all might impact her retirement savings.
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September 23, 2020 11:00pm

94. Why Brexit planning has helped UK firms deal with lockdown

Alex Wright, manager of Fidelity Special Values investment trust, says the disruptions in supply chains that investors have been worrying about if a hard Brexit comes to pass are not that dissimilar to those we've seen because of COVID. “A lot of UK companies have done reasonably well dealing with the logistics of the pandemic because they had that hard Brexit planning in place already,” he said. Find out more about his views, and the firms he’s investing in, in this podcast.
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September 17, 2020 12:43am

93. Dividend growth: why it could be the fastest for a decade

While some of us have resorted to downloading the Calm Office app to simulate noises from the office, Kevin Murphy, co-manager of Schroder Income fund, is already back at his desk, and talking to the Investing on the Go podcast team about how soon UK companies could reinstate dividends, where he’s finding opportunities overseas, why he invested in Carnival’s bond and why M&S’s partnership with Ocado means investors get the clothing and home business for free…
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September 10, 2020 1:51am

92. Why I won’t touch the likes of Zoom or Uber

With 60% of the LF Blue Whale Growth fund currently invested in technology companies, you’d expect some familiar names to be in the top ten holdings. But manager Stephen Yiu won’t touch the likes of Zoom, Uber, Netflix or Apple. Instead he prefers companies like Adobe and Autodesk. In this podcast, Stephen looks back at the highs and lows during the first three years of this fund’s life and gives us an insight into his thinking.
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September 02, 2020 11:00pm

91. Why emerging market dividends are holding up better than in the UK

With emerging market equities experiencing outflows every single week of 2020, Ian Simmons, manager of Magna Emerging Markets Dividend fund, explains why investors have been shunning the asset class but have missed out on relatively good performance. He also talks about how the outlook for dividends is better than in the UK, and tells us about opportunities in Asia, Latin American and Russia.
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August 26, 2020 11:00pm

90. A baptism of fire and the lure of addictive hobbies

Rosemary Banyard, manager of newly-launched VT Downing Unique Opportunities fund, tells us about launching a fund in the midst of a crisis and why she likes companies that have no debt at all. She also talks to us about Games Workshop and why addictive hobbies can result in good dividends, and explains why Estonia is the poster-child of government ‘digitalisation’, why Canada is eyeing-up the UK passport application process…
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August 19, 2020 11:00pm

89. Ditching travel firms and buying ‘boring’ utilities

Ben Wallace, co-manager of Janus Henderson UK Absolute Return fund, tells us how ditching aerospace, travel and leisure companies just prior to the global pandemic protected the fund when stock markets fell. He tells us where he found the most exciting opportunities, but wished he had acted faster, and explains the attractions of housebuilding companies. He also tells us how the European ‘Green Deal’ and US presidential election could result in more investment ideas.
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August 12, 2020 11:00pm

88. Can the price of gold rise as high as $3,000?

The price of gold rose above $2,000 an ounce for the first time ever this month. In this podcast, Ned Naylor-Leyland, manager of Merian Gold & Silver fund, explains why investors have been attracted to gold and gives his view on how high the price of bullion could rise. He also tells us why income investors are looking for dividends from gold mining companies, and explains how silver can augment returns.
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August 05, 2020 11:00pm

87. The UK housing market: pent-up demand and the stamp duty holiday

Stuart Springham, deputy manager of TM home investor, talks to us about a new income share class for the fund and a potential 2.4% yield. He tells us about pent-up demand in the housing market resulting in increased asking prices, how the new desire for gardens and offices may not result in a permanent change, how the stamp duty holiday may help those moving up the property ladder rather than first time buyers and how he hopes the green homes grant may start an energy-efficiency revolution.
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July 29, 2020 11:00pm

86. How the spirit of the Industrial Revolution is alive and well in UK smaller companies

Simon Moon, manager of the Unicorn UK Smaller Companies fund, says the recent sell-off has once again demonstrated the ability of burgeoning UK businesses to be both nimble and resilient amid uncertainty. He also explains why the boom in computer gaming is here to stay post-lockdown and why the legacy of the Industrial Revolution is alive and well among high quality niche engineers in the UK small-cap arena.
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July 22, 2020 11:00pm

85. Investing through a Mexican wave of global shutdowns

Public sector pay rises, a higher oil price and government asset purchases all point to future price inflation, according to Rob Burdett, co-manager of BMO MM Navigator Distribution. He explains why inflationary signs are positive for value funds, describes how the “Mexican wave of global shutdowns” made diversification “null and void”, and tells us how he took advantage of corporate bond fund yields jumping from 2% to 6% in March.
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July 15, 2020 11:00pm

84. How to profit when Americans hoard

Martin Flood, co-manager of Lazard US Equity Concentrated, tells us how you can make money from the fact that American’s don’t throw things away. He also tells us why he thinks McDonald’s is such a great business, why dollar stores are the ‘anti-e-commerce’ play and describes how Motorola has moved from flip-top phones to police and fire brigades’ walkie-talkies. Finally, Martin gives his thoughts on a second tech bubble and the upcoming US election.
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July 08, 2020 11:00pm

