FundCalibre - Investing on the go

FundCalibre

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 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. To do this we often ask the managers why they are invested in individual companies. This is for illustration only and should not be taken as a recommendation to buy or sell that stock. The fund manager may or may not still own these companies at the time of your listening. For more investment research visit us at www.fundcalibre.com and follow us on twitter and facebook @FundCalibre

206. Now is not the time to be going off on exciting adventures
2d ago
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 Adobe and Microsoft in recent months.What's covered in this episode:Why investors must prepare themselves for a new financial world that we’ve not seen for decadesSticking to their investment principles but being flexible in their application.How they are finding growth in the likes of utilities, healthcare and financials.Tapping into unloved European companies and why they particularly like companies in the energy and defence sectors.Finding opportunities in the “forgotten middle” – companies outside the technology sector which have been overlooked by the extremes seen in the past two years.The team’s preference for software companies in the tech space and adding names like Adobe and Microsoft based on market weakness.More about this fund:JOHCM Global Opportunities fund is managed by Ben Leyland and Robert Lancastle and has a strong focus on capital preservation. The philosophy of this fund is 'heads we win, tails we don't lose too much', with the managers’ focusing their research on high quality, high return on capital businesses. The fund is well diversified by country and sector and holds around 30 to 40 stocks. The team are also willing to hold up to 20 per cent in cash as it helps to reduce volatility and gives them ammunition to take advantage of opportunities created by falls in the market.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
205. The price of a Big Mac in Tokyo… and why it matters for investors
Aug 3 2022
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: Why the Japanese economy is moving at a different pace to the rest of the worldIf the reopening story is about to begin in JapanHow China’s reopening could benefit JapanWhy Japan is a cheap destination for tourists todayThe Big Mac Index and what it tells usIf Abenomics can survive the death of its creatorThe themes the fund is investing inWhy Japan is playing catch-up in the digital revolutionWhat is attractive about robotics and automation for investors in JapanWhy the fund has sold its holding in car manufacturersWhy investors should consider allocating money to Japanese equitiesMore about this fund: Baillie Gifford Japanese fund is a well-managed portfolio with a clear investment strategy, which offers complementary exposure to those funds that are focused more on the value of a company rather than its growth prospects. It has been one of the most consistent funds in its sector and has proven itself in many different market environments.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
204. Why India is the world’s most exciting growth story for the next decade
Jul 27 2022
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 role of sustainability in the portfolio and the moves India is making towards renewable energy.What's covered in this episode: How favourable demographics, urbanisation and a thriving private sector are driving the exponential growth of the Indian economyHow a rising middle class and a mismatch between supply and demand is boosting business for firms like Lemon Tree HotelsWhy the domestic growth story gives India such a strong advantage over its peersWhy the team sees real value in banks as a “mispriced opportunity in the portfolio”How the uncorrelated nature of Indian equities is driving dedicated exposure from investorsWhy the premium you pay for Indian equities is justified and should not deter investors targeting long-term growthWhy oil prices are the biggest concern to the Indian economy and the move to renewable energy to counteract this threatHow the role of Prime Minister Narendra Modi, as a reformist, has bolstered the economy and the benefits of his tenure being extendedThe importance of sustainability in the investment processMore about this fund: The Alquity Indian Subcontinent fund is a unique offering as its domestic focus often sees the team look past the larger companies in the index and invest in businesses which tend to be overlooked. With a high conviction approach, the fund is not for the faint hearted, but the team are exceptional at what they do and the long-term tailwinds surrounding demographics, urbanisation, political stability and a shift towards a formal, organised economy, support the case for long-term growth.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
203. Why the stocks everyone falls in love with can end up being the riskiest of all
Jul 20 2022
