FundCalibre - Investing on the go

With mounting US debt and stretched valuations, investors are starting to look beyond American markets. This episode dives into the appeal of Asian equities, particularly in regions with strong balance sheets, growing consumer bases, and undervalued companies. Edmund Harriss, co-manager of the Guinness Asian Equity Income fund, explores the economic fundamentals underpinning Asia's growth, from resilient currencies and orthodox monetary policies to emerging tech leadership in areas like AI and renewables. He also highlights dividend-paying companies that offer stability and long-term income potential.What's covered in this episode: What does the rising US deficit mean?How does the growing deficit impact Asian markets?How does a weak dollar affect Asian economies? Can Asia pick up the mantle from the US?The best opportunities in the regionWhat's been driving performance? Gaining tech exposure in Asian equitiesWhy China is at the forefront of technologyThe case for long-term allocation to Asian equitiesThe outlook for Asian equitiesMore about the fund: Guinness Asian Equity Income fund invests in companies across the whole Asia Pacific region, including Australia. The portfolio is concentrated at just 36 equally-weighted stocks, and has a one-in, one-out policy, looking for a combination of capital and dividend growth. We like their approach of focusing on companies that can sustainably grow their dividend into the future and the fact that the portfolio looks very different from the benchmark and their peers.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.

Gold has broken out to new highs, but have investors truly taken notice? Jupiter Gold & Silver manager Ned Naylor-Leyland explores the evolving role of precious metals in modern portfolios, examining why central banks are buying gold while many investors remain on the sidelines. This episode covers the performance gap between physical assets and mining equities, the bullish case for silver, and why traditional safe havens like U.S. Treasuries may be losing their shine.What's covered in this episode: Is now the time to take profits from gold? Why everyone should have an allocation to physical goldWhy gold miners have lagged gold pricesPhysical gold or gold miners?Where can the gold price go from here?The impact of Trump, tariffs and the US dollarThe need for more people to allocate to goldThe relationship between gold and silverCan silver still perform?More about the fund: We like this fund's dynamism and the manager's willingness to alter its positioning to best suit current market conditions. Most funds in its peer group are unable to own physical bullion, making this a very different proposition. The fund's ability to hold up to 70% in silver also offers the potential for higher returns, albeit whilst increasing the risk profile.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.

With fixed income markets facing heightened volatility, this episode dives into how strategic bond fund managers are navigating uncertainty through flexibility and precision. Colin Finlayson, co-manager of the Aegon Strategic Bond fund, highlights the importance of managing duration risk, anticipating yield curve movements, and selecting corporate bonds based on bottom-up fundamentals. We also touch on the implications of tariffs, inflationary pressures, and fiscal policy on bond markets.What's covered in this episode: The three drivers of outperformanceIs there room to take more duration risk? Opportunities in corporate bondsThe challenging outlook for high yieldInflation considerations in the US, Europe and UKInitial reactions to tariffs and today's viewThe importance of flexibility in the fundMore about the fund: The Aegon Strategic Bond fund has a very broad and flexible remit. It invests globally and is a true strategic bond fund that can change its positioning very quickly when necessary. The managers combine longer-term strategic positions with short-term ideas.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.

We explore how valuation-driven investment strategies are navigating today's turbulent global markets. Bertrand Cliquet, co-manager on the Lazard Global Equity Franchise fund, explains why the portfolio has a significant underweight to the US, the impact of geopolitical uncertainty, and how tariffs are reshaping global economic dynamics. The interview covers their disciplined approach to stock selection, the importance of predictability in earnings, and how behavioural biases are mitigated through a rigorous peer-review process. We also explore current regional opportunities, with Europe and the UK providing fertile ground for value investors.What's covered in this episode: Why the fund is underweight USContinued uncertainty in the US market Taking into account tariffsInvesting for a realistic but conservative scenarioThe fund's “peer review” processWhy the fund holds only 25 stocks todayWhere value opportunities lie today How tariffs have impacted the portfolio so farAvoiding behavioural trapsWhat does “franchise” mean in the context of this fund?Does macro come into stock selection?More about the fund: The Lazard Global Equity Franchise fund has a very similar philosophy to some of the most successful funds in its sector, but with a very different resultant portfolio. The fund is also differentiated by the managers' systematic approach to portfolio construction, which means that behavioural biases should be removed.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.

Ajay Tyagi, manager of the UTI India Dynamic Equity fund, takes a deep dive into the changing dynamics of the Indian economy and equity market. He discusses how India's growing middle class is driving consumption, which sectors offer long-term potential, and how global trade tensions are influencing market positioning. We also cover the outlook for small and mid-cap stocks and what rising per-capita income means for future growth.What's covered in this episode: What has been the impact of Trump's tariffs on India?What's your initial reaction?Will tariffs impact holdings in the portfolio?What's the outlook for India's middle class?The IMF's lowered growth forecast The long-term appeal of the food services industry What do valuations look like today? Where are the small and mid-cap opportunities?Benefits of being a local asset managerWhy the manager expects the government to do moreGrowth in the speciality chemical sectorMore about the fund: UTI India Dynamic Equity fund invests across the market-cap spectrum of Indian companies. The investment process is based on quality, growth, and valuation, and the team conducts thorough on-the-ground research to identify and monitor companies with a high potential for significant market outperformance.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.