83. Asian dividends and the battle for 5G

Richard Sennitt, manager of Schroder Asian Income fund, tells us how Asian dividends are holding up, gives his thoughts on the US election and how anti-China sentiment might impact wider Asia, discusses the big battleground that is 5G, and explains why the fund is overweight technology hardware firms and real estate companies.
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July 01, 2020 11:00pm

82. Why infrastructure is a bright spot for income and green energy

In some good news for income investors, Will Argent, investment advisor for the VT Gravis UK Infrastructure Income fund, tells us that dividends in the sector are holding up very well. He also tells us how infrastructure investment will play an important role in the post-crisis economic recovery, discusses the possible ‘cash for clunkers’ initiative to encourage us to buy electric vehicles, and explains why the UK has the largest offshore wind industry in the world.
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June 29, 2020 11:00pm

81. Finding income in emerging markets

While many investors will think of emerging markets as a source of growth for our investments, there are also plenty of income opportunities. Edmund Harriss, co-manager of Guinness Emerging Markets Equity Income fund, talks us through these opportunities, tells us why emerging market dividends are facing fewer regulatory constraints, and discusses the possibility that Europe could be the dark horse of 2020: having coped with the crisis better than the US, could it now grow faster than the world’s largest economy over the next few years?
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June 24, 2020 11:00pm

80. Mixing stock markets with human emotion

Steven Andrew tells us how he uses behavioural finance when choosing investments for the M&G Episode Income fund. He explains why human emotion can impact stock markets, talks about differentiating between ‘tech and the old stuff’ in recent months and gives details about the emerging market sovereign bonds, US banks and Japanese firms that are providing an income for the portfolio. He finishes with some behavioural finance tips for other investors.
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June 22, 2020 11:00pm

79. Why the FTSE 250 is more international than you may think

Most people view the FTSE 250 index as being very much a UK domestic-facing group of businesses. But in reality, about half of turnover generated by these businesses comes from outside of the United Kingdom, with companies serving markets in Far East Asia, the US and Europe. In this podcast, Chris St John tells us about the impact of Brexit, investing in AiM-listed gaming companies and future opportunities.
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June 19, 2020 3:00am

78. Why expectations are too high and the pandemic remains a risk

Laura Bottega, lead product specialist for the Morgan Stanley Global Brands fund, discusses the fund’s strong performance in the recent market sell-off. She tells us that companies are probably looking at two lost years of earnings and that a V-shaped recovery is unlikely: expectations are too high and the pandemic remains a risk. “We've never seen a vaccine being discovered and manufactured in four years, let alone two, and that makes the outlook far more uncertain and volatile than we believe the market is assuming,” she says.
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June 17, 2020 11:00pm

77. Investing in Purplebricks and gold miners

Mark Wright, co-manager of the VT Seneca Diversified Income fund, tells us about two new holdings the team scooped up in the recent market sell-off: Diversified Oil & Gas and Purplebricks. He also talks about some specialist property investments, which are producing more reliable income, and the increased exposure to gold and gold mining companies in the portfolio.
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June 15, 2020 11:00pm

76. Why Russia and Egypt are better bets than the UK

Nomura Global Dynamic Bond fund manager Dickie Hodges tells us why Russia and Egypt are better bets than the UK right now and explains why he thinks inflation may return in the second half of 2021. Dickie also tells us why corporate bonds became such an opportunity in March that he increased the funds weighting from 2% to 21% and why he felt the need to protect the fund from further stock market falls – which led to profits in the sell-off earlier this week.
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June 08, 2020 11:00pm

75. Finding ‘safe yields’ and why haircuts and holidays might get more expensive

At one point in March, some companies’ shares were valued at less than the cash they held on the balance sheet. Dr Niall O’Connor, manager of the Brooks Macdonald Defensive Capital fund, tells us about these miss-pricings, explains why our haircuts and holidays may get more expensive and, with UK equity dividends forecast to remain low until 2025, highlights where he is finding ‘safe yield’ opportunities to replace this lost income.
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June 03, 2020 11:00pm

74. Replenishing lost dividend income via car parks, bonds and infrastructure

Matthew Stanesby, co-manager of Close Managed Income, talks about dividend cuts being mainly concentrated in the UK and Europe and how holdings like JPM US Equity Income fund are therefore more secure. He tells us how the fund has increased its investment grade allocation via the Artemis Corporate Bond fund and why a specialist property trust that invest in car parks offer an alternative source of income.
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June 01, 2020 11:00pm

73. Have we seen the last skyscraper? Plus other post-pandemic property changes

Marcus Phayre-Mudge, co-manager of TR Property Investment Trust and BMO European Real Estate Securities, tells us why rent collection has been better in Germany than the UK, discusses the future of office spaces and death of hot-desking post the pandemic, tells us why skyscrapers may have peaked and reassures investors about the resilience of the trust’s dividends.
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May 27, 2020 11:00pm

