The Aegon Diversified Monthly Income fund has the flexibility to pursue the most attractive income opportunities that its managers can find around the world. Co-manager Vincent McEntegart tells us more about the current opportunities for income seekers, focusing primarily on the fund’s rotation towards the bond market. Vincent tells us why the fund has been reducing banking exposure, infrastructure and real estate, in favour of investment grade and high yield bonds, and finishes by explaining how they are making money from the Brazilian currency.

What’s covered in this episode: 

• How the fund has maintained a yield of 5% for investors
• Why investment grade bonds are a bigger part of the portfolio today
• Why the fund has been reducing banking exposure
• Bank equities versus bank bonds
• Why the fund has reduced global equity exposure
• Why property markets are struggling…and where the fund is investing instead
• How markets are influencing the portfolio’s stance 
• How the fund manages currency risk
• Why currency is like the share price of your economy 

More about the fund:
The Aegon Diversified Monthly Income fund targets a yield of around 5% per cent year, which is paid monthly to investors. This is a truly diversified, multi-asset fund, with a mixture of bond, equity, property and alternative exposure. The fund is well-resourced and well supported by a 12-strong multi-asset team and other specialist asset-class teams across the group.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 Investing on go podcast was launched four years ago today and, in that time, we’re conducted over 250 interviews, had over 75,000 listens, not to mention a global pandemic, inflation, recession and a banking crisis. Needless to say, the last four years have been a bumpy road with the podcast coming along for the ride. Darius McDermott, Juliet Schooling Latter and Sam Slator mark the occasion by looking back over the last four years and looking ahead at what’s to come from markets. 

What’s covered in this episode: 

• What’s the outlook for markets today?
• The most telegraphed recession in history
• Which style will prevail in 2023
• Why dividends will play a bigger role in portfolios going forward
• Why commodities are different today than a decade ago
• What makes bonds attractive for investors today
• Why property investments often reflect the state of the wider economy
• Which areas our contrarians are backing this year
• Darius and Juliet highlight their favourite podcast episodes over the four years

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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.

Climate finance is an area that continues to see growth and, for the first time, in 2022 the world spent more on this area than on the investment in the fossil fuel ecosystem according to today’s guest. Deirdre Cooper, co-manager of the Ninety One Global Environment fund, joins us this week to talk about the growing opportunities in climate finance and how legislation from various countries impacts global efforts. Deirdre explains the unique investment process of the fund and how they go about reporting on the carbon avoided and the supply chain of their companies. Deirdre also goes into detail on the different struggles — and accomplishments — of European, Chinese and US economies when tackling climate change.

What’s covered in this episode: 

• How to find products and services that avoid carbon
• The growing investment into climate finance
• To achieve net zero, climate finance needs to top $6 trillion
• How the fund works with the Carbon Disclosure Project to report on carbon avoided
• The carbon footprint of a utilities company versus a software company
• Why European companies will struggle to reduce their carbon footprint this year
• Growing acceleration in China’s EV markets
• The impact of the Inflation Reduction Act on decarbonisation globally
• Energy efficiency in Europe without Russian gas
• What higher inflation means for the 2050 net zero target
• What the cost-of-living crisis means for an individual’s carbon footprint
• Why the US has surpassed Europe in climate policy
• Why the Inflation Reduction Act will be a key debate point in the next US presidential election 

More about the fund:
The Ninety One Global Environment fund is a genuinely unique fund investing in companies that are contributing to the decarbonisation of the world economy. ESG factors are put first and foremost in the construction of this highly concentrated portfolio, with just 20-40 holdings. The fund will have limited crossover with peers and its benchmark given its unique strategy, and it is set to benefit from the massive tailwind of the some $2.4 trillion of annual spend required to meet global temperature goals.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 approximately 41,000 companies listed worldwide, how’s an investor to choose? And once invested, how do you keep your emotions in check? In this interview, Bertrand Cliquet, co-manager of Lazard Global Equity Franchise fund, tells us how this fund’s emphasis on good economic franchises filters that list down to an eclectic mix of just 26 stocks. Bertrand also explains how the process uses a behavioural analysis filter and why the team sticks with a conservative approach to combat inflation and volatility in the markets.