Commodities have always been cyclical, but today's mining sector is facing a unique blend of macroeconomic volatility, geopolitical tension, and structural change. In this episode, we hear from Evy Hambro and Olivia Markham, co-managers of the BlackRock World Mining Trust, as they discuss current disruptions like tariffs and trade rerouting, the surprising disconnect between commodity and equity prices, and the rising importance of critical materials like copper and uranium. We also unpack how unquoted investments, royalty strategies, and income diversification are helping to future-proof the portfolio.What's covered in this episode: Initial reactions to Liberation Day and what it means for the portfolioThe breakdown in commodity prices and share prices of the companies that produce themThe gold price continues to soarIncreasing exposure to gold equitiesHow you could have underperformed with a gold equity ETFThe long-term appeal of copperWhat types of companies make up the unquoted part of the portfolio?The dividend track record of the trustHow important is China to the commodities outlook?What infrastructure spending in Europe means for the sectorA renaissance in uraniumDo you expect M&A activity to continue to grow?More about the fund: BlackRock World Mining is a specialist trust offering exposure to mining and metals companies globally. Managed by one of the most experienced teams in the market, this trust is ideally positioned to tap into a number of global tailwinds set to benefit the mining sector. The trust has significant flexibility to invest across various metals and mining companies, including unquoted companies.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.

Dividend investing remains a popular strategy, but what makes a great dividend stock? Nick Clay, manager of the TM Redwheel Global Equity Income fund, explains the key characteristics of strong dividend-paying companies, the sectors offering the best opportunities, and the macroeconomic factors influencing global equity income investing. We also discuss the role of dividends in different market cycles and what investors should consider when building a diversified portfolio.What's covered in this episode: Why the fund is significantly underweight the USAre we heading towards the end of capitalism? Why a buy-and-sell discipline is so important when markets go to extremesSelling out of Qualcomm and TSMCAnd buying into LVMHIt's not doom and gloom in luxury names, or ChinaAre we headed for a prolonged period of inflation?Why inflation isn't high enoughThree reasons to add income todayWhy the Mag 7 won't protect you during market volatilityMore about the fund: Nick Clay is a highly experienced manager and the investment strategy on the TM Redwheel Global Equity Income fund 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.

In this quarterly market update, Darius McDermott and Juliet Schooling Latter analyse the latest investment trends shaping 2025. From the dominance of tech and US markets to the resurgence of China and the struggles of smaller companies, we cover the key themes impacting global investors. With valuations stretched in some regions and opportunities emerging in others, is it time to diversify? We debate the outlook for the Magnificent 7, the impact of Trump's reelection, and whether UK and US smaller companies are poised for a turnaround.What's covered in this episode: The winners of 2024Can US dominance continue?Will the Mag 7 be the winners of 2025?Why investors should look beyond US marketsUK Smaller Companies continues to be attractive The debated pros and cons of ChinaThe long-term story remains strong in IndiaWhy are smaller companies underperforming globally?Market volatility caused by Trump — and the impactWhat can investors expect from the Bank of England in 2025?Fixed income should be in everyone's portfolioLearn 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.

UK equities have long been overlooked, but things may be changing. In this episode, we sit down with Jeremy Smith, manager of the CT UK Equity Income fund, to discuss why international investors are rediscovering value in the UK market, which sectors are thriving, and the role of mergers and acquisitions in reshaping the investment landscape. We also explore the challenge of sustaining dividend income, the impact of economic trends, and whether the UK could be on the brink of a consumer boom.What's covered in this episode: What's bringing international investors back to the UK?The fund's overweight to industrialsWhy the fund is underweight commodity-linked sectorsA contrarian view on the banking sectorThe uptick in M&A activity and what it means for the fundSearching for reliable incomeWhy we could be on the brink of a consumer boomWhat makes mid-caps so attractiveMore about the fund: CT UK Equity Income is managed by the highly experienced Jeremy Smith. He looks for unloved companies listed on the London Stock Exchange, with the ability to sustainably grow their dividends. The fund is unconstrained and has a ‘contrarian value' bias. Jeremy looks for hidden gems and businesses with long-term potential.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.

Infrastructure investing goes far beyond toll roads and airports. Shane Hurst, co-manager of the FTF ClearBridge Global Infrastructure Income fund, shares how the essential assets powering our daily lives—from regulated water utilities in the UK to the electric grids supporting AI growth in the US - can provide powerful returns. He covers how global listed infrastructure can provide exposure to powerful themes like energy transition, reshoring and AI.What's covered in this episode: What are the objectives of this fund?How do you define infrastructure?What makes a water company so appealing?How water utilities differ in UK versus USWhy electrics are the fund's largest exposureCould electric companies play a bigger part in the portfolio going forward?Three airports that stand out amongst the restAdding exposure to pipelinesCan the fund invest in emerging markets? Why Trump isn't a headwind for infrastructureThe positive and negative impacts of Trump on the sectorHow AI infrastructure could benefit this fundThe risks involved in the sectorThree themes to consider for the long termMore about the fund: This fund has an excellent yield, great performance and is managed by an experienced team. The fund has delivered for investors since its launch and you would be hard pressed to find a more experienced team of infrastructure specialists. We particularly like the fund's track record of dividend growth on top of an already generous yield.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.

Mark Ellis, manager of the Nutshell Growth fund, shares his fascinating journey to becoming a fund manager with a unique quantitative process at the heart of this fund. The fund blends quality growth, and momentum factors, constantly evolving with twice-monthly reviews to ensure the portfolio holds the world's best opportunities. Mark explains why trading more frequently doesn't necessarily lead to higher costs and how his background as a trader gives the fund a crucial edge in capturing alpha. A must-listen for any growth investor. What's covered in this episode: The manager's professional backgroundMomentum in the FTSE 350The fund's unique quant processWhy the manager starts with a blank slate twice a monthWhy trading leading to high costs is a misconceptionWhen this fund will underperformCurrent trends in the marketWhy they've added Novo Nordisk and Nvidia Searching for those hidden gems in mid and small-capsAre US markets overvalued?More about the fund: This is an innovative and original fund. Nutshell Growth is a high-conviction, concentrated, pragmatic fund investing in exceptional growth companies. What makes this fund different is the heavy quantitative input which guides the manager. It is firmly on our radar as an exciting future prospect.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.