72. How a relentless pursuit of the basics can give you an investment edge

John Ions, CEO of Liontrust Asset Management, talks about running a fund management business through a stock market crash, how the company transitioned to 100% working from home and the technologies and change of working practices he believes will outlive the pandemic. John also discusses the successful UK equity franchise; how responsible investing is here to stay and outlines his plans for the company and its future.
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May 26, 2020 11:00pm

71. From Latin American to the Middle East and Asia: which emerging market is best?

Kunjal Gala, co-manager of Hermes Global Emerging Markets SMID Equity talks to us about how some emerging markets – like Turkey, South Africa and Argentina - are going backwards in terms of economic development. He discusses how oil and metal producing Latin American and EMEA countries will find the move to a low carbon economy debilitating, how China wants to move up the value chain and how the pandemic could mean insurance emerges as a potential winner in emerging markets.
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May 22, 2020 3:15am

70. The best buying opportunity for 30 years

The stock market falls in February and March were so fast and so deep that Hugh Sergeant, manager of ES R&M UK Recovery fund, says this is the best opportunity to buy value stocks in his 30-year career – the key is simply to work out which companies can survive. In this podcast he tells us about new holdings he has bought including WH Smith, ASOS, Next and Autotrader, and reveals why he thinks UK smaller companies in particular are so unloved.
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May 21, 2020 2:15am

69. Why Heathrow is a better investment than Gatwick

“Successful investing is about managing risk and not being afraid to hold cash when you can’t find assets at the right price,” is the mantra of fund manager James Mahon. And it is very apt in today’s situation. Having been very cautiously positioned at the start of the year, as all assets were expensive, he spent March and April using cash to buy equities and bonds at much cheaper prices. James tells us about buying both the bonds and shares of Diageo (maker of Johnny Walker whisky) recently and why Heathrow airport is a better investment than Gatwick.
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May 20, 2020 7:00am

68. The Control-Alt-Delete recession

“Governments and central banks have spent the last decade trying to avoid a recession – then along comes this pandemic,” says John Bennett, manager of Janus Henderson European Focus fund. “Usually you get bargains in a recession, but this one is different: it’s a Control-Alt-Delete recession and the global economy has been reset.” John discusses some of the winners (industrials) and losers (fast food chains) in Europe and explains how two years of digital disruption have been squeezed in to two months.
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May 18, 2020 11:00pm

67. Why Europe’s attitude towards China is more important than the US

“It felt like a ‘going out of business’ sale, where people were tripping over each other to buy the bargains. There were just so many good companies I bought 14 new names.” This is how Eric Moffett, manager of T. Rowe Price Asian Opportunities Equity, described the investment opportunities afforded by the markets falls in March. He also tells us why Europe’s changing attitude towards China is more of a worry than Trump’s tweets and describes life in Hong Kong after lockdown – and what we could expect here as the ‘new normal’.
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May 12, 2020 11:00pm

66. Kentucky. There’s more to it than just fried chicken

Mark Sherlock, lead portfolio manager of the Hermes US SMID Equity fund, and his colleague Steve Chiavarone, discuss ditching oil-related companies and shopping malls and reinvesting in tech. They also talk about the possibility of the US bringing manufacturing home - and how smaller companies could be a big part of reconfigured supply chains… With one of lowest tax rates in the world, an educated workforce and plenty of room, is Oklahoma the place to be in the ‘twenties’?
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May 11, 2020 11:00pm

65. Learning a musical instrument and other lockdown behaviours benefiting UK small-caps

Dr. Paul Jourdan, co-manager of the TB Amati UK Smaller Companies fund, talks to us about the disbelief and then panic that defined stock market behaviour in March as the global pandemic took hold. He discusses the wide variety of UK smaller companies that are actually benefiting from lockdown - from musical instrument retailers to conferencing services and insolvency firms – and gives his views on what may happen if a vaccine isn’t found…
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May 07, 2020 6:01am

64. US mid-caps: planting the investment seeds for the large-caps of tomorrow

Having seen US larger companies - and the tech giants in particular - leading the recent stock market bounce, we ask Bob Kaynor, manager of the Schroder US Mid Cap fund, about the prospects for America’s medium-sized companies – the large-caps of tomorrow. He tells us about the investments he is making today, talks us through how different industries have performed in the sell-off, and explains the impact of unemployment and lockdown on the US consumer.
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May 06, 2020 11:00pm

63. Bringing investment opportunities to life

We launched the ‘Investing on the Go’ podcast in May 2019 – under very different circumstances. Our first interview was in a restaurant with James Thomson, manager of Rathbone Global Opportunities fund, just before he hosted a dinner for 40 people. Roll on 12 months and today we’re conducting virtual interviews via Zoom. From Brexit to Trade Wars, Climate Change to Robotics, we take a look back at our first year of interviews.
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May 05, 2020 11:00pm

62. Buying great companies at very cheap prices

Having just witnessed the most dramatic stock market falls in living history, Alessandro Dicorrado, co-manager of the Ninety One Global Special Situations fund, talks to us about taking advantage of the sell-off to buy good companies at very cheap prices. He discusses five types of value stock, why he thinks some companies in the travel, holiday and housebuilding sectors are good investments and tells us about the possible ‘value traps’ he is avoiding.
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April 28, 2020 11:00pm

