Investors' Chronicle

Reuniting after the summer, Lord Lee and Alex Newman sit down in the M&G offices with Andrea Rossi, CEO since 2022. 

In the episode, the trio unpack what drew Rossi to take on the role, the challenges of balancing £350bn of assets, and how the affiliate deal with the Japanese life insurer Dai Ichi could transform the company, and more. 

Alex and Lord Lee wrap up in usual fashion with an update on Lord Lee’s portfolio, including a relatively unknown family-run Plc that’s crucial to the UK’s submarine programme.

If you have any questions or any suggestions for future guests, email [email protected]

Timestamps 

1:09 Rossi’s impression of the business prior to joining

2:18 Why Rossi did not want to break up the group

4:13 What Rossi sees in private markets 

7:58 The challenge of valuing a business such as M&G

14:36 Would private ownership be a better fit?

16:02 The Dai Ichi deal

17:43 Managing £350bn of assets

20:38 Replicating deals elsewhere in the world

21:22 Working in the Gulf

23:17 How Rossi allocates capital

26:12 Will M&G move into the ETF world 

27:32 How optimistic is Rossi on M&G

29:31 Lord Lee’s portfolio

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We start with last week’s Big Read, our annual Top 50 Funds. Dave Baxter shares his thoughts on compiling the list, its structure and the changes made to this year's edition. 

GSK (GSK), a company featured in our latest Special Report this week, Income Majors, is next. Its dividend level is not as high as it has been, but it is expected to tick up. Julian Hofmann unpacks its valuation, the possible buybacks on the table, what it's doing to boost sales and more.

Last up, it’s Mondi (MNDI), the packaging and paper company, which has had a tough year. Valeria Martinez covers the reasons, what it's doing during the slump it's experiencing and when investors can expect a recovery.

Timestamps 

1:30 Top 50 Funds

14:13 GSK

26:17 Mondi

Read stories mentioned in the show:

IC Top 50 Funds: the best ones to buy

Income Majors 2025: How the UK’s biggest dividend payers are faring

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We begin with the £42bn mega-merger between Anglo American and Teck Resources. Commodities expert Alex Hamer lays out what the deal is, the strengths Anglo will gain from it, and its investment case moving forward. 

It’s then on to Aim-traded Property Franchise Group with Mark Robinson. The recent results show momentum is strong, with many of its divisions performing well. Mark and Dan take a look at its valuation case against the market backdrop. 

DIY chain Wickes has demonstrated resilience in the face of a relatively flat home improvement market. Erin Withey shares where the company is taking market share and why the market didn’t react much to its interim results. 

Timestamps

1:16 Anglo American - Tech Resources Merger

17:45 Property Franchise Group

29:34 Wickes

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We start with this week’s Big Read by Chris Akers on Europe’s stand-out stocks, which have been beating their US counterparts. Chris lays out the background for the piece, the positives and the negatives on the continent, and highlights the sectors and countries investors may be particularly interested in.

Next up, investment clubs. Many of our listeners will be well-versed on the topic, but for those who are not, Holly McKechnie lays out what they are, the number of clubs in the UK at the last count and their future in light of Interactive Investors’ announcement.

Last up, Mark Robinson talks through Uniphar’s (UPR) latest results. The Irish Aim-traded pharmaceutical company’s share price has doubled in the past year, so Mark and Dan unpack what went right and how tariffs may affect the business. 

Timestamps

1:22 European markets

15:21 Investment clubs

23:34 Uniphar

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We start with commodities expert Alex Hamer, the author of this week’s Big Read on nuclear power. Tech giants' need for the contentious energy source has revived plants around the globe. Alex unpacks what this means for the industry so far, and the prospects for the uranium market and small modular reactors (SMRs). 

Next up, the world’s most valuable company, Nvidia (NVDA). New York-based reporter Arthur Sants discusses the company’s latest results, the uncertainty regarding sales to China, as well as Intel’s two recent big investors: the US government and SoftBank. Alex Newman also weighs in on the subject. 

Mark Robinson covers Boohoo’s (DEBS) recent, delayed results, which showed some overhang from its old business. It’s move to be a third-party seller, similar to that of M&S (MKS) and Next (NXT) could be fruitful, but the competition is rife. Listen to find out more. 

Timestamps

1:30 Nuclear 

15:48 Nvidia 

37:07 Boohoo

Read more on these topics 

How to invest in the world’s nuclear future

Nvidia beats expectations despite China uncertainty

Boohoo cuts inventories and capex

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We begin with Mark Robinson talking PensionBee’s (PBEE) results. The company’s marketing push in the US was a key theme in its latest update, a region where it sees a big opportunity. Mark and Dan discuss how both its US and UK arms are faring, as well as its valuation case.