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 view when markets are difficult.What's covered in this episode:Why people have to get used to building their wealth at a steadier paceHow a permanent inflationary backdrop will “crush the margins” of many businesses which are dependent on keeping their prices lowTaking advantage of opportunities while active investors obsess about the threat of recessionWhy big tech companies like Apple and Microsoft may face even more pain in the futureWhy the compounding of dividend income (not capital growth) will be the biggest driver of returns from hereThe importance of going against the market consensus – particularly when things look difficultThe challenge of spotting when disruption or controversies in companies will have a permanent impact or notThe opportunity in the luxury retail spaceMore about the fund:While the TM Redwheel Global Equity Income fund may be new, the team – led by Nick Clay – is highly experienced, and the investment strategy is well-proven. It has a true contrarian nature backed up by a logical and disciplined philosophy. This leads to an attractively yielding income fund (every holding must yield at least 25% more than the broader market at the point of purchase) that also allows for capital return from a concentrated portfolio.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
202. War, inflation and the threat of recession – why history tells us to be contrarian in difficult markets
Jul 14 2022
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 Covid world and the importance of having a strong investment process to find opportunities in the ESG space.What's covered in this episode: Why challenges equal opportunities in a post-Covid world and the attraction of cyclical recovery stocksHow the semiconductor shortage benefitted car companiesWhy finding ESG winners is anything but straightforwardHow new EU rules around sustainability could impact capital flows into minersWhy he is a fan of Scandinavian/Nordic companies and the importance of “strategic thinkers” like Nestle and RushHis fears about recession in Europe and why history tells us to be contrarian in difficult marketsWhy the political will for the Euro to succeed means it is unlikely to break upWhy Europe looks a more interesting investment than it did eight months agoMore about this fund: The managers of Waverton European Capital Growth fund focus on finding companies whose management interests are aligned with shareholders, have earnings visibility, pricing power, cash generation and return on capital. But companies don’t have to have all these attributes at the point of investment – indeed, many of their best ideas are businesses in the early stages of reform.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
201. Why you can sleep more easily with private equity investments
Jul 7 2022
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 and why the team focus on growth and buyout businessesWhy investment trusts are a great fit for investors looking to access private equity companiesThe importance of understanding the exit options for a company at an early stage and the need to have as many options available as possibleHow the team go about transforming a new acquisition to improve both its scale and valueWhy there is an ongoing need to fund and support UK growth and buyout companiesThe importance of ESG and why the management team are happy to invest in companies that need help to develop and deliver the right ESG frameworkWhy they are so bullish on their holding in a reporting agency for non-exchange traded food commoditiesWhy investors should be looking more closely at private equity as a long-term holdingTo hear more about the public side of the portfolio be sure to listen to episode 169. Investing on public and private equityMore about the trust:One of the few products to be launched in response to the Covid-19 pandemic, the Schroder British Opportunities Trust seeks to tap into the unloved status of UK equities by targeting companies which have been in the eye of the storm. The portfolio consists of 30-50 small and medium-sized public and private businesses requiring fresh injections of equity, with the trust aiming to provide a net asset value total return of 10% per annum.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
199. How to benefit from irrational investor behaviour
Jun 30 2022
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?Are markets or the US central bank leading the way?Central bank moves today vs 30 years agoWhat central banks can and cannot controlWhy the manager hasn’t invested more in the UKThe parallels between Japan and the UKIf the market is more fearful of growth than it is of inflationHave investors reached peak fear?Are equities or bonds the best bet now?More about this fund: M&G Episode Income is a multi-asset fund that invests directly in individual stocks and bonds, while property exposure is gained by investing in property funds. The name “Episode” refers to those periods of time when investors' emotions cause them to act irrationally. The manager uses behavioural finance to find pockets of value and invest against the herd, rather than following it.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