61. When things stop getting worse, pleasant surprises and stock market epicentres

Speaking to us from the US, David Eiswert, manager of T. Rowe Price Global Focused Growth Equity fund, describes the current crisis as akin to a “natural disaster” or a “man vs nature” fight that warrants different responses to other crises. David believes that stock markets will bottom “when things stop getting worse” – not when there is an absence of risk, but when risk has diminished. Could that time be now?
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April 27, 2020 11:00pm

60. Artificial Intelligence: making shopping, viewing and medication more personal

The use of artificial intelligence (AI) is growing exponentially. From helping us trace, monitor and eventually medicate COVID-19, through to making online shopping and entertainment more personalised and enjoyable experiences. In this podcast, Chris Ford, manager of Smith & Williamson Artificial Intelligence fund, talks us through the applications of AI in our daily lives, how we can better govern the use of personal data and how its adoption may be accelerated.
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April 22, 2020 11:00pm

59. Dealing with dividend cuts and the tumbling price of oil

Manager Martin Cholwill has been investing in UK equities since the 1990s. In this podcast, he talks about the extent of potential dividend cuts, highlights the sectors and companies that could be more resilient than most, and gives his view on what the tumbling oil price means for companies like BP and Shell – two of the biggest dividend payers in the UK stock market.
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April 20, 2020 11:00pm

58. Why the US stock market may have already bottomed

Hugh Grieves, co-manager of LF Miton US Opportunities fund, takes us on a whistle-stop tour of the US. He talks to us about the potential impact of the huge government stimulus package; who he thinks will win the presidential election; why he thinks the stock market has bottomed; why it’s best to invest in smaller companies in the depth of a recession; and why it’s not necessarily the tech stocks that will lead us out the other side…
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April 16, 2020 11:02pm

57. Moving on and finding companies that can flourish, no matter what

Alexander Darwall has managed the European Opportunities Trust for the past 20 years. In this podcast, he talks to us about his (and the trust’s) recent move from Jupiter to his own investment company, Devon Equity Management, and his enthusiasm for the job. He also describes how he tries to find companies that can flourish in different economic conditions – companies whose products and services are truly valued, so even in unprecedented circumstances such as those we face today, demand will return and the firms will survive.
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April 15, 2020 11:00pm

56. Treating customers, employees and the community fairly

How companies have responded to the Coronavirus pandemic could change the way we see them in future, according to David Harrison, manager of Rathbone Global Sustainability fund. David talks to us about how some firms have really thought about their employees, customers and communities, how some companies – from all sorts of sectors – have used spare production capacity to join the fight to save lives, and gives his thoughts on how society and work practices could change forever – and in turn help lower carbon emissions.
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April 14, 2020 11:00pm

55. Why bank bonds could the bargain of the century

All eyes have been on global stock markets in recent weeks, but bond markets have had a turbulent time too. In this podcast, Jeremy Smouha, who is on the investment board of GAM Star Credit Opportunities fund, tells us what has been happening in the world of fixed income, explains why he thinks bank bonds are the bargain of the century and tells us why some of the world’s strongest companies are today producing extremely high yields.
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April 08, 2020 11:00pm

54. India: the fast-growing economy with plenty of potential

Mithran Sudhir, Vice President, client portfolio manager of Goldman Sachs India Equity Portfolio, tells us how India has grown from the 12th largest to the 5th largest economy in the world over the past decade. He talks us through some of the structural changes taking place, the hiccups that have occurred, and the opportunities in infrastructure and finance today. With total power generation having doubled, solar and wind power are also going strong.
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April 06, 2020 11:00pm

53. The healthcare sector: a global, co-ordinated response to COVID-19

James Douglas, co-manager of Polar Capital Global Healthcare Trust, talks to us about how the healthcare sector is responding to the coronavirus crisis. From short-term needs such as tests, ventilators and vaccines, through to longer term investment in our global healthcare infrastructure and the way we access services, the implications are significant - even the promises made in the US election could be changing.
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April 01, 2020 11:00pm

52. How safe are dividends during the global healthcare crisis?

With companies in the UK and Europe announcing dividend suspensions or cuts, investors are rightly concerned that their incomes could fall in the coming months. In this podcast, Andreas Zoellinger tells us why dividend cancellations may be painful but temporary, highlights the industries that may be able to continue their payments, and outlines the opportunities that have arisen due to stock market falls.
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March 26, 2020 12:00am

51. 7% dividends on the UK stock market: are they sustainable?