Next up, Holly McKechnie discusses our latest Big Read on beating the trap of leasehold properties. Holly and Dan unpack everything from how to spot issues when renting or buying a leasehold to the impact Labour’s reforms will have.

Last up, Valeria Martinez covers whey-based protein products producer Applied Nutrition (APN). Its second-half results showed good performance thanks to well-received product launches. Valeria explains why momentum is on the company’s side.

Timestamps 

1:25 PensionBee

18:00 Leaseholds

34:48 Applied Nutrition 

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

We begin with Hugh Moorhead and recent results from Savills (SVS), which were in line with expectations. Hugh and Dan unpack what divisions brought in the highest profits, a breakdown of a handful of global performances, and what the business’s valuation appears to be.

Next up James Norrington joins to unpack our latest Big Read on sum-of-the-parts valuations. James explains the thinking behind the piece, how it can help find stocks trading at less than their worth, and how to tell if a company is focusing on the right part of a business.

Lastly, Julian Hofmann covers Novo Nordisk (DK:NOVO.B), which saw shares rise after Eli Lilly’s (US:LLY) oral weight-loss pill underwhelmed regulators. Competition is still fierce in the sector, but a new Novo CEO could give the company the boost it needs.

Read more on these topics 

How to spot undervalued shares

Deep Dives

Timestamps 

1:16 Savills

13:41 Spotting undervalued shares

26:33 Weight loss drugs

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

This week on the show, Mark Robinson and Julian Hofmann discuss interim figures from asset manager Jupiter, and ask whether the company – and the wider sector – is truly on the road to recovery. 

Our big read of the week looks at six different ways of pension planning. Personal finance editor Val Cipriani analyses the all-important topic of how to make your money last in your retirement.

Finally Valeria Martinez looks at recent results from consultancy turned activist investor Science Group, which is sitting on excess cash made from its stake in rival Ricardo earlier this year.

Listen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

Timestamps 

1:38 Jupiter

13:35 Retirement Strategies

24:44 Science Group

Midroll 24:43

Find out more about these topics: 

One-third drop in Jupiter’s earnings clouds recovery hopes

How to find your ‘retirement profile’ – and how to invest for it

Science Group cashes in on Ricardo activist campaign

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

This week, Centrica (CNA) announced it had acquired 15 per cent of the East Suffolk Sizewell C nuclear plant. Commodities expert Alex Hamer looks into the deal and how it will affect taxpayers and shareholders, alongside Centrica’s latest results.

Next, Mike Fahy covers our Big Read on global hidden gem companies. Dan and Mike unpack some of the stocks included and why we chose them, and the ways investors can access them. 

Last up, Hugh Moorhead joins the panel to discuss two companies that need little introduction: Coca-Cola (US:KO) and PepsiCo (US:PEP). Hugh looks at the differences between their operating models, pricing power, and innovations. Listen to find out everything investors need to know.  

Listen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

Timestamps 

1:28 Centrica

14:58 Global hidden gems

25:38 Coke versus Pepsi

Find out more about these topics: 

Centrica sizing up nuclear ambition

Hidden gem stocks from around the world 

Coke versus Pepsi: Why investors have a clear favourite

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.

After a two-month hiatus, Alex and Lord Lee reunite in the Financial Times studio to cover the latest updates on ten stocks from Lord Lee’s portfolio and questions sent in by listeners. From his thoughts on his biggest holding M&G (MNG) to Cerillion (CER) CEO Louis Hall’s decision to sell a chunk of his holding, Lord Lee shares his invaluable knowledge acquired through his half-century career in investing. 

As usual, the episode wraps up with an update on Lord Lee’s portfolio, with the latest buys and sells, including one of Simon Thompson’s 2025 Bargain Shares.

Timestamps

00:13 Introduction

00:51 Lord Lee’s take on the market

2:54 The government’s growth agenda

4:58 M&G

9:36 PZ Cussons

13:04 Treatt

15:32 Listen question on Cerillion

18:02 Braemar’s decision to cut its dividend

20:58 Reduction in Supermarket Income Reit

22:48 Two new positions

28:19 Updates from Lord Lee’s long-term holdings

Listen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities.

Investors' Chronicle is a service by the Financial Times.

Hosted on Acast. See acast.com/privacy for more information.