In this episode, we explore how recent AI-fuelled tech dominance may be giving way to a broader market rally. Simon Nichols, manager of the BNY Mellon Multi-Asset Balanced fund, explains how they're diversifying into industrials, healthcare, and consumer sectors, and how geopolitical factors, including the recent US election, have influenced positioning. We also discuss the evolving bond market, where higher yields are creating new opportunities.What's covered in this episode: Where does the global equity market stand today?How do global valuations look today? Is the manager diversifying away from technology? Taking advantage of opportunities in China and healthcareThe fund's exposure to UK companiesDoes a Trump presidency change the fund's positioning?An element of broadening out of technologyThe fund's bond exposureThe potential impact of Trump and Doge on bond marketsIs the manager focusing on “growth”?How inflation is factored into the portfolioBalanced as balanced could be?More about the fund: Manager Simon Nichols has created a rock-solid global multi-asset vehicle which uses themes to target the forces driving global change in markets. He does this by investing in what he calls “future-facing business models” which have the ability to tap into megatrends in their respective industries. The fund predominantly invests in global equities, but also has an allocation to 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.

Alex Araujo, manager of the M&G Global Listed Infrastructure fund, shares why infrastructure should be a key component of an investor's portfolio. We explore the different types of infrastructure in the fund —economic, social, and evolving — and how they provide essential services while offering stable cash flows and long-term growth. Alex shares insights on the impact of rising interest rates, the energy transition, digital infrastructure's rapid expansion and the geopolitical factors influencing the sector.What's covered in this episode: Why should investors consider infrastructure?The different types of infrastructure assetsInflation protection as a key driverTargeting a combination of income and growthWhat is “social” infrastructure?Why digital infrastructure is more than just AI The impact of geopolitics on these assetsWhy the fund has gold exposureThe outlook for global infrastructureMore about the fund: M&G Global Listed Infrastructure looks for a balance of growth and income from three key areas of the sector: economic, social and ‘evolving' infrastructure. This means investments can include anything from utilities and toll roads to health, education and civil buildings, as well as mobile towers, data centres, payment companies and royalties.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.

Peter Michaelis, manager of the Liontrust Sustainable Future Managed fund, has over 20 years experience in sustainable responsible investment. He shares the evolution of sustainable investing, including challenges in recent years, and why the future remains bright. This fund has over 20 underlying themes, of which we cover a handful, including resource efficiency, circular economy, healthcare innovation and digital security, complete with valuable company examples throughout. We finish with a broader look at sustainability and the potential impact of politics and Trump 2.0.What's covered in this episode: An introduction to the Liontrust Sustainable Future Managed fundLong term performance of the strategyWhy the fund underperformed recently How sustainable investing has evolvedThe three megatrends in the portfolioBetter resource efficiency and circular use of materialsInvesting for greater resilience and safetyPromoting a circular economyTwo companies combating fast fashion “We're looking for the digital camera to Kodak”Two recent additions to the portfolioOpportunities in the mid-cap area of the marketWhy Trump isn't all bad for sustainabilityMore about the fund: Liontrust Sustainable Future Managed aims to deliver capital growth over the long term through its own sustainable process and by investing in a combination of global equities, bonds and cash. The managers use a thematic approach to identify the key structural growth trends that will shape the global economy of the future, across a 40-60 stock 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.

This episode discusses the dynamics of fixed income investing, with Stuart Edwards, manager of the Invesco Tactical Bond fund, explaining how a tactical approach can help navigate volatile markets. He explains the fund's flexible strategy, covering interest rate positioning, corporate bond opportunities, and emerging markets. We also break down the importance of a top-down macroeconomic perspective, combined with bottom-up credit analysis. With insights into how recent rate cuts and inflation trends impact bond markets, this discussion sheds light on where the risks and opportunities lie.What's covered in this episode: The three key components of the Invesco Tactical Bond fundHow allocation has changed over the past yearWhat combining macro awareness and stock selection means in practiceHow the manager builds the fundWhy the UK is a fascinating space for investorsThe fund's exposure to UK interest ratesThe key opportunities in the UK marketWill UK inflation remain sticky in 2025?The Trump 2.0 effect on bond marketsHow the fund allocates to emerging marketsThe appeal of Mexican and Brazilian debtWhat is duration? How the fund's duration exposure has changed over the the past yearWhere are the best opportunities today?More about the fund: The Invesco Tactical Bond fund is the most flexible fund in Invesco's fixed income range. It is designed to capitalise on all the resources within the team and invest across the whole fixed income opportunity set. The managers use an active style whereby risk can be continually adjusted according to market conditions and the level of return on offer.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.