‘Thanks’ to the stock market crash, the FTSE 100, the index of the UK’s largest 100 companies, now yields almost 7%*. In this podcast – that was recorded during the market falls in early March – Henry Dixon, manager of Man GLG UK Income fund, talks to us about how sustainable UK dividends are, tells us why he may sometimes invests in a bond instead of an equity and explains his ‘value’ style.
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March 19, 2020 12:00am

50. The danger of complacency and disturbing the status quo

**Please note that this podcast was recorded prior to the Coronavirus-led stock market falls**Lazy consensus opinions can create opportunity – especially in shares that are expensive or overpriced. Manager Chris Kinder has quality businesses at the core of his portfolio – but also looks to make money from over-loved companies where something has disturbed the status quo. In this podcast he tells us about Metro Bank, the importance of income, and the danger of complacency.
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March 11, 2020 11:00pm

49. Investing in forklift trucks and lawnmowers...

Despite the fact that US/China trade wars have helped push Europe into an industrial recession, there are still plenty of investment opportunities, according to Dean Tenerelli, manager of T. Rowe Price Continental European Equity fund - especially among the mid-caps. From forklift trucks and lawnmowers, to bottle manufacturers, auto suppliers and pharmaceuticals, Dean talks us through some of the stocks in which he has chosen to invest.
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March 04, 2020 11:00pm

48. Helping Alexa, Google and Siri to be smarter

Kirsty Desson, newly appointed co-manager of ASI Global Smaller Companies, talks to us about how she and the team deal with black swan events like the Coronavirus, and elaborates on holdings Trainline and Appen – the company with the technology that helps Alexa, Google and Siri understand and answer our questions...
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based...

February 26, 2020 10:00pm

47. ‘Cool’ brands and Japan’s Silicon Valley

Richard Kaye has been living in Japan for the past 30 years. In this podcast he tells us about the Silicon Valley of Japan; why there are more women as a percentage of the workforce than in the US; why the country has ‘cool’ brands wider Asia wants to buy; and explains that, as a nation with no natural resources, Japan also has a lower carbon footprint than many other countries.
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February 19, 2020 10:00pm

46. Ethics, renewables and human geography

From animal testing to weapons, tobacco to doorstep lending, there are many ‘unethical’ practices that Bryn Jones excludes from the Rathbone Ethical Bond fund. He talks to us about the companies the excludes and the positive traits he looks for, as well as the growing opportunities in renewable energy. He also explains his thinking about human geography and the move from the Holocene to the Anthropocene era...
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February 12, 2020 10:00pm

45. Japan: robots, politics and internet investing

Manager Matthew Brett talks to us about how improvements in machine vision and artificial intelligence have led to robots being used more widely, tells us how Japanese strength in component manufacturing is benefiting from these advances, and explains why a Chinese internet giant and Japan’s second richest man, are both making a software company more exciting.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the ti...

February 05, 2020 10:00pm

44. Flying, casinos and tech stocks paying dividends

Jason Pidcock describes casinos as “niche property companies: they charge very high rents for people to spend time there.” In this podcast, he talks to us about his casino holdings in Macau, Australia and Singapore, tells us why “flying is the new smoking”, reveals which tech stocks pay a dividend, and discusses the possible economic impact of the coronavirus.
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January 29, 2020 10:00pm

43. Royals, cheese and home improvements

The Canadians haven’t just gained an (ex) Royal couple recently, they’ve also bought some of our cheese: Saputo bought Dairy Crest – maker of Cathedral City cheddar and Country Life butter recently in a near £1 billion deal. James Baker, manager of MI Chelverton UK Equity Growth tells us why we may see more mergers and acquisitions of UK companies this year.
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January 22, 2020 10:00pm

42. When bad management ruins good companies

According to Matthew Dobbs, no business is so good that it can’t be ruined by bad management. In this podcast, the manager of Schroder Asian Alpha Plus and Schroder Oriental Income, tells us why meeting company management is so important, why there is ‘moral hazard’ in China and why slower growth is still stronger growth.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of li...

January 15, 2020 10:00pm

41. When three is the magic number

Can we rely on UK companies to pay their dividends this year? Nick Shenton and Andy Marsh join Darius McDermott in this podcast to answer this and other UK income questions. They also tell us how they go about researching a company, describe their ‘bad-cop, bad-cop’ approach to meeting management and explain how a mining company could be good for the environment...
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January 08, 2020 10:00pm

40. Investing in companies no one else wants to buy

Simon Adler, co-manager of Schroder Global Recovery fund, talks to us about the history of value investing. Almost 100 years old, the investment style has delivered outstanding long-term returns, but has lagged in the past decade. But every ten years or so things change. Is now an unprecedented opportunity to return to value?
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Rati...

January 01, 2020 10:00pm

39. Our investment outlook for 2020

2019 turned out to be a good year for world stock markets. As we head into 2020 your hosts, Juliet Schooling Latter and Darius McDermott, take us on a whistle-stop tour of the globe, garnering opinion from Elite Rated fund managers as to the outlook for various markets and asset classes in the coming 12 months.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elit...

