We begin this week's episode with a rundown of industrial metal price movements. From copper’s boom, Russian sanctions and the price of gold, our commodities correspondent Alex Hamer reveals what investors need to know on all things metal. A change in fate has swept across one of the UK’s most well-known and loved funds: Fundsmith Equity. It has not beaten its benchmark for the past three years, bringing a concerning end to its long run as a high-growth fund. Dave Baxter talks about the...

We begin with Julian Hofmann, whose latest article covers the companies left behind as doom and gloom takes hold of the British market. Many investors have been turning their noses up at British stocks but Julian says there is still value to be found. He touches on some of these, such as furniture brand DFS, and how investors can calculate a share’s value.  Next is Jemma Slingo who reports on the world’s leading thread manufacturer and British heritage brand Coats. The company recently...

Joe Bauernfreund and value investing are nearly synonymous. The veteran manager runs the AVI Global Trust and AVI Japan Opportunity Trust, and has responsibility for all AVI’s investment decisions as the CEO and CIO. His £1bn global stocks fund scours the world for the best companies but whose shares stand at a discount to the value of their underlying assets. In this podcast, funds editor Dave Baxter and Bauernfreund unpack his extreme value investment process, how Japanese valuations have...

We begin with one of the biggest names in the EV game: Tesla (TSLA). Shares are down by a third this year and Mark Robinson discusses what has caused this slump. Competition from China’s BYD certainly poses a threat but diminishing trust and popularity are also at play. Next, the author of our cover feature this week, Christopher Akers, shares his thinking behind the piece The travel stocks making the most of the recovery. Many companies are reporting record trading, an interesting occurrence...

Mark Robinson hosts this week’s episode and begins with a rundown of the latest news in the financial world, from Donald Trump’s Trust Social listing to the Bank of England’s warning on private equity bubbles.  This week’s cover feature on Britain’s top-rated funds is up first. Dave Baxter shares what readers can expect from the article, including the trends picked up by our analysis and the big-hitting funds that can boost portfolios.  Julian Hofmann discusses the credit card and...

Alex and Lord Lee have reunited for the seventh episode of Lee and the IC, two weeks on from Jeremy Hunt’s Spring Budget.  The announcement of a British Isa could shake up the UK’s private investing landscape so the pair begin by mulling over the practicality of the tax shelter and how future governments can improve the public’s attitudes towards investing. In his statement, Hunt also announced the government would be selling its NatWest (NWG) shares, which could be the move to get the ball...

We begin this week’s episode discussing specialist engineering company Dowlais (DWL) which has found itself making a considerable £450mn operating loss. Mark Robinson shares his thoughts on the business's health since the spin-off from Melrose and debates the effect the EV transition will have on the company. Dan Jones then stops asking the questions and answers them on his recent feature on Vodafone (VOD). Investors may struggle to name a more disappointing stock since the turn of the...

In the latest episode of the IC Interviews, Dan Jones hosts Abby Glennie, deputy head of smaller companies and co-manager of UK smaller companies strategies at Abrdn.  As part of Abrdn, Glennie has been pivotal in the world of domestic small-cap shares. In the show, the pair discuss some of the Abrdn UK Smaller Companies fund's holdings, including Bytes Technology, 4Imprint and CVS Group, as well as the current angst over the UK market, portfolio allocation changes, and the ‘Matrix’ stock...

We begin this week’s episode with TP Icap, the interdealer broker. Julian Hofmann reports on the figures that came out recently, and he and Dan discuss the divisions driving performance, its electronic trading push and the business's valuation.  Val Cipriani, author of this week’s cover feature the IC’s guide to Isas 2024, then runs us through the importance of understanding the allowances, the ‘simplification’ changes made and some of the platforms investors can utilise.    Last up, Mark...

The chancellor Jeremy Hunt unveiled his Spring Budget and so we begin with economics expert Hermione Taylor unpacking all the major announcements. She explains what it could mean for the upcoming election and the impact on the country’s finances. The team also weigh in on the new British Isa – something that has divided the investing world. The Budget isn’t the only big news, results season is in full swing and Julian Hoffman covers one of the most popular UK companies: Legal & General...

Foll currently works as a portfolio manager on the Global Equity Income Team at the Janus Henderson Investors fund, where she has held the position for 10 years. In the episode, the pair discuss where the team tends to focus when stocks don’t pay dividends, the compelling opportunities in the UK market, some of the specific stocks the fund currently holds and one of the fund's largest holdings, Rolls-Royce. This episode was recorded on 27 February. Timestamps 00:59 How does the trust differ...

In this week’s podcast we begin with our cover feature on companies with brand power. We unpack why consumer staples are under pressure, the competitiveness of consumer health and share the story of how Sensodyne toothpaste became a staple product. As company results season is in full swing, we pivot only slightly to two consumer brands that have reported results this week, Haleon and Reckitt Benckiser. We discuss what has gone well for the companies as well as the concerns ahead. Last but...