What’s covered in this episode: 

• The characteristics that make an ‘economic franchise’
• Three examples of companies with an economic franchise
• The investment case for Tapestry, the owner of Kate Spade, Coach and Stuart Weitzman
• How a change in management at Tapestry influenced profits
• How the team narrows down its investable universe to just 220 names
• Why emotion is the big enemy of investors 
• The team’s conservative approach to inflation and recession
• Why heightened volatility has provided more opportunities
• Recent rotations in the portfolio 
• Why Covid forced the managers to go back to the fundamentals of medical equipment company Medtronic
• Does looming inflation affect the long-term positioning of the portfolio?
• Why the fund avoids big value sectors such as banks, commodities and oil and gas

More about the fund:
The Lazard Global Equity Franchise fund can invest in any business around the world, but because the managers are looking for industry leaders, there is a natural bias towards larger-sized companies. Run by a four-strong team, the managers’ systematic approach to portfolio construction means that behavioural biases should be removed, offering an attractive opportunity in the global equities sector.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 over 30 years’ experience of investing in the Asia region, Jason Pidcock, manager of the Jupiter Asian Income fund, takes us deep into the heart of his fund’s territory. He explains why he’s comfortable with a zero-weighting to China and perhaps surprises some listeners with the news that the Australian stock market has been the best equity market in the world since 1900. Jason gives us the reasons behind Australia’s success, then discusses the opportunities in India – particularly for dividend growth – and goes on to explain why the fund invests only in large caps. He ends with some stock examples and the benefits that an Asian income fund can offer investors.

What’s covered in this episode:

• Why the manager does not invest in China
• Investment opportunities outside of China
• How Australia has a history of dodging recession
• Looking for dividend growth in India
• The fund’s largest – and best-performing– holding in India
• Why the manager only invests in larger companies
• Why even the biggest market cap size is no barrier to further growth
• Why market share and a company’s margins are true investment indicators
• When the fund’s investable universe massively expanded
• How an Australian financials business has built a global presence
• The three ways investors can benefit from investing in Asia

More about this fund:
Well-known Asian income manager Jason Pidcock combs the breadth of the Asia Pacific market in search of large companies with reliable dividends that can deliver both income and growth for investors. Jupiter Asian Income fund aims to capitalise on the opportunities of today, as well as the potential of tomorrow, and is not afraid to hold much more or less of certain countries than its benchmark in pursuit of this aim.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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.

Abby Glennie, manager of the abrdn UK Mid Cap Equity fund, joins us to celebrate our 250th episode by talking all things FTSE 250 - the UK’s 250 mid-sized companies. Abby and Darius discuss the types of companies listed in the FTSE 250 and their attractive qualities for long term investors. Abby also tells us that more mid-sized companies can be found in the AIM index and gives a number of examples to illustrate the long-term growth potential of mid-cap stocks and the fund’s ability to “run its winners” - including familiar names like Hollywood Bowl and Greggs.

What’s covered in this episode: 

• The type of companies listed in the FTSE 250
• Why some companies listed on the AIM market could qualify as mid-cap
• The growth potential of FTSE 250 companies
• FTSE 250 performance compared to the FTSE 100 
• What makes mid-caps attractive for active investors
• Five long-term holdings in the portfolio, including familiar names Hollywood Bowl and Greggs
• How the ‘Matrix’ aids in stock selection and portfolio construction
• The fund’s two quality factors: Key and Z-scores
• The investment case for gaming company Keyword Studios
• Why people got the gaming sector wrong during Covid
• The hidden strength’s that could drive Greggs’ future growth

More about this fund:
The abrdn UK Mid Cap Equity is a high conviction strategy which invests in medium-sized companies for the long term. It focuses on businesses when they are well established, but still have a long runway of growth potential. Manager Abby Glennie has delivered excellent performance across a number of strategies. This fund is no exception. Her process leans on abrdn’’s screening tool, ‘The Matrix’, and is backed up with rigorous fundamental research and regular company meetings.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 Rathbone UK Opportunities fund, gives her views on the Silicon Valley Bank failure and why rising interest rates are felt more by start-ups than quality companies. According to Alexandra, the UK is trading on a 40% discount to global equities, so now could be a good time to invest. She discusses the wide range of opportunities to be had, ranging from gaming to infrastructure.

