This episode discusses why high yield bonds, often labeled as ‘junk bonds,’ can be an attractive investment and how today's market is different from previous decades. Jack Holmes, co-manager of the Artemis Global High Yield Bond fund, shares their strategy of focusing on European and UK markets and prioritising higher quality bonds, like BB and B ratings, while avoiding riskier CCCs. Additionally, learn why shorter-dated bonds are favoured in the current yield environment and how inefficienci...

Hamish Maxwell, investment specialist on Scottish Mortgage Investment Trust, offers listeners a comprehensive look into the current state of the global markets. The discussion highlights the trust's core strategies for navigating volatility and adapting portfolios for resilience. Hamish shares insights into sector rotations, geopolitical impacts, and emerging market opportunities that are critical for investors looking to invest over the long term. What’s covered in this episode: Wh...

A special bonus episode looking at post-election analysis. We unpack the implications of the projected Trump win and the potential for a Republican clean sweep of the House and Senate. Justin Streeter, manager on the Comgest Growth America fund, joins us to discuss potential shifts in tax policies, corporate regulations, and market volatility. We explore which sectors might benefit from this political climate, the potential inflationary effects, the future of the tech giants, and how consumer...

Ajay Tyagi, manager of the UTI India Dynamic Equity fund, focuses on India’s economic growth, market trends, and demographic advantages. He highlights the impact of India’s young, increasingly affluent population on sectors like consumer goods, tech, and financial services. We also discuss how despite high valuations, India’s steady growth trajectory and quality-focused investment opportunities remain appealing to long-term investors. Ajay mentions key sectors to watch, the "China Plus One" s...

Craig Rippe and Jordan Sriharan, co-managers of the WS Canlife Diversified Monthly Income fund, reveal how they aim to provide a stable, inflation-adjusted income stream while keeping volatility low. We cover the team’s approach to navigating market changes, selecting stocks, and managing interest rate risks. The interview also highlights how tech companies, REITs, and renewable sectors contribute to the portfolio.What’s covered in this episode: A fund designed for retirementDiversificat...

This interview explores the shifting market environment, with a focus on how rising interest rates have created opportunities for stock pickers. Luke Newman, co-manager of the Janus Henderson Absolute Return fund, shares his insights on why today’s higher-rate environment benefits active managers and how it contrasts with the past decade of ultra-low rates. We touch on the behavioural changes among corporate leaders, the importance of stock fundamentals, and the role of tactical and core port...

Ben Peters, co-manager of the IFSL Evenlode Global Income fund, explains the fund’s focus on total returns and growing income streams. He shares how certain sectors, including consumer goods, healthcare, and information technology, provide resilient investment opportunities. We also touch on the effects of geopolitics and the long-term potential of artificial intelligence. The interview finishes with Ben’s views on navigating market volatility, maintaining conviction during underperformance, ...

Darius McDermott and Juliet Schooling Latter join us once again for our quarterly market update. They cover the most recent developments in global markets, with a special focus on the Federal Reserve’s interest rate cuts and their influence on both the US and UK economies. We hear two differing opinions on China’s rebound and insights into what the future might hold for UK equities and global small-caps. The episode wraps up with a preview of potential risks heading into 2025, including the U...

Bob Kaynor, manager of the Schroder US Mid Cap fund, outlines some exciting opportunities in the US mid-cap market, currently trading at historically significant valuation discounts. We discuss how these companies, the “heartbeat of the US economy,” stand poised for potential growth, driven by earnings acceleration and favourable fiscal policies. We also touch on the recent Fed interest rate cuts, their effect on market behaviour, and how mid-cap stocks could benefit.What’s covered in this ep...

We discuss sustainable investing with two key figures from CCLA: James Corah, head of sustainability, and Charlotte Ryland, head of investments and manager of Elite Radar CCLA Better World Global Equity. They explain their unique approach, which balances achieving robust financial returns with driving significant societal change. We explore their engagement strategies with large corporations (including Amazon), including those not typically associated with sustainability, to push for improvem...

Polina Kurdyavko, co-manager of the BlueBay Emerging Market Unconstrained Bond fund, provides an excellent in-depth look at emerging market (EM) debt, offering insights into why current valuations in hard currency sovereign debt are among the most attractive in decades. We discuss factors contributing to strong growth in key emerging markets, from Brazil to India, and how local currencies are poised for outperformance. The conversation also touches on global dynamics, such as geopolitical ris...

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. Add...

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 ...

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 fo...

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...

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 ...

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 ...

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 ...

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 with...

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...

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...

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 ...

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 qual...

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 cov...