The path to net zero is far from certain. While climate-focused investments are growing at an unprecedented rate, global emissions continue to rise. Deirdre Cooper, manager of the Ninety One Global Environment fund, joins us as we discuss the latest trends in decarbonisation, the influence of political shifts on clean energy, and the role of major players like China in driving investment. We also examine how regulation, interest rates, and market sentiment impact the sector's performance, shedding light on the opportunities and risks shaping climate investing in the years ahead.What's covered in this episode: Are we seeing improvement on climate targets?The possibility of a Minsky moment How will a Trump administration impact climate spending?The changes to the Inflation Reduction Act Performance on the clean team sectorWhy is China seeing such significant growth? Where are the current risks in this sector? Why has consumer behaviour been slow to change? Does change in sentiment create more opportunities for investment?Three opportunities todayMore about the fund: Launched in December 2019, Ninety One Global Environment is a global equities fund that includes emerging markets, but which has a unique approach of only investing in companies that are contributing to the decarbonisation of the world economy. The portfolio has complete conviction, with just 20-40 holdings, and will have limited crossover with peers or its benchmark. Managers Deirdre and Graeme try to make the overall portfolio style neutral, with the stock selection set to be the primary driver of returns.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.

Alexandra Jackson, manager of the Rathbone UK Opportunities fund, shares insights on two fascinating UK companies — Bloomsbury Publishing and Games Workshop. Despite market challenges, these companies have successfully capitalised on their niche markets through strategic growth and innovation. From Bloomsbury's ability to thrive in the digital era to Games Workshop's cult-like following and global expansion, learn what makes these businesses resilient and attractive to investors.What's covered in this episode: The appeal of Bloomsbury PublishingHow BookTok is driving growthShould investors be worried about TikTok in the USThe niche drivers behind Games WorkshopThe promotion of Games Workshop to FTSE 100Why good management is important Putting the long-term interests of shareholders firstThe flexibility to run your winnersStructural issues in the UK marketOpportunities on the AIM marketSoftware reseller: Bytes Technology and SoftcatHolding belief in UK equities Keeping the fire alive for UK equitiesThe simple reason to buy UK equities todayMore about the fund: The Rathbone UK Opportunities fund is a flexible fund targeting quality growth businesses, looking to take advantage of cheap UK valuations. The fund combines structural winners with a strong core of high-quality compounders with a final portfolio of around 50 to 60 holdings, with a bias to mid-cap stocks.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.

As our expected lifespans increase, so does the complexity of long-term financial planning. In this episode, we explore how societal shifts, like extended careers and aging demographics, influence our financial goals. Carl Stick, co-manager of the Rathbone Income fund, gives his insights into the vital role of dividends, the importance of compounding, and how companies are embracing older workers. Carl and Darius also discuss the evolving opportunities in sectors like healthcare and pharmaceuticals, where innovation meets the challenges of longevity. Whether you're planning for retirement or considering the future impact of aging populations, this episode offers a timely perspective to help you navigate your financial planning.What's covered in this episode: The impact of increasing longevity on investing goalsHow aging workforces affect global economies, pension schemes, and healthcare systemsCompanies actively recruiting older workersCompanies offering apprenticeships for those over 50The importance of finding purpose in later-life workThe role of dividends in long-term investment growth and income flexibilityWhy it's never too late to start investingThe influence of demographic shifts in Japan and China on workforce dynamicsA focus on industries like pharmaceuticals and healthcareKey investment themes linked to longevityMore about the fund: The Rathbone Income fund gives investors exposure to a concentrated portfolio of companies with high quality and visible earnings. The managers are unconstrained in terms of sector weightings and are able to fully express their market views with the portfolio positioning. The fund usually consists of between 30 and 50 holdings. It invests predominantly in UK equities (80% or more), while up to 20% of the total may be held in cash and overseas equities.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.

Nish Patel, manager of the Global Smaller Companies Trust, shares insights into current valuations, the impact of recent interest rate cuts, and how M&A and share buybacks are shaping the small-cap space. Nish shares how his focus on quality businesses with sustainable competitive advantages can offer both growth and reduced risk. We also discuss portfolio changes, including leveraging in-house expertise and reducing holdings to focus on high-conviction ideas. What's covered in this episode: The valuations of smaller companies todayWhat catalysts are needed for a small-cap recovery?A double discount at playGrowth companies with lower riskChange of management to the trustHow the team has evolvedThe three types of businesses in the portfolioThe trust's long-standing dividend growthThe attraction of small-caps More about the fund: This trust invests in smaller companies from around the world. Fund manager Nish Patel believes that these businesses experience superior growth over the long term compared with larger companies. His goal is to go where other equity researchers won't, in order to find hidden gems at attractive prices. The firm's small-cap specialists have a well-disciplined investment process and the trust has a strong track record of beating the market. Having recently celebrated its 130th anniversary, the trust is one of the oldest in the market – it has also successfully produced 50 years' worth of dividend growth for investors.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.

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 inefficiencies in the high yield space create opportunities for active management.What's covered in this episode: What is high yield? Setting the scene for the high yield marketEurope over US exposureWhy CCC isn't appealing The inefficiencies of the high yield marketWhat active management adds for investorsHow the fund uses currency in the portfolioWhat does it mean when a high yield bond is ‘called'?Adding value through market mispricingWhat does rate cutting mean for high yield?Why this manager is optimistic about next yearBacking cyclical or non-cyclical for 2025?More about the fund: The Artemis Global High Yield Bond fund is a high-conviction fixed income portfolio investing in 60-100 high yield issuers across the globe. Managers David Ennett and Jack Holmes look to increase the value of shareholder investments through a combination of both income and capital growth. To do this they focus on the under-researched, inefficiently-priced opportunities further down the high yield spectrum, while their global approach looks to unlock opportunities and insights that regionally-focused peers may miss.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.