198. Why even inflation-linked bonds are letting you down
Jun 23 2022
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 covered in this episode: Why bond returns have been negative this yearIf bond markets could fall furtherWhy inflation-linked bonds have also let down investorsHow high interest rates could go in the UK and USIf recession is likely in the UK and USWhy it’s a certainty that Europe will go into recessionIf we could see a repeat of the European Sovereign Debt CrisisWhy it’s difficult to value assets in this environmentWhy 2023 and 2024 could be good opportunities for bond investorsWhat has happened to the Russian bonds the fund held earlier this yearMore about the fund: Nomura Global Dynamic Bond is an unconstrained strategic bond fund, with a focus on total returns. It is managed by the charismatic Richard ‘Dickie’ Hodges, who blends two approaches when building his portfolio. First, he studies the state of the global economy and identifies which sectors and investment themes look most attractive. He then undertakes fundamental analysis, to populate his preferred areas with ideas. Dickie invests in the entire range of bond sectors including government bonds, corporate bonds, emerging market bonds and inflation-linked bonds. Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
197. Why interest rates are likely to go higher in the UK
Jun 16 2022
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 this episode: Why the UK stock market has been doing well this yearIf the UK stock market can continue to do wellHow much exposure the trust has to oil companiesIf the windfall tax could have an impact on oil company dividendsWhy the North Sea is important when it comes to this windfall taxHow much gearing the trust has at the momentHow inflation could impact UK equity investmentsWhy the manager thinks interest rates will rise furtherHow the trust has some inflation protection through its holdingsWhich area of the UK stock market the manager likes bestWhich area he likes leastWhat tips the manager has for investorsMore about the trust: City of London Investment Trust aims to provide growth in income and capital by investing predominantly in larger UK companies with international exposure. It has increased its dividend payment every year for the past 55 years. Manager Job Curtis has run the trust for more than three decades and his thorough research process and conservative approach to stock selection have generated steady returns over a long time. The trust is also very good value: it charges 0.325% per annum of net assets under management.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
196. Consumer demand robust despite rising prices
Jun 9 2022
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 impacting companies in different sectorsWhy companies are starting to have problems supplying goodsThe impact of China’s lockdown on networking hardware and software company CiscoWhy demand is staying surprisingly robust in the face of rising pricesWhy companies are being slower than usual to pass on costs to consumersFirms that can thrive in any environment Why meeting companies on the ground is so important for investorsHow the fund has decent exposure to Asia – without owning many Asian’ companiesMore about the fund:TB Evenlode Global Income managers Ben Peters and Chris Elliott believe the market fundamentally underestimates the value of high-quality businesses because of its obsession with short-term events. The fund has four key objectives: grow the dividend on a consistent basis, compound returns at a high annual rate, outperform major global market indices over the long-term and generate returns with lower volatility and downside risk.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
195. Why the UK government will find it difficult to resist calls for a windfall tax
May 26 2022
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 episode: What the characteristics are of ‘quality’ companiesThe manager’s view on the outlook for the UK economyWhich companies can continue to grow in a low growth worldWhy the manager likes pubs and airlines todayThe companies that could benefit from people looking to spend lessIf a windfall tax on oil companies is likely to happenWhether small or larger companies look more attractiveWhy the manager sold overseas stocks in favour of UK companiesIf foreign investors are buying UK stocks againIf investors should worry about currency riskWhether supply chain disruption will ease soonMore about the fund:The team behind Ninety One UK Alpha believes that markets are excessively focused on short term factors and that most analysts typically concentrate on the next set of results and not where a company will be in five years’ time. This creates opportunities to invest in quality companies that will deliver for many years into the future. The team only buys companies that are adding value for shareholders by allocating capital efficiently. Consequently, investing in proven company management is very important. Cash flow generation is also key.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
