Please find a series of short videos we shot last week with a handful of Fund managers that make up our MPS.
In no particular order, there’s videos with:
- Andy Marsh who runs the Artemis UK Equity Income Fund
-
Chris Bowie who runs the TwentyFour Absolute Return Credit Fund
- Ian Lance who runs the Redwheel UK Equity Income Fund, and
- Piers Hillier, who’s the CIO at Royal London and runs the Royal London Global Equity Diversified Fund (Video to be added shortly!)
Please enjoy this video with Andy Marsh who is a Portfolio Manager at Artemis. Andy (and his team) run the Artemis UK Equity Income Fund which is one of the core holdings within our UK equity holdings witihn the MPS models. Andy and the team focus on sustainable cashflows within the companies that they invest. This tends towards more consistent returns (hence it being a core holding for us) and a diverse group of companies. This year, 3i Group has been a key performer for them but they’ve also benefited from names such as Tesco and Imperial Brands which we discuss. These names highlight their process and also highlight the disconnect between the stock market and the economy: Tesco has performed well in the face of increased wage bills and NICs, whilst Imperial Brands has performed strongly in a shrinking market.
Please enjoy this video with Chris Bowie who is a Partner and Portfolio Manager at TwentyFour Asset Management. Chris runs the excellent TwentyFour Absolute Return Credit Fund which sits within the “short-dated” fixed interest allocation of our MPS models. This Fund has a very strict focus on risk management and seeks to generate return by picking short-dated bonds. I referred to this Fund as being “boring and predictable” when talking to Chris and (thankfully!) he took that as a compliment! This Fund’s job is to grind out decent returns, with low levels of risk and Chris and his team do an outstanding job at delivering this.
Please enjoy this video with Ian Lance who is a Portfolio Manager at Redwheel Asset Management. Ian runs the Redwheel UK Equity Income Fund which we allocated to in January this year. It is one of our smaller “satellite” allocations within the MPS models as it is a punchy strategy that can take very different views from the benchmark. Ian has benefited this year from owning “turnaround” companies such as Marks and Spencer and also owning cheap companies (such as Natwest and Standard Chartered) which are buying back their stock (as they generate positive returns for shareholders). Despite having had an extremely good year, Ian’s Fund trades on less than 9x earnings. This is a big discount to the wider UK market (at c12x earnings) and of course the wider Global market (which trades at c21x earnings). Hence most of the performance this year has been driven by earnings growth (companies within the Fund making more money) as opposed to a re-rating.