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: What defines an ‘exceptional growth company'?Why a long-term time horizon is keyWhat “edge” does Scottish Mortgage have on the market? The importance of human behaviourHow can investors find value in AI? The three phases of AI investmentNvidia's growth story, today and tomorrowDiversification within the AI sectorThe role of private companies in the portfolioDoes the IPO market look healthy?How the trust is positioned to “invest in progress”More about the fund: Oddly enough, Scottish Mortgage Investment Trust has no particular focus on Scottish investments and nothing to do with mortgages. Its name stems from its long history, which dates to 1909. These days, the trust typically holds between 50 and 100 companies worldwide, united by their strong growth prospects. The managers have a patient buy-and-hold approach and aim to maximise total returns – i.e. both income and capital growth – for shareholders over the long term. This fund typically has low turnover.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.

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 confidence and spending trends may shape the economy moving forward.What's covered in this episode: What does a “red sweep” mean for equity markets? Will a Trump presidency lead to further inflation?Potential corporate tax policy changesExpecting uncertainty from a further Trump presidency Decreased consumer spending in an election yearThe implications for the Magnificent Seven Trump's conflict of interest with Elon MuskWill large companies see leniency?The wider impact for global equitiesThe long-term themes still at play in US, regardless of the electionMore about the fund: Comgest Growth America is an unconstrained, highly concentrated portfolio of between 25-35 companies. This quality growth strategy endeavours to find the highest-quality companies that meet their stringent ESG criteria across the US. This fund benefits from a very clear process and experienced management team that have helped guide the fund to outstanding performance throughout their tenures.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.

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" strategy in manufacturing, and why India's politics are advantageous for business.What's covered in this episode: The boringly steady economyWhy India's valuations are high compared to their history…and wider emerging marketsFinding value in an expensive marketWhat sectors typically make up “value” in India?The fund's market cap agnostic approachWhy the chemical sector looks appealing todayHow the China Plus One policy has impacted IndiaThe effect of steady politics in IndiaEconomic growth is a function of three thingsWhat does 2025 look like for India?Which sector is the manager “supper bullish” on?More about the fund: UTI India Dynamic Equity invests in a mix of large, mid and small-cap Indian companies. The investment process is based on quality, growth, and valuation, and the team conducts thorough on-the-ground research to identify and monitor companies with a high potential for significant market outperformance.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.

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 retirementDiversification within the portfolioWhy the fund targets a minimum 4% monthly income The role the wider team at Canada Life playsThe managers' current view on the bond marketChanges to the fund's fixed income allocationHow the team finds income opportunities in the technology sectorIs big tech expensive versus its history?Will the fund change its income target?Why REITs look attractive todayThe appeal of National GridA closer look at the fund's allocation to financials The investment case for BroadcomMore about the fund: A diversified portfolio of income-generating assets, including global company shares, international government and corporate bonds, as well as property. This fund aims for a yield of a least 4%, while targeting a minimum monthly income to the investor. The fund is part of a wider range of multi-asset solutions focused on matching investment returns to a defined level of 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.

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 portfolios in managing risk and returns.What's covered in this episode: What is this fund trying to achieve? The two main issues in markets todayAre you worried we're returning into a lower interest rate environment?How does the long/short book change with interest rates?Why is now an ideal stock picking scenario? The diversion between long and short opportunities todayInsights into the US consumerBeing long obesity drugs and short hamburgersMore about the fund: Janus Henderson Absolute Return is a long/short equity fund with a UK bias, that aims to deliver a positive absolute return over rolling 12-month periods. The managers look to identify stocks that will either exceed or fall short of analysts' expectations and construct a portfolio of both long (profit when the share price goes up) and short (profit when the share price goes down) positions. There are limits on the overall market exposure, which serves to reduce the volatility of the fund. 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.

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, and finding hidden value in high-quality companies.What's covered in this episode: What makes the IFSL Evenlode Global Income fund different from its peers?Views on market volatilityHow geopolitics come into playThe appeal of the consumer goods sector Why healthcare is a good “defensive” optionA Microsoft case studyThe investment potential of artificial intelligence Investing through a difficult periodStaying true to fundamentalsOutlook for global equity income in 2025 More about the fund: IFSL Evenlode Global Income fund aims to emulate the success of the IFSL Evenlode Income fund, while benefiting from a wider global remit. The managers are not afraid to be radically different from their benchmark, which we applaud, along with their long-term focus. We also like the fund's objective to grow the dividend in the future.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.

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 US election and geopolitical tensions.What's covered in this episode: Interest rate cuts and the “Goldilocks" scenarioHow US policy impacts global currenciesWhy we need to reframe what “normal” interest rates areUK monetary policyIs Juliet still optimistic about the UK? What the autumn budget could mean for investorsDarius vs Juliet: two differing opinions on ChinaIncreased enthusiasm for technology Positivity for markets in 2025Why there's still volatility aheadLearn 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.

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 episode: Current valuations in US small and mid-caps“History rhymes, it does not repeat” The start of the Fed rate-cutting cycleHow rate cuts impact mid-cap companiesThe catalyst for mid-caps to turnaroundWhy mid-caps are the “heartbeat” of the US economyWhat does a Harris or Trump win mean for mid-caps? The diversity within the fundThe appeal of insurance and telecoms More about the fund: Run out of New York by Bob Kaynor, Schroder US Mid Cap has a focus on small and medium-sized companies, with a diversified set of return drivers, in order to dampen the risk of the overall portfolio. The investment process is underpinned by in-depth company analysis, which has led to superior stock selection over time.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.