December 25, 2019 10:00pm

38. From Xbox to plastics, data privacy to executive pay

Global brands are plentiful, but which ones are any good as investments? Laura Bottega, lead portfolio specialist, talks to us about finding the best companies and brands for the Morgan Stanley Global Brands fund. She talks about Xbox and gaming and the changing face of Microsoft’s competitors, as well as engaging with companies on data privacy, plastics and executive pay.
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December 18, 2019 10:00pm

37. The 12 year-old asking for an investment

Having badgered his parents for an investment in Foreign and Colonial investment trust at the age of 12, it’s perhaps no wonder that Alex Wright became a fund manager. Here he talks to us about his own trust, Fidelity Special Values, tells us why he invests in stocks other people don’t like, and debates the merits of banks and Brexit.
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December 11, 2019 10:00pm

36. What do politics, magnetic levitation and lights have in common?

From turning the lights on, to driving a car or catching a train, infrastructure is a fundamental part of our everyday lives. Peter Meany has run this fund since launch in 2007. In this podcast he talks to us about investing in different types of infrastructure: utilities and the risk of politics, bullet trains and magnetic levitation, and how he’s taking advantage of the roll-out of 5G.
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December 04, 2019 11:00pm

35. Investors reaching ‘peak’ uncertainty

Co-founder of Church House, and co-manager of Church House Tenax Absolute Return Strategies fund, James Mahon, looks back over the past twenty years and discusses the bursting if the tech bubble and the more recent Euro crisis. James also talks to us about the opportunities that could present themselves following the General Election in December, tells us why he thinks we may have reached ‘peak’ uncertainty, and elaborates on his investments in efficient energy.
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November 27, 2019 11:00pm

34. Gold, elections and not betraying confidences...

In the final podcast recorded at FundCalibre’s annual investment trust dinner, Peter Ewins, manager of BMO Global Smaller Companies investment trust gives us his thoughts on the US and UK elections, explains why Japanese funds dominate the portfolio’s top ten holdings, talks about the trusts’ exposure to gold mining equities and infrastructure projects around the world, and tells us what was discussed at the last board meeting.
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November 20, 2019 10:00pm

33. Emerging markets, weather forecasts and getting defensive

In the second of three podcasts recorded at FundCalibre’s annual investment trust dinner, Bruce Stout, manager of Murray International investment trust tells us why he prefers the shares and bonds of emerging market companies and governments today, explains why he thinks financial forecasters are just there to make weather forecasters look good and discusses the times he’s put more money into bonds to help protect the portfolio from falling equity markets.
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November 13, 2019 11:00pm

32. 53 years of dividend increases

In the first of three podcasts recorded at FundCalibre’s annual investment trust dinner, Job Curtis, manager of City of London investment trust discusses the upcoming Christmas election, Brexit and the long-term outlook for the UK stock market. He also tells us how he’s been able to maintain his impressive dividend track record and looks back to 2003, when he increased gearing on the trust to take advantage of the bottom of the bear market.
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November 06, 2019 11:00pm

31. Five investment megatrends

From climate change to rapid urbanisation, from ageing societies to the tug-of-war for economic supremacy, there are a number of megatrends that could transform the way we live and do business over the next 20, 30 or 40 years. With so much uncertainty in the world in the short term, are investors better off looking to the future for ideas as to how to invest their money?
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October 31, 2019 12:00am

30. Meat-free investing

Believe it or not, livestock accounts for some 18% of human-produced greenhouse gas emissions – more than ships, planes, trucks and cars put together. In this podcast, your hosts Sam and Staci discuss what the implications of a change of diet could be for our planet, and investigate ways to invest ‘meat-free’.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on F...

October 23, 2019 11:00pm

29. Gold and Silver: where to find it and how to invest

Ever wanted to own a bar of gold but not had a safe or an arm strong enough to hold it?? Ned Neylor Layland, manager of Merian Gold & Silver fund, talks to us about the practicalities of investing in gold, tells us what else you might find if you were mining for the precious metal, and explains where the term ‘pound sterling’ comes from...
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October 16, 2019 11:00pm

28. Finding dividends and Amazon warriors in Asia

Both the managers of Guinness Asian Equity Income fund joined us for this podcast. They describe how Asian has evolved from being just a high-growth region into a dividend-paying one too, tell us about an Australian company that is holding its own against Amazon, explain why China is the new Korea, and give us the low-down on the true impact of the US/China trade war.
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October 10, 2019 11:01pm

27. Climate change, coral reefs and flexitarianism

Eva Cairns, ESG investment analyst at Aberdeen Standard Investments, talks to us about climate change and the difference just a 1 degree rise in temperature could have on coral reefs, water and animal species. She also explains how she encourages fund managers to think about physical, as well as transitional risk, when it comes to assessing companies.
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October 09, 2019 11:00pm

26. Sustainability – fad, fashion, or the future of investment?

From genetics to palm oil, the plastic epidemic to gender diversity, zero-hour contracts to tobacco, the depth and breadth of EdenTree's research analysis is truly impressive. In this podcast, Neville White, head of Responsible Investment Policy and Research at EdenTree talks to use about how ethical investing has evolved and why biodiversity is the Cinderella of the investment world.
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October 07, 2019 11:00pm

25. Water: the bets are off in a dry Las Vegas

Luciano Diana, manager of Pictet Global Environmental Opportunities fund, talks to us about investing in companies that are actively trying to solve the planet's environmental issues. From Amazon fires to a water-less Las Vegas, he also tells us how technology could help the human race avoid reaching tipping points in the Earth's ecosystem.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elit...