In the sixth episode of Lee and the IC, Alex and Lord Lee are joined by Miles Adcock, chief executive of computing product manufacturer Concurrent Technologies.  The trio discuss the background of Concurrent, a favoured holding in Lord Lee’s portfolio, when Lord Lee began investing in it, how both he and Adcock view the company’s prospects amid current geopolitical tensions, how to navigate the unknowns of a complex stock as a private investor, and much more. This episode was recorded on 23...

We begin with Julian Hoffman who delves into the details of recently published banking results. He explains what was hidden inside Barclays’ results and whether it can afford its £10bn payout to shareholders. Julian and Dan also discuss HSBC’s impairments and NatWest’s dividend. Val Cipriani has written this week’s cover feature on taking advantage of the growing need for data centres. She and Dan discuss the background to the piece, the operators and the headwinds they face, and she explains...

In the latest episode of the IC Interviews podcast, Daniel Peris, a senior portfolio manager at Federated Hermes, discusses his new book, The Ownership Dividend, with IC associate editor Alex Newman. The two discuss: The backstory of The Ownership Dividend (what happens when interest rates go down for 40 years and what happens to investors when that stops?)The fleeting/ephemeral nature of corporate dividends Dividends in the USMetaShell Hosted on Acast. See acast.com/privacy for more...

We begin this week’s episode with Jemma Slingo who covers top-10 FTSE data and analytics company Relx (REL). Jemma walks listeners through the company’s growth, its latest buyback news, and the issues it has faced with universities. Knowing when to sell their shares is a common question investors ask and this week, Alpha editor James Norrington lays bare the answers in our cover feature ‘How to know when to sell shares’. He reveals biases investors should avoid when selling either a...

We start this week’s show with property writer Mitchell Labiak, who delves into the details of the big takeover story of the week – the £2.5bn Barratt (BDEV) and Redrow (RDW) deal. The team weighs in on how sensible the move is, the two companies’ recent results and whether this could be the beginning of a swathe of housebuilder M&A activity. It’s then on to healthcare company PZ Cussons (PZC) whose shares slumped after weaker-than-expected results. Christopher Akers examines the...

In the latest episode of the IC Interviews, funds editor Dave Baxter sits down with the head of equities at Premier Miton Group and Diverse Income trust manager, Gervais Williams.  In the conversation, Gervais shares why he is upbeat about capital-intensive industries and reveals why customer service is a key criteria he considers before adding a company to the portfolio. The two also discuss why the fund tries to avoid share buyback situations, the case for optimism for supermarkets and...

Jennifer Johnson talks about the recently published GSK results, which showed strong growth, but the ongoing Zantac litigation is hanging over the shares. The team also touch on the prospects of rival pharma companies AstraZeneca and Indivior. Our US-based journalist Arthur Sants joins from New York to unpack the growth, capex and future returns worries investors may have about the Magnificent Seven. It’s then on to food producers AG Barr and Premier Foods with Mark Robinson, who shares news...

This month’s episode begins with an examination of one of Lord Lee’s holdings: Secure Trust Bank. The pair discuss its unique position in the market, its performance since its 2011 IPO, and how it fits in with his view of the broader UK economy. The landscape for investors has changed significantly since Lord Lee began his journey six decades ago. Alex takes the opportunity to ask what he makes of the rise of index tracker funds and fall in popularity of private investing, and the differences...

In our latest episode, we start with gold miners, Centamin and Hochschild, both of which have released trading updates. Alex Hamer and Julian Hofmann unpack the news, revealing the contrast between the two. Alex Newman joins in to discuss the role of gold in a portfolio given the geopolitical context, and shares thoughts on just how good miners are at beating the gold price. It’s then onto this week’s cover feature by Jemma Slingo on the textile industry. As the awareness of the industry’s...

In our latest IC Interviews episode, funds editor Dave Baxter sits down with Tom Slater, manager of the Scottish Mortgage Investment Trust.  With a simple philosophy of maximising returns over the long-term, and having secured a 300 per cent return in the 10 years to January 2024, Scottish Mortgage Investment Trust is best known for acquiring ownership of some of the world’s top growth companies. However, it’s not immune to volatility and the past few years has seen a downturn in the growth...

We begin with emerging markets, focussing on Ashmore’s (ASHM) latest figures. Thanks to expectations of interest rate cuts, the investment manager’s shares were up 25 per cent in the last quarter, after a tough time for emerging market-focused companies. Julian Hofmann shares what investors can take from this promising uplift and where we can expect Ashmore to focus in the future. The author of this week’s cover feature on India’s economy, Alex Hamer, discusses our Big Read, revealing the...

Dan Jones and the IC gang discuss the airline story that hit the headlines this week – Boeing’s (BOE) door blowout. Could this safety problem be the straw that breaks the camel's back? Michael Fahy and Alex Newman unpack what may lie ahead for the business, how its sole competitor Airbus (FR:AIR) might benefit, and whether other nations could end up competing against the two industry giants. This leads neatly into our segment on this week’s cover feature, ‘The winners and losers of a more...