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 improvements in areas like better labour standards and mental health. The discussion also touches on how innovation, particularly in technology and healthcare, plays a role in their investment decisions.What's covered in this episode: The investment philosophy at CCLAWhat sets the CCLA Better World Global Equity fund apart from its peers?The firms engagement with Amazon on labour standardsWhy investors need to understand companies aren't perfectSustainable investing beyond climate changeLooking at underserved topics such as mental healthHow engagement is the driving forceWhy you need to accept the bad to drive improvementsOpportunities in healthcareIs artificial intelligence a theme in the fund? How companies can use AI to expand their offeringsWill mega-cap stocks continue to drive performance?Technology businesses beyond the Magnificent SevenA “good” portfolio driving changeMore about the fund: This fund's benchmark-agnostic, responsible approach of investing in quality businesses, at attractive prices, has proven to be a very successful one since its launch in 2022, with the CCLA Better World Global Equity providing strong returns with lower volatility than its peers. This fund should be a strong consideration for anyone looking for a global fund with an ethical focus.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.

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 risks, the outlook for a weaker U.S. dollar, and how frontier markets have recovered after recent restructuring.What's covered in this episode: Why investors should add EM debt to their portfolioHow does a weaker dollar impact the asset class?The countries benefiting from geopolitical risksWhat the US election means for currencyShould investors be worried about Elon Musk's dispute with Brazil's supreme court?Why the China slowdown narrative isn't quite rightWhat currencies look most appealing today?How the fund uses shorts, including an exampleMore about the fund: The BlueBay Emerging Market Unconstrained Bond fund is a truly active fund, managed by an exceptionally experienced and well-resourced team. The fund is set up to deliver alpha and historically it has done just that, indicating it has an extremely consistent process. This is a difficult asset class which requires expert understanding across multiple geographies. The team behind this fund have this expertise and it is one of the most impressive we've seen in this space.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.

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 this episode: Introduction to the New Perspective fundWhat differentiates the fund in the IA Global sector? Identifying global champions before the marketsThe unique management structure of the fundImplications of economic growth inflation and interest ratesOutlook for global equitiesEntering a new period of economic regime Positioning the fund todayWhat areas of healthcare are most attractive?What is the industrial renaissance? How does it fit into the fund?Is this strategy still relevant today? Where does New Perspective fit in a portfolio?More about the fund: This is the flagship global equities strategy of Capital Group and is now available as a UK-domiciled OEIC. It has a track record of 50 years, investing in some of the world's largest multinational firms that are able to benefit from transformational changes in the global economy. The fund has a unique multiple-manager structure, with each of the nine named managers running their ‘sleeve' in their own way. Their best ideas are blended together for a diversified 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.

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 the ultimate contrarian play? The potential catalyst for ChinaIncreased buyback and dividend support in ChinaWhat makes South Korea so attractive today? Is corporate governance at a turning point in Korea?AI-exposure in the fundCan you find value investments in India? What are the regional “bright spots” for investors?More about the fund: Federated Hermes Asia ex Japan Equity is a concentrated fund investing in emerging markets within the Asia ex-Japan region. Its manager, Jonathan Pines, is willing to buy all types of companies if the price is right. He actively invests in stocks that are currently out of favour but which he believes are likely to perform better in the future. Jonathan Pines is a highly experienced manager and has spent well over a decade working on this fund. The process has historically worked very well, with the fund delivering excellent long-term performance.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.

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 demand of metalsWhere are we in the investment cycle?What's your view on gold?What's driving the copper market?How is artificial intelligence linked to metal demand?What themes are going through the portfolio today?The role of metals in the energy transitionDoes inflation impact these companies and metals?Why the manager's view on gold has changedWhere are the best opportunities today?More about the fund: Managed by one of the most experienced teams in the market, the BlackRock World Mining Trust is ideally positioned to tap into a number of global tailwinds set to benefit the mining sector. The trust has significant flexibility to invest across various metals and mining companies, including unquoted companies. The trust also offers an alternative – and attractive – source of income to investors. The result is a conviction-led approach to investing in the mining sector, as opposed to focusing on the short-term direction of commodity prices.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.

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 market to watch.What's covered in this episode: Why Japan has been making headlinesMore volatility to come?Why investors need to wake up and smell the coffeeLooking for “biggest growth at the lowest price”Have growth companies seen a de-rating?The company benefiting from renewables and airline traffic“Cosmetic” versus “real” reform in Japan What Japan has to offer to investors More about the fund: Comgest Growth Japan is a concentrated portfolio of only 30-40 high quality long-term growth companies that are either head-quartered, or carrying out their predominant activities, in Japan. Each holding has been bought with a three to five-year outlook. The managers believe that Japan is full of under-researched companies with great capital discipline, barriers to entry and growth. Their mission is to find them.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.

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 high yield bondsWhere high yield sits todayThe impact of interest rates on this area of the marketWhy good companies don't always make good bondsWas high yield impacted by the volatility in markets in early August?Why volatility isn't something to be fearedHow central banks impact bond inefficienciesWhy all-in yield is more important than spreads at the momentHow the fund is yielding 8% todayThe best opportunities in the market todayWhy the managers are watching unemployment ratesThe role of high yield in an investor's portfolioMore about the fund: Aegon High Yield Bond is an unconstrained, high-conviction, global high yield bond fund. Their approach is bottom-up focused, with an emphasis on deep, fundamental credit analysis. They complement this by a structured top-down process that governs overall risk. Their flexible mandate allows them to maximise their opportunity set by avoiding unwanted constraints imposed by a benchmark.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.