What’s covered in this episode: 

• What happened with Silicon Valley Bank… and should we be worried?
• Are higher interest rates going to negativity effect mid and smaller sized UK companies?
• Why the banking strain is more felt by start-up companies than quality companies
• Why now is the time for stock picking
• UK equities are  40% cheaper than global equities
• How the manager constructs a portfolio for a potential recession
• Why politics have been one of the biggest positive surprises recently
• The difference between investing in the FTSE 250 and AIM listed companies
• How UK companies can benefit from US infrastructure spending
• Why now is a good time to be investing in UK equities

More about the fund:
The Rathbone UK Opportunities fund is a truly active and nimble multi-cap fund with a clear bias in favour of quality growth. The manager will invest in small caps all the way through to mega caps although her sweet spot is usually in the mid-cap part of the market. The fund’s heavy mid cap and quality growth bias means it is likely to deliver very different performance to the UK market.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 offer their opinions on market volatility brought on by a potential banking crisis. They discuss the issues around the failures of both Silicon Valley Bank and Credit Suisse and how a lack of investor confidence could potentially see these issues spread further. Closer to home, we discuss the FTSE 100 and recent changes to the Lifetime Allowance for pensions following the Spring Budget. Both Darius and Juliet conclude by offering their views on technology, healthcare, commodities and India and tells us where they’re looking to invest their ISA allowance this year.

What's covered in this episode: 

• Why the FTSE 100 reached an all-time high
• …yet remains relatively inexpensive
• Is a banking crisis coming?
• What caused the problems for Silicon Valley Bank?
• How a lack of confidence could cause contagion in other banks
• What happened with Credit Suisse?
• Why AT1 bonds suddenly became a cause for concern
• Changes to the Lifetime Allowance for pensions
• How pension regulation has become a “political football”
• The long-term prospects for the technology sector
• Why European equities have performed well so far this year
• Should investors still be confident about corporate bonds?
• Recent under-performers: India, healthcare and commodities 
• Where the experts are investing their ISA allowance this year

The first quarter of 2023 has been a busy one with lots of events for investors to digest. From a banking crisis to changes to the pensions allowance and the FTSE 100 reaching an all-time-high, it’s been an interesting three months. In their regular quarterly update, Darius and Juliet discuss these issues and dissect the best and worst-performing sectors in Q1. 

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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 Invesco Global Focus fund has a refreshingly simple approach: understand the structural trends which are changing the world and then invest in the best companies which are benefitting from these trends. John Delano, co-manager on the fund, explains how the managers’ go about identifying these themes, the importance of scale and monetisation and gives examples in cloud computing and medical devices to illustrate his point. Current lead manager on the fund, Randall Dishman, is retiring in June 2023 and John tells listeners what they can expect when he takes over.

What’s covered in this episode: 

• How the managers identify structural themes in the world
• Understanding the monetisation of themes and how they can be scaled
• Monetising the aging population theme
• Why medical technology companies are undervalued
• The businesses that help develop the drugs as opposed to discovering the drugs
• Why industry publications add value to healthcare research
• How long the managers usually hold a stock
• Why allocation to China has increased in the short-term 
• What investors can expect when John becomes lead manager in summer 2023

More about the fund:
The Invesco Global Focus fund is a high conviction, concentrated fund of around 35 stocks, which invests in structural growth winners. The managers have a no-nonsense philosophy and investment process — buy companies which are winning and then let them compound over time. Current trends the fund considers include the rise of e-commerce, digital payments, cloud computing, network security software, life sciences tools, mobile technologies, social media and digital customer service.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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.

Mike Tyson spoke from experience when he said “everyone has a plan until they get punched in the mouth”. 2022 was a punch in the mouth to investors everywhere and resulted in emotional volatility in markets according to Steven Andrew, manager of M&G Episode Income. Steven talks us about investor optimism — and pessimism — across a range of assets, notably UK equities and emerging market bonds. We also consider how human behaviour influences pricing behaviour and market data, ultimately causing continued emotional uncertainty as we head further into 2023. 

What’s covered in this episode: 

• Why investor optimism was high at the start of 2023
• Have investors moved to a period of complacency?
• Is doom and gloom a rational reaction to the UK market?
• Less structural appetite for UK equities on the global market
• Why Europe is currently “flavour of the month” for investors
• Investor behaviour and the banking sector — and how it compares to 15 years ago
• The manager’s views on Japanese equities
• Two reasons why the M&G Episode Income doesn’t currently hold any property
• Why take the risk in emerging market and high yield bonds today?
• Being prepared to act amid volatility
• Why market — and human — shock has caused errors in market pricing data
• Emotional uncertainty driving markets forward
• Why price behaviour is all about understanding the nature of the world

More about the fund: 

The M&G Episode Income fund invests directly in individual stocks and bonds, while property exposure is gained by investing in property funds. The name “Episode” refers to those periods of time when investors’ emotions cause them to act irrationally. The manager uses behavioural finance to find pockets of value and invest against the herd, rather than following it.

Learn more on fundcalibre.com

Please 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.

Learn more on fundcalibre.com

Please 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.