194. What do Birkenstock, eBay, recycling and litigation all have in common?
May 19 2022
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 recessionary sell-offIf capital losses can be offset by income generationHow high yield behaves in a high inflation or recessionary environmentLending money to Birkenstock and a French recyclerThe Asian high yield marketWhy the manager likes a bond in the Indian mobile marketMaking money from lending to eBay and GumtreeInvesting in litigationMore about the fund:Baillie Gifford High Yield Bond fund offers investors access to a portfolio of predominantly UK, US and European high yield bonds. The managers, Robert Baltzer and Lucy Isles, focus almost entirely on stock picking, so the portfolio is likely to be concentrated and turnover low, as they back their ideas with conviction and give them time to come to fruition. They are looking for resilient businesses that can survive the full business cycle and can improve their financial health. Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
193. Investing for income in Asia
May 12 2022
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 issues in ChinaThe impact China’s zero-Covid policy is having on the domestic and international marketsWhich investment opportunities there are in developed and developing AsiaWhy Southern Asia is doing better than Northern AsiaInflation in AsiaHow global inflation could impact Asian exportsWhy wage increases are not coming through in AsiaIf dividend growth can keep up with inflationThe outlook for dividends in AsiaMore about the fund: Launched in 2005, the Schroder Oriental Income Fund aims to provide income and capital growth by investing in Asia Pacific companies (including Australia and New Zealand) that offer attractive yields and growing dividend payments. With a current dividend yield of 3.9%, the trust has also offered consistent growth in its own dividends since launch and is one of the AIC’s ‘Next Generation Dividend Heroes’.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
192. Why energy prices could remain high
May 5 2022
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 services that middle class populations spend money onHow to invest for decarbonisation in EuropeWhy the manager believes inflation is here to stayWhy renewable energy is expensiveThe political risk of windfall taxes on energy companiesHow the manager looks at ESG risksWhy Europe should be careful not to lock itself into higher energy pricesMore about the fund: GAM Star Continental European Equity invests in large companies, with the team preferring those it believes will grow faster than the index. The team looks to buy stocks at the point where they are either out-of-favour or where growth prospects are believed not to be fully reflected in the share price. Manager Niall Gallagher has a pragmatic approach, exhibits excellent patience in his process and conviction in his decisions.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
191. Investing in fast-food and defence via UK smaller companies
Apr 28 2022
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 management teams are now more accessible to investorsWhy seeing companies on the ground is importantThe opportunities in smaller companies todayWhy the manager likes Tortilla Mexican Grill and The Fulham ShoreHow Premier Foods is expanding in the US and CanadaMore about the fund:Unicorn UK Smaller Companies is a very high conviction fund with around 40 holdings. Its manager focuses on company fundamentals and aims to make long-term investments, while avoiding low quality, cash-burning businesses. It’s a small and flexible fund, with a solid investment process and a highly competent team. All companies must be profitable at the point of investment and a large proportion of research is performed in-house. This allows Unicorn to identify companies often missed by brokers. Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
190. Value tilts, inflation proofing and the private equity opportunity
Apr 21 2022
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 investment trusts and the adoption of alternativesTilting the fund towards value strategies to take advantage of the ongoing cyclical recoveryWhy mining and resources were attractive as an asset class prior to the threat of inflationTapping into infrastructure and floating rate notes to offer inflation-linked returnsHow value strategies offer a significant margin of safety as an investmentThe benefits of accessing private equity through an investment trustMore about the fund: The TB Wise Multi-Asset Growth fund has an unconstrained approach which allows the team to invest in around 30-60 underlying funds and investment trusts, with a preference for out-of-favour areas. This approach has allowed them to tap into the likes of infrastructure and private equity to produce strong, long-term returns for investors. Although the team adopt a very slight value bias, the fund is not exclusively value in nature.Learn more on fundcalibre.comPlease 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 FundCalibre’s research team only.
189. The long and short of making money for investors
Apr 14 2022
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.What's covered in this episode: The benefits of being able to long and short stock positionsWhat the team look for in their long positions and why identifying short positions is more challengingHow the portfolio has protected investor assets in these uncertain timesWhy the fund has stopped shorting the European banking sectorWhy they are wary of the outlook for the consumer in Europe in 2022Setting up the strategy to provide a differentiated return to marketsMore about the fund: BlackRock European Absolute Alpha co-managers Stefan Gries and Stephanie Bothwell have a fully flexible investment approach with this pan-European fund, in order to try and create positive returns regardless of market conditions. The fund offers a very wide range of opportunities – something which is enhanced by the ability to invest in both ‘long’ and ‘short’ ideas. It is also uncommon to see a fund invest in companies on both mainland Europe and in the UK, especially when also using a multi cap approach to invest in firms of all shapes and sizes.Learn more on fundcalibre.com