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 returns for clients.What's covered in this episode: Cost efficiency in portfolio managementBenefits of in-house tools and economies of scale at SchrodersImportance of adapting to economic changesChallenges with the traditional 60/40 portfolioImpact of inflation and geopolitical risksThree-stage process for building a diversified portfolioAdvantages of real-time access to managersExamples of using ETFs in the portfolioManaging client exceptions with risk-mapped portfoliosCurrent positions amidst current market volatilityEvaluating the potential for soft versus hard economic landings More about the fund: The Schroder Global Multi-Asset Cautious Portfolio aims to provide capital growth and income by investing in a diversified range of assets and markets worldwide, with a target average volatility (a measure of how much the fund's returns may vary over a year) over a rolling five-year period of 4% per annum. The fund adopts a fettered approach by using Schroder's own fundamental and systemic active solutions, alongside some passive positions, to build a cost-efficient portfolio for investors.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.

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 corporate reforms impact wider marketsWhat a weak yen means for corporates and investorsHow corporate reforms are influencing the financial sectorContinued appeal of SoftBankWhen share buybacks are a bad ideaManagement changes in Japanese companiesHow dividend pay outs have evolved in JapanThe importance of growing dividendsWhy 50% in manufacturing is misleadingThe growing demand for automation The slow trend to digitalisation and digital paymentsHow Covid has accelerated cultural changeWhat the next 18 months could have in store for investorsMore about the fund: Launched in July 2016, Baillie Gifford Japanese Income Growth aims to benefit from the improving corporate governance in Japan, as more and more businesses move towards a progressive dividend-paying policy. The managers apply the same well-tested growth investing philosophy and process used by their other Elite Rated funds, combined with a focus on companies with the best dividend growth opportunities.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.

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 your view on inflation and rates?How does that impact government bonds?Three potential scenarios for economiesThe true flexibly of this fundAppeal of South Africa local currency bondsWhere do opportunities lay today?What might we expect for the second half of 2024? More about the fund: Nomura Global Dynamic Bond fund is an unconstrained strategic bond fund, with a focus on total returns. The manager invests in the entire range of bond sectors including government bonds, corporate bonds, emerging market bonds and inflation-linked bonds. We believe this fund offers an excellent option for all market conditions in terms of both yield and capital return.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.

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 Income Plus Limited What the trust aims to achieve for shareholdersThe advantages of a closed-ended strategyOpportunities in smaller more illiquid areas of the marketWhat are subordinated bonds?…and why are they attractive?What is a bank CoCo? The importance of cashflowWhy a “stressed” bond could be appealingThe importance of diversification in the portfolioFinding investments in the riskiest part of the marketHow the trust uses gearing to maximise returnsPortfolio positioning todayWhat is BIPS dividend target?More about the fund: Invesco Bond Income Plus Limited (BIPS) aims to provide capital growth and a high income by investing predominantly in high-yielding fixed income securities. Rhys and his team can invest across the fixed income spectrum, but tend to focus specifically on the high yield market in Europe and the UK. The team have demonstrated their ability to manage risk through diversification, while also paying a consistent level of dividend for a number of years.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.

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 exciting: silver or gold?The role of metals in the shift to decarbonisationThe impact of lead time in the mining sectorIncreased demand for lithiumM&A activity within the portfolioWhat do precious metals add to a portfolio? How do metals perform in a rate cutting environment?Why site visits are an essential part of the jobMore about the fund: WS Amati Strategic Metals is a great portfolio diversifier that taps into unique investment opportunities, including the transition to a lower-carbon world. The fund benefits from having co-managers with both strong technical and industry knowledge, and who use their global network of CEOs, brokers, commodity traders, mining engineers and geologists to unearth the best opportunities in the sector.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.

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 rate trends and potential investment opportunities in undervalued markets.What's covered in this episode: Are UK smaller companies turning a corner?The underperformance of fixed income and what's needed for a reboundWill we see rate cuts this year?Is Latin America uninvestable?Can we expect further growth in India?Do elections really matter to markets?What does a new UK government mean for markets?What does a new UK government mean for UK savers and investors? The impact of US elections on the healthcare sectorHow do geopolitical tensions influence investment decisions?What's your outlook for the second half of 2024?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.

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 benefit of thematic investingTargeting seismic thematic shifts, for example, an aging populationWhy the market is underestimating the AI opportunityThe cross-section of AI and the stated megatrendsThe “techno-industrial revolution” The investment case for Atlas CopcoHow to evaluate a company like NVIDIAThe investment case for long-term holding MastercardDo macro changes influence underlying holdings? More about the fund: Zed has shown himself to be an excellent manager of high-conviction strategies. This trust has the ability to tap into a series of long-term themes – such as the rise of electric vehicles, growth of the emerging market middle class and the onset of artificial intelligence - which have the potential to deliver strong outperformance for investors. The highly-driven research approach has proven to be extremely successful over the longer term across a range of portfolios.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.

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 $4.5 billion to $30 billionValue or growth: where do opportunities lay today?Why small-caps are due to come back into favourThe impact of interest ratesDo smaller companies have more debt?Case study: Manhattan AssociatesWhy hybrids are more attractive in the USMore about the fund: T. Rowe Price US Smaller Companies Equity has a flexible approach looking for both growth and value opportunities in the small and mid-cap space, to build a diverse portfolio of the best ideas from the vast analyst resource at his disposal. The manager will allow his winners to run as long as he still believes there is a return opportunity. As such, the portfolio is likely to have more of a mid-cap bias than its peers. This approach has borne fruit, with considerable performance coming from stock selection.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.