October 02, 2019 11:00pm

24. Asia ex Japan? It’ll be Asia ex China one day…

Having worked in Japan for a number of years, Dale Nicholls, found the growing investment opportunities in China more compelling and moved to Hong Kong six years ago. He believes that while many mainstream Asian equity funds look at Asia ex Japan today, very soon China will be so dominant they will look at Asia ex China instead.
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September 25, 2019 11:00pm

23. Mixing old with new in the Greater China region

Martin Lau talks us through the implications of the China/US trade wars, shares his excitement about the growing A-Share market and the potential to identify an entrepreneur with a sound business plan – and then enjoy a 10-year investment journey together - highlights Alibaba’s meteoric rise, and explains why soya milk, gas and electronics can make a good investment mix.
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September 18, 2019 11:00pm

22. Going where other bond managers fear to tread

Jonathan Platt, manager of Elite Rated Royal London Corporate Bond fund, explains why government bond yields reflect a degree of pessimism he doesn’t share, why unrated bonds are not necessarily risky, why central bankers are worried about recession and what advice he’d give the new governor of the Bank of England.
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September 11, 2019 11:00pm

21. The luxury of Louis Vuitton to the discomfort of Ryanair

From the luxury of Louis Vuitton to the discomfort of Ryanair - voted the UK's worst brand for customer service – Niall Gallagher, manager of GAM Star Continental European Equity, talks us through his investments. Niall also tells us why he wouldn't want to be governor of the Bank of England, why talking to former employees gives to extra insight into the workings of a company, and why Asia matters more to European companies than Europe itself.
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September 04, 2019 11:00pm

20. Every little helps: a strategic investment in Tesco

Tesco has been under pressure from competitors Aldi and Lidl for sometime. But Richard Hallett, manager of Marlborough UK Multi-Cap Growth fund, believes its outlook is more positive in the short term. With every little helping in investment terms, he tells us why he is willing to take the chance on the company and explains why he tends to avoid oil and utilities firms in favour of e-commerce businesses like Boohoo and WorldPay.
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August 28, 2019 11:00pm

19. Why tractors and M&S could do well but bonds could disappoint

Investing in assets that have lost 50% of their value could be scary stuff – but if you research them thoroughly, amongst all the rubbish you can occasionally fund something of value that has been mistakenly discarded by investors. Alastair Mundy talks to us about the loyalty of M&S customers, the quality of John Deere trackers, and tells us why gold and silver are insurance against central bankers' eagerness to avoid a recession.
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August 21, 2019 11:00pm

18. Champagne, makeup and insuring against stock market falls

In a whistle-stop tour of the globe, David Coombs, manager of Elite Rated Rathbone Strategic Growth Portfolio, tells us about his belief in the US stock market, why he is investing in government bonds instead of cash, and why some of his top stocks are companies that produce makeup and Champagne.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are...

August 14, 2019 11:00pm

17. From Silicon Valley to silicon roundabouts: investing in UK tech

Everything in the US seems to be bigger than in the UK. The cars, the roads, food portions... They have Silicon Valley in California. We have a silicon roundabout in Cambridge and a tech canal in Birmingham! Matthew Tonge, co-manager of Liontrust UK Micro-Cap fund explains why UK tech companies tend to stay small, but also how Brexit may help them grow.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not stil...

August 07, 2019 11:00pm

16. Cinemas, self-storage and investing north of the border

From Cineworld's special dividend, to Big Yellow's success gaining planning permission and the opportunities in Scottish television, Siddarth Chand Lall, manager of Marlborough Multi Cap Income fund, talks to us about finding income opportunities in the UK's smaller – but growing – companies.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of...

July 31, 2019 11:00pm

15. Lager, salmon and chocolate: three reasons to like Europe

Having won a school investment competition at the age of 16 and been runner-up in the Observer 'Investor of the Year' at age 21, it's perhaps not surprising John Bennett became a fund manager. In this podcast he talks to us about his investments in Carlsberg and Nestle, as well as Mowi the salmon farming business. He also tells us why he thinks banks are short-term trading opportunities, not long-term investments, and why Europe will continue to lead the way in science and design.
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Please remember, we’ve been discussing individual companies to bring in...

July 24, 2019 11:00pm

14. Autonomous aircrafts: efficient and effective blood donation

In this podcast, Tom Slater, co-manager of Scottish Mortgage Investment Trust, talks to us about electric vehicles, the falling cost of genomic sequencing and autonomous aircrafts that deliver blood to patients in Sub-Saharan Africa. That's quite a mix – but they all have one thing in common: they are disrupting whole industries.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are ba...

July 17, 2019 11:00pm

13. Latin America: from the Mexican wall to Brazilian pensions

Research trips don't always result in new opportunities – they can also give you a reason to sell a company. Devan Kaloo, manager of Aberdeen Latin American Equity, discusses his last trip to Brazil, and how new pension fund reform could result in more investment, more consumption and more growth. Devan also talks about President Trump's ambition for a Mexican wall and the more worrying impact of trade tariffs.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fu...

July 10, 2019 11:00pm

12. World Cup football, dividends and renewables

While the Netherlands may have beaten Sweden in the recent semi final of the FIFA Women's World Cup, according to Chris Garsten, co-manager of Waverton European Capital Growth fund, Sweden wins hands-down over it's Dutch counterpart in terms of investment opportunities. In this podcast Chris discusses the highs and lows of 20 years investing on the Continent and the herd-like scramble into renewables.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not stil...

July 03, 2019 11:00pm

11. An investment that keeps your shirt clean and beaches plastic-free

From the beauty of Hawaii to the less glamorous Bismark, North Dakota (known mainly for the film Fargo and lots of snow), Mark Sherlock talks to us about his travels in America, Tropicana packaging, Transport for London's Oyster card payment system and how a company he owns is starting to tackle the problem of bottle tops and other plastics on our beaches and in our oceans.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may...

June 26, 2019 11:00pm

10. How to invest in music royalties and super jumbos

Peter Elston is both a fund manager and a chief investment officer – in football terms a 'player-manager'. In this podcast he tells us what 25 years based in Asia taught him about investing in the region, why Emirate Airline's A380 super jumbos offer opportunities, and how streaming services are putting an end to music piracy and are putting the profits back into the hands of the song owners.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund m...

June 19, 2019 11:00pm

9. Buy-to-let – without the mortgage or the hassle

Brits have had a long love affair with property and buy-to-let investing has been popular over the years. But it can sometimes be more hassle than it is worth. So what if you could invest in property without a mortgage, the paperwork, repairs or constant search for new tenants? That's where TM home investor comes in: it's a unique fund that invests in UK residential housing. From the Midlands to Scotland, Sussex to Leeds, manager Alan Collett talks us through the investment opportunities.
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Please remember, we’ve been discussing individual companies to br...

June 12, 2019 11:00pm

8. Jumping on Eurostar to unearth investment gems

Europe's a huge continent with many different economies, which means there are also any number of undiscovered companies in which to invest. James Sym, manager of Schroder European Alpha Income fund talks to us about his travels to Europe - visiting factories, as well as head quarters - to find these hidden gems. He also tells us why he thinks there will be increased demand for oil and why the European consumer is stronger than many believe.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It...

June 05, 2019 11:00pm

7. British summers and electric vehicles: there's more to infrastructure than meets the eye

Political risk may be high but, if you can find a project with cross-party support, you can mitigate it to some extent. And that's exactly what Will Argent, investment advisor to VT Gravis UK Infrastructure Income is doing. Although the UK seems to be in political chaos, there are some areas where our politicians can find common ground. Here, Will talks to us about the green agenda, tells us how electric vehicles don't yet have investible infrastructure to support their growth, and explains why British summers lead to intermittent energy flows.
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May 29, 2019 11:00pm

6. Innovation, technology and Medicare for all

Healthcare is a subject close to many people's hearts (pardon the pun) but it could also soon become the most prominent feature in a word cloud: the US election campaign starts in a few months and affordable healthcare is likely to be a key policy for all candidates. This week's podcast gives us an insight into the world of gene therapy, drugs and medical devices - and the US campaign trail...
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy...

May 22, 2019 11:00pm

5. Don't let chaotic politics put you off investing in the UK

International investors don't like UK companies: they have shunned them since the EU referendum. But is that a mistake, especially for those who like a regular dividend payment? And can you still invest in a company who could - or has already - cut its dividend - like Vodafone in May this year? The answer to this and more on equity income investing is on this week's podcast.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The...

May 16, 2019 12:00am

4. Investing in Britain's most interesting entrepreneurs

'Back British' sounds like it could be an election promise, but it's what Ken Wotton does every day in the LF Gresham House UK Multi Cap Income fund. Here he talks to us about investing in some of Britain's most interesting entrepreneurs and participating in their companies' growth as their businesses mature and develop.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of list...

May 08, 2019 1:42pm

3. Why a bond manager doesn't have to like bonds

Ever wonder if low risk investors wished for more excitement in emerging markets? Or Brexit making you nervous and opting for low risk options amongst a volatile political climate? Paul Smith, manager of Premier Defensive Growth fund, takes us through the strategies that make up his fund and tells us why a bond manager doesn't have to like bonds...all these answers and more in this weeks 'investing on the go' from FundCalibre.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a reco...

May 08, 2019 10:23am

2. From rice crackers to robots we look at Japanese trends

This week we look at the trends influencing Japanese investments, from rice crackers to OAP day care centres, even the impact of women back in the workplace. Not to mention will all our jobs be taken over by robots? To find out, listen as Chisako Hardie, manager of AXA Framlington Japan fund, gives us insight into corporate Japan.
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at t...

May 03, 2019 5:28am

1. From Dragons' Den to Tinder we talk investing with James Thomson

Your host Sam Slator is joined by James Thomson, manager of Rathbone Global Opportunities fund to find out about the Dragons' Den of the investment world. Also what makes a good investment process and what he looks for in a business, the effects of politics and current holdings Amazon and Match Group.For more information on the Rathbone Global Opportunities fund visit fundcalibre.com
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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may...

FundCalibre - Investing on the go

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