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 themes are in the portfolio? The powerful impact of semiconductorsAre we in a semiconductor super cycle?Why the managers are trimming their Nvidia exposure Is AI a benefit to investors? Is Nvidia's earning growth healthy?Opportunities in healthcare innovationTwo recent additions to the portfolioMore about the fund: The Guinness Global Innovators fund focuses on innovative and disruptive companies and has identified nine key innovation themes. These themes are advanced healthcare; artificial intelligence and big data; clean energy and sustainability; cloud computing; internet, media and entertainment; mobile technology and the internet of things; next generation consumer; payments and FinTech; robotics and automation. The fund will naturally have a heavy bias in favour of the growth style of investing.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.

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 portfolioIs anti-globalisation and re-shoring a threat to global brands?How have companies managed inflation?More about the fund: The investment team behind Morgan Stanley Global Brands have a mantra: ‘don't lose money', which will possibly be as comforting to investors as the familiar names that can be found in the portfolio. The fund is a very concentrated portfolio of high-quality global companies, with features such as strong network benefits and brands, or licenses and permits that can provide an advantage over competitors. They will also look for companies benefiting from economies of scale and leading market distribution.Disclaimer: The fund mentioned herein is available to UK investors only. All investments involve risk, including the loss of principle. Full details and risks associated with the fund can be found in the fund's Prospectus at www.morganstanleyfunds.co.uk. The fund is available through your Investment Adviser and applications for shares in the fund should not be made without first consulting the current Prospectus, Key Investor Information Document ("KIID"), Annual Report and Semi Annual Report (“Offering Documents”), or other documents available in your local jurisdiction. This content has been prepared solely for informational purposes and does not constitute an offer or a recommendation to buy or sell any particular security or to adopt any specific investment strategy.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.

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 murky environment A contrarian view on UK and JapanPatience is key for fund managers and clientsWhat are the “four horseman of the stock apocalypse” Is gold still a contrarian investment?The portfolios idiosyncratic investmentThe backbone of AI (spoiler: it's not Nvidia)Why DRAM is important to AIIs ESG investing failing? More about the fund: Orbis Global Balanced scours the world for the best investment opportunities across a number of asset classes including equities, fixed income and commodities. Manager Alec Cutler believes one of the key advantages of the portfolio is the ability to focus on best ideas and making them “fight for capital”, with every holding needing to be an active contributor to the fund.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.

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 digital infrastructure?How has AI increased demand for the sector?The importance of data centres in an AI worldDo high interest rates create a challenge for the sector?What type of companies is the portfolio exposed to?Digital infrastructure in emerging marketsThe significance of smartphonesTwo examples of underlying holdings in the portfolioMore about the fund:Schroder Digital Infrastructure seeks to take advantage of the necessity for a sustainable transition to a digital economy. Managed by Tom Walker and Hugo Machin, the fund invests in around 40 companies across both developed and emerging economies. The managers have over 20 years' experience investing in digital infrastructure with this fund ideally positioned to tap into the post Covid-world and the exponential growth in the sector needed to provide future global economic 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.

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 valuationsWhat's covered in this episode: How do the Indian elections impact markets?What would a Prime Minister Modi win mean?What is the ‘Make in India' programme?The increase in manufacturing in the countryIncreased opportunities in consumer discretionary and industrialsIs the Indian stock market overvalued?The appeal of financials in IndiaThe digitalisation and formalisation of the Indian economyWhy online payments boost the governments balance sheetThe return of the retail investor in IndiaWhy almost half the portfolio is in SMID companiesMore about the fund: Goldman Sachs India Equity Portfolio's objective is to capture the growth potential of the Indian economy. It is focused on investing in sound businesses of all sizes. Company meetings are a crucial part of the process, and the team's ability to meet companies on the ground in India differentiates it from many in its peer group.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.

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 episode: How have UK companies fared of late?How do interest rates impact smaller companies?Why now is an attractive time for investorsHow prevalent has M&A Activity been?The rise of share buybacks in the UKGetting the domestic investor back into UK equitiesTwo exciting funds today: Alpha Group and TrainlineAre their concerns over liquidity in the fund?Should investors be optimistic on the UK?More about the fund: An unconstrained portfolio, seeking structural UK growth businesses that can grow faster than the economy, this fund is managed by a highly experienced team of small cap specialists. The portfolio of 65-70 companies focuses on structural growth businesses, which the managers' believe can add value in the under-researched small and mid-cap part of 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.

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 ChatGPTWhat's the current state of AI today?Three ways to invest into the AI storyAre their barriers to entry in AI solutions?Indirect plays into the AI theme for an investorHow sectors like travel and agriculture are influenced by AI The significance of AI in the healthcare sectorThe impact on drug discoveryWhat should we expect with the new ChatGPT version?Is AI the next Dotcom bubble? Why having a value discipline is so important What's the next stage of AI? More about the fund: Sanlam Global Artificial Intelligence fund ‘eats its own cooking', using an artificial intelligence system to help find companies whose business models are aligned to benefit from this growing theme. The fund is unconstrained in that it can invest in businesses of almost any size and in more than just technology stalwarts; around half of the portfolio can be found in the healthcare and consumer and industrial-related sectors.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.

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?When should investors expect rate cuts?Why government bonds over corporate bondsThe return of the 60/40 portfolioHow does geopolitics influence the fund?Why the fund has its lowest weighting to UK equities since launchThe growing importance of MedTechWhy defence companies look attractiveThe appeal of Next and CostcoWhat type of holdings make up the ‘diversifiers' bucket?More about the fund: The Rathbone Strategic Growth Portfolio focuses not only on returns, but also on risk and correlation. Manager David Coombs uses a disciplined asset-allocation framework, and a forward-looking assessment of correlation, risk and return, as the cornerstone of the investment process. Asset classes are then divided into three distinct categories – liquidity (those that can be bought and sold easily), equity risk and